Organigram Global Inc Stock Price, News & Analysis

Organigram Holdings Inc. (NASDAQ: OGI) has reported significant market share growth, increasing from 3.9% in January 2021 to 7.7% by September 2021, positioning itself as the #4 licensed producer in Canada. The company acquired The Edibles and Infusions Corporation to expand its product offerings, resulting in successful new product launches. It has resumed shipments to Canndoc in Israel, and signed a supply agreement with Yukon Liquor Corporation, thus expanding its reach across Canada. Additionally, there has been a board member update with the resignation of Jeyan Heper.

Organigram Holdings Inc. has received a receipt for a final short form Base Shelf Prospectus across Canada, allowing it to distribute up to C$500,000,000 in various securities over 25 months. A Registration Statement is also filed with the SEC, though it’s not yet effective. This shelf registration offers the Company flexibility for future financing opportunities.

Investors should note, however, that no offers can be accepted until the registration becomes effective.

Organigram Holdings Inc. has launched SHRED’ems, a new line of cannabis-infused gummies, achieving the top market share in the edibles category in Prince Edward Island within just two weeks. These gummies are an extension of the popular SHRED product line and are competitively priced, available in three all-natural flavors. This launch marks a significant milestone and demonstrates the potential for growth in the rapidly expanding edibles market, as 74% of this category comprises gummies. The product is manufactured by The Edibles & Infusions Corporation, an acquisition from April 2021.

Organigram Holdings has launched Edison Cannabis Co. JOLTS, Canada’s first flavoured high potency THC lozenge. Each pack contains 10 mint-flavoured lozenges, with 10 mg of THC each, totaling 100 mg. This product aims to meet the demand for high potency and convenient cannabis options, appealing to both current consumers and those from the legacy market. Designed for sublingual absorption, Edison JOLTS allows for quicker effects. Currently available in Ontario, it will roll out to other retailers soon, reinforcing Organigram’s commitment to innovation and consumer satisfaction.

Organigram Holdings has appointed Beena Goldenberg as the new Chief Executive Officer, effective September 9, 2021. Goldenberg, a seasoned leader with over 30 years of experience, previously served as CEO of The Supreme Cannabis Company, achieving 50% growth in her first year. Her leadership is expected to enhance Organigram's market position in the evolving cannabis industry. The company focuses on producing high-quality cannabis and expanding its global footprint. Goldenberg's expertise will support product innovation and value generation for shareholders.

Organigram Holdings is launching the Cannabis Innovators Panel, an initiative to gain real-time insights into consumer preferences from 2,500 participants across Canada. This consumer panel aims to enhance product development by obtaining feedback on cannabis products like vapes, edibles, and pre-rolls. According to SVP Megan McCrae, engaging with consumers is vital for creating innovative, consumer-centric products. Organigram operates both domestically and internationally, focusing on high-quality cannabis production.

Organigram Holdings announced its Q3 2021 financial results, reporting a 31% increase in gross revenue to $29.1 million and a 13% rise in net revenue to $20.3 million compared to Q3 2020. The company improved its gross margin to $2.1 million from a loss of $50.2 million last year. Notably, a net loss of $4 million was significantly better than the previous year’s loss of $89.9 million. Q4 2021 is projected to see revenue growth supported by a strong market outlook and new product launches, including high-margin dried flower strains.

Organigram Holdings Inc. (NASDAQ: OGI) announced it will report its earnings for the third quarter Fiscal 2021 on July 13, 2021, before market open. The earnings call is scheduled for 8:00 am Eastern Time on the same day. Investors can register for the call via a provided link and access a replay within 24 hours post-call. Organigram focuses on high-quality indoor cannabis production and has established various brands, while also aiming to expand its international presence.

Organigram Holdings (TSX: OGI, NASDAQ: OGI) announces plans to recruit up to 75 positions across various departments including Operations, Production, and Sales. This expansion accompanies the launch of the Center of Excellence, developed in collaboration with BAT, aimed at innovating cannabis vapour and oral products with an initial focus on CBD. The company emphasizes its commitment to community and quality workforce. Additionally, a career fair will be hosted on June 5, 2021, at its Moncton facility to attract potential job seekers.