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Oragin Foods Inc. (OGGFF) delivers organic and sustainable food solutions in a rapidly evolving market. This news hub provides investors and stakeholders with official announcements, financial updates, and strategic developments directly from the company.
Access timely information on earnings reports, product innovations, supply chain initiatives, and sustainability commitments. Our curated collection ensures you stay informed about Oragin Foods' market position in the organic sector without promotional bias.
Key updates including quarterly financial results, partnership announcements, retail expansions, and environmental stewardship programs. Bookmark this page for verified information from press releases and trusted sources, maintained for accuracy and relevance.
Organic Garage Ltd. (TSXV: OG, OTCQX: OGGFF) reported its Q1 2021 results, showing a working capital of $1.4 million, up from ($0.3) million a year prior. Cash balance rose to $2.8 million, while sales fell 12.1% to $7.0 million. Gross profit decreased by 16.6% to $2.0 million, leading to a net loss of $907,013 compared to a profit of $189,403 in Q1 2020. The company shifted to a decentralized distribution model, achieving $208,000 in savings, and formed a partnership with Instacart for enhanced online delivery.
Organic Garage Ltd. (TSXV: OG, OTCQX: OGGFF) is advancing its growth strategy through significant initiatives in 2021. The company is exploring expansion opportunities due to increased demand for grocery services, especially in health and wellness. A new partnership with Instacart enhances online sales across a wider service area, reaching over 2.11 million households. Additionally, the Hand-Picked Partner program is set to roll out at more locations. The acquisition of Future of Cheese is progressing well, with plans for product launches this summer, further solidifying Organic Garage's market presence.
Organic Garage Ltd. (OGGFF) has signed an exclusive partnership with Instacart, enhancing online grocery delivery services to over 2.11 million households in Ontario. This expands delivery areas, reaching previously unavailable markets like Mississauga and Brampton. The collaboration builds on an online sales strategy initiated in January 2020, which has seen consistent growth. The company reported a significant increase in cash position, from $0.2 million to $1.6 million year-end fiscal 2021, and over $2.4 million as of June 4, 2022, allowing for further growth initiatives.
Organic Garage Ltd. (TSXV: OG, OTCQX: OGGFF) has entered an exclusive partnership with Instacart to enhance its online grocery delivery services. The agreement allows Organic Garage to offer same-day delivery from its retail locations, reflecting regular prices on Instacart's platform. This partnership expands Organic Garage’s delivery reach to over 2.11 million households across Ontario, including areas previously unavailable for delivery such as Mississauga and Brampton. CEO Matt Lurie expressed excitement about increasing the customer base through this collaboration.
Organic Garage Ltd. (TSXV: OG, OTCQX: OGGFF) thanks participants for attending its Fiscal 2021 Year End Financial Results webcast. The company announced the issuance of 134,434 common shares to settle $71,250 in interest from convertible debentures due April 30, 2021. This issuance is subject to TSX Venture Exchange approval, with shares priced at $0.53 each and a hold period of four months. Organic Garage is committed to expanding its retail presence while offering a selection of affordable organic products to customers.
Organic Garage reported audited financial results for the year ending January 31, 2021, highlighting a 25.3% increase in sales, reaching $30.3 million. Gross profit surged by 33.2% to $8.9 million, and net loss improved to $(0.3) million from $(5.1) million the previous year. Key financial metrics showed a significant recovery, with loss per share of $(0.01). The Company also raised $1.0 million through a private placement, achieving a working capital of $1.0 million.
The Company plans to discuss these results in a conference call on June 2, 2021.
Organic Garage Ltd. (OGGFF) reported strong financial results for the year ending January 31, 2021, with Q4 sales up 32.7% to $7.3 million and gross profit increasing 21.9% to $2.2 million. The company improved its net loss to $0.1 million from $3.0 million, reflecting better operational efficiency. Yearly sales rose 25.3% to $30.3 million, with gross profits up 33.2%. Additionally, working capital improved significantly from a deficit to $1.0 million. Looking forward, the company anticipates operational savings from a newly decentralized distribution model.
Organic Garage (OTCQX: OGGFF) has announced its plant-based subsidiary, Future of Cheese, is scaling up R&D to innovate dairy-comparable proteins. Targeting sustainable alternatives, the company focuses on creating a plant-based protein similar to casein, essential for cheese production. Using proprietary methods, Future of Cheese is extracting proteins from legumes, quinoa, and hemp, aiming for a product superior in nutritional value and quality. This initiative reflects a significant commitment to reducing reliance on animal products while meeting increasing consumer demand for nutritious alternatives.
Organic Garage (OTCQX: OGGFF) will announce its fiscal 2021 year-end financial results on May 31, 2021, after market close. A webcast and conference call will follow on June 2, 2021, at 12:00 p.m. ET to discuss these results and the business outlook, including updates on the recently acquired Future of Cheese. CEO Matt Lurie and CFO Nelson Lamb will host the event, featuring a Q&A session. Interested parties can join via the provided link.
Organic Garage Ltd. (TSXV: OG, OTCQX: OGGFF) announces a partnership with Toronto's Cheese Boutique, adding gourmet offerings to its Junction store and eventually all locations. Cheese Boutique, established in 1970, will provide house-aged cheeses and curated goods through in-store kiosks. This collaboration aims to enhance customer experience and diversify product offerings. CEO Matt Lurie emphasizes that the partnership differentiates Organic Garage in the marketplace.
