Welcome to our dedicated page for Organigram Global news (Ticker: OGI), a resource for investors and traders seeking the latest updates and insights on Organigram Global stock.
News about Organigram Global Inc. (NASDAQ: OGI, TSX: OGI) focuses on its activities as a Canadian cannabis cultivator, manufacturer and brand owner operating under the Cannabis Act and Cannabis Regulations. Company announcements highlight its position as Canada’s number one cannabis company by market share in the recreational segment, as well as developments across cultivation, product innovation, beverages and international expansion.
Investors and observers following OGI news will see regular updates on quarterly and annual financial results, including net revenue trends, adjusted gross margin, adjusted EBITDA and free cash flow, as reported in its earnings releases. These updates often discuss the impact of acquisitions such as Motif Labs Ltd. and Collective Project Limited on revenue growth, extraction capabilities and beverage market participation, along with commentary on cost efficiencies and synergy realization.
Organigram’s news flow also covers product and brand launches. Examples include new SHRED gummies formats, Big Bag O’ Buds strains, BOXHOT infused pre-rolls, Trailblazer blunts, Rizzlers vapes and the happly hemp-derived THC brand in the United States. The company highlights its use of FAST™ nanoemulsion technology in ingestible products and describes how these offerings are designed around consumer preferences, including mood-based formulations.
Another important theme in Organigram news is international and policy-related activity. Releases describe record international sales, progress toward EU-GMP certification for the Moncton facility, exclusive genetics agreements with Phylos Bioscience Inc., and polling and economic reports that position legal cannabis as a contributor to Canada’s GDP, jobs and innovation. Corporate governance and leadership updates, such as CEO succession plans and executive appointments, are also communicated through news releases. For a fuller picture of OGI’s evolving strategy and operations, readers can review this ongoing stream of company disclosures.
Organigram Holdings Inc. (NASDAQ: OGI) (TSX: OGI), a leading licensed cannabis producer, has announced it will report its third quarter fiscal 2024 earnings results on Tuesday, August 13, 2024, before the market opens. The company will host a conference call to discuss the results at 8:00 am Eastern Time on the same day. Interested parties can register for the call using the provided link. A webcast of the call will also be available, with a replay accessible for 90 days following the event on Organigram's investor relations website.
Organigram Holdings Inc. (NASDAQ: OGI) (TSX: OGI) has appointed Craig Harris to its Board of Directors, expanding the board to 10 members. Harris, currently the Assistant General Counsel at British American Tobacco plc (BAT), brings over 20 years of experience as a commercial lawyer. His expertise includes corporate law, regulatory engagement, and major global projects.
Harris has contributed to significant BAT initiatives, including the $49 billion merger with Reynolds American Inc. and the establishment of BAT's partnership with the McLaren Formula 1 team. He serves on several BAT company boards and is part of the Investment Committee for Btomorrow Ventures, BAT's venture capital arm. Harris's achievements have been recognized by Legal 500 UK, naming him UK Mergers & Acquisitions Individual of the Year in 2018.
Organigram Holdings Inc. (NASDAQ: OGI) (TSX: OGI) has completed a partial third tranche investment of US $1M into Phylos Bioscience Inc., a U.S. cannabis genetics company. This strategic funding aims to expand Organigram's product portfolio, focusing on auto-flower and rare cannabinoid offerings. Key points include:
1. Phylos to deliver 42 unique auto-flower seed varietals by January 31, 2025.
2. Organigram gains access to high-potency CBG, CBC, and CBDV seed-based cultivars.
3. Exclusive rights in Canada until May 2028 to commercialize THCV from Phylos' cultivars.
4. Organigram has launched six THCV SKUs across four formats.
5. Total investment in Phylos now at US $7M, with an additional US $1M pending milestone completion.
Organigram Holdings has made a significant investment of €14 million in Sanity Group, a leading German cannabis company, marking its strategic entry into the European market.
This investment includes €11.5 million in an unsecured convertible note and €2.5 million for equity interest, with an option to invest an additional €3 million. This collaboration also includes a new supply agreement with higher volumes and plans to commercialize Organigram’s brands in Germany.
Sanity Group, which holds a 10% share of the German medical cannabis market, is expected to benefit from recent legal reforms in Germany and is expanding its footprint in Switzerland through a recreational cannabis pilot program. The investment aims to leverage Sanity's robust distribution network and regulatory advancements in Europe's cannabis market.
Organigram has signed a three-year supply agreement with Avida Medical in the UK, its second international medical cannabis customer in the region.
Under the agreement, Organigram will supply 1,700 kilograms of high-quality cannabis flower, with 500 kilograms expected in the first year.
Avida Medical will gain exclusivity for three of Organigram's cannabis strains in the UK.
This agreement aligns with Organigram's strategy to expand beyond Canada, adding to its existing international agreements in Australia, Germany, and Israel.
Organigram (NASDAQ: OGI) reported a 21% YoY growth in recreational net revenue to $33.1 million for Q2 FY2024. Despite this, overall net revenue decreased by 5% to $37.6 million due to a decline in international sales. The company closed the first tranche of a $41.5 million private placement, raising its cash balance to $83.6 million. The firm also completed an oversubscribed offering for $28.8 million post-quarter-end, bringing its pro-forma cash position to about $195 million.
Organigram maintained market leadership in various product categories in Canada and expanded its international footprint, including new shipments to Germany and the UK. However, the quarter saw a net loss of $27.1 million, an increase from $7.5 million YoY, and a negative adjusted EBITDA of $1.0 million, down from $5.6 million YoY.
Organigram Holdings Inc. (NASDAQ: OGI) will report its second-quarter fiscal 2024 earnings on May 14, 2024. The conference call to discuss the results will take place at 8:00 am Eastern Time. The Company is a leading licensed producer of cannabis.
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