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The move to reclassify cannabis in from Schedule I to III is significant and a positive step forward towards full federal legalization of cannabis. The reclassification marks the first substantive change in federal marijuana policy in more than 50 years and is long overdue. Organigram’s extensive operation, exceptional balance sheet, and recently created Jupiter investment pool positions us to succeed at home and in the U.S.
Our recently announced Jupiter investment pool has been designed to allow Organigram to participate in the rapidly evolving U.S. cannabis market. Through this fund, we aim to make strategic investments in international partners, including the U.S., that provide us the opportunity to bring our leading brands and world-class IP to new markets. There is no shortage of opportunities to enter the U.S., and we are actively considering different options. We’ve already launched products stemming out of our partnership with Phylos (seeds and THCV) and we’re looking forward to commercializing products in the U.S. through OBX’s expertise in formulation and product development. With the right U.S. partners, our portfolio of strong brands and our industry-leading IP, we will be well positioned to compete in the U.S. market.
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