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Organigram Global Inc. reports developments tied to its Canadian cannabis cultivation, processing, branded adult-use products and cannabinoid beverage business. The company operates through subsidiaries including Organigram Inc., a licensed cultivator and processor, and participates in U.S. and Canadian cannabinoid beverages through Collective Project Limited.
Recurring news themes for OGI include operating and financial results, cannabis product launches, brand extensions, international partnership activity, and regulatory matters under Health Canada’s Cannabis Act and Cannabis Regulations. Company updates also cover brands such as Edison, Big Bag O’ Buds, SHRED, Monjour, Tremblant, Collective Project, Trailblazer, BOXHOT and DEBUNK; the FAST nanoemulsion technology platform; and production, edibles, extraction, packaging and fulfillment facilities in Canada.
Organigram Holdings reported Q1 Fiscal 2022 net revenue of $30.4 million, a record high and 57% increase year-over-year, driven by strong demand in the recreational market. The company also achieved a gross revenue of $44.3 million, a notable 75% rise from the previous year. Despite increased sales, the cost of sales rose 20% to $27.9 million, impacting margins. The company expanded its product lineup, launched Monjour, and resumed international sales, notably to Israel. The acquisition of Laurentian Organic is expected to further enhance growth.
Organigram Holdings Inc. (NASDAQ: OGI) will release its first quarter fiscal 2022 earnings on January 11, 2022, prior to market open. A conference call is scheduled for the same day at 8:00 am ET, where management will discuss the results. Interested parties can register for the call through the provided link. Organigram is a leading licensed cannabis producer in Canada, focusing on high-quality indoor-grown cannabis for both recreational and medicinal users. Its brands include The Edison Cannabis Company, Indi, and SHRED.
Organigram Holdings (NASDAQ: OGI) has announced a strategic investment of an additional $2.5 million into Hyasynth Biologicals, raising its total investment to $10 million. The funds will support Hyasynth in scaling up production and advancing new cannabinoid technologies. This follows prior investments in 2018 and 2020. Organigram remains a preferred partner with the option to purchase cannabinoids at a discount for the next decade. The partnership aims to leverage biosynthesis to improve cannabinoid production.
Organigram Holdings has acquired Laurentian Organic for $36 million in cash and shares, enhancing its position in Quebec's cannabis market. This acquisition incorporates Tremblant Cannabis, Quebec's top-selling hash brand, and adds Laurentian's artisanal product line to Organigram's portfolio. The deal is projected to expedite Organigram's timeline to EBITDA positivity, with an expected annual gross revenue run rate of $22 million from Laurentian. The company also plans to invest $7 million in growth capital to drive further expansion.
Organigram Holdings (OGI) reported a strong fourth quarter for fiscal 2021, achieving a 22% increase in net revenue to $24.9 million and a 43% rise in gross revenue to $36.2 million year-over-year. The company’s market share in the recreational cannabis segment expanded to 7.9% as of October, positioning Organigram as the fourth largest licensed producer in Canada. Key innovations included the launch of 16 new SKUs, with Edison Jolts ranking as the top-selling ingestible extract. Financially, the company maintains a healthy cash balance of $172 million and negligible debt.
Organigram Holdings Inc. (OGI) has launched Monjour, a new wellness brand with CBD-forward products aimed at consumers seeking convenient ways to incorporate CBD into their wellness routines. The initial offerings include vegan-friendly and sugar-free soft chews, available in Berry Medley and Citrus Medley flavors, each containing 20mg of CBD. Market research indicates a growing demand for flavorful, dosage-controlled CBD options. The Canadian CBD market is projected to generate $263M in sales in 2022, indicating a promising landscape for Monjour's entry.
Organigram Holdings Inc. (NASDAQ: OGI) announced it will report its earnings for the fourth quarter and full year of fiscal 2021, ending August 31, 2021, on November 23, 2021, before market open. A conference call to discuss these results will also be held on the same day at 8:00 am Eastern Time. Interested parties can register for the call via the provided link. The company continues to focus on producing high-quality cannabis for recreational and medical consumers in Canada and is expanding its global footprint.
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.