Organigram Holdings Inc. Common Shares - OGI STOCK NEWS

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.

Organigram Holdings Inc. (TSX: OGI) has appointed Megan McCrae as the new Senior Vice President of Marketing and Communications, effective immediately. McCrae brings 17 years of experience in consumer packaged goods marketing and sales, with a notable role as CMO at Aphria Inc. where she led brand and product strategy. Her background also includes ten years with Japan Tobacco International and advocacy efforts as Board Chair for the Cannabis Council of Canada. Her expertise aims to enhance Organigram’s marketing efforts across Canada, promoting growth and strategic planning for its cannabis brands.

Organigram Holdings announces the launch of Big Bag o’ Buds, a new lineup of dried flower cannabis products available in a 28g format. These products feature a minimum of 17% THC and include popular cultivars like Ultra Sour, Grapefruit GG4, and Lemon Tree. Tim Emberg, Senior VP of Sales, highlighted the demand for large formats and new strains. Grown in climate-controlled settings, the Big Bag o’ Buds aims to enhance flavor and experience for Canadian consumers. The product is now available at select retailers across Canada.

Organigram Holdings has appointed Borna Zlamalik as Vice President of Innovation, effective immediately. Zlamalik, a seasoned marketer with a strong background in cannabis and consumer goods, will oversee R&D and product development. His previous roles include VP of Marketing at The Valens Company and senior positions at JT International SA. This strategic move is expected to enhance product innovation and commercialization as Organigram aims to expand its cannabis portfolio. Zlamalik will drive innovation efforts nationally from Ontario.

Organigram announced the departure of CEO Greg Engel, effective immediately, while he will continue as a special advisor during the transition. Peter Amirault, the current Board chairman, is appointed as executive chair in the interim until a new CEO is chosen. Engel has been pivotal since 2017, leading the company through challenges and innovations in the cannabis market. The Board expressed gratitude for Engel's contributions. The company is pursuing leadership continuity during the search for a permanent CEO, emphasizing governance and business acumen.

Organigram Holdings Inc. (TSX: OGI, NASDAQ: OGI) has expanded its Edison Cannabis Co. product line by introducing two new dried flower strains: GMO Cookies and MAC-1. GMO Cookies, an indica strain, has a THC range of 20-26% and is characterized by its distinct aroma and crown-shaped, dark green flowers with purple flecks. MAC-1 is a hybrid strain with a citrus flavor and similar THC potency. Both strains are grown in custom micro-climates to enhance flavor and potency, and will soon be available at select retailers nationwide.

Organigram Holdings Inc. (OGI) reported Q2 2021 results, revealing a 37% decline in net revenue to $14.6 million compared to Q2 2020, attributed to lower wholesale revenue and COVID-19 disruptions. Gross revenue fell 29%, and the company posted a net loss of $66.4 million, up from $6.8 million the previous year. Despite these challenges, Organigram anticipates improved performance in Q3 2021 due to enhanced staffing and a new product portfolio, including soft chews from its acquisition of The Edibles and Infusions Corporation.

Organigram Holdings (OGI) has acquired The Edibles & Infusions Corporation (EIC) for $22 million, plus up to $13 million contingent on performance milestones. This strategic acquisition enhances Organigram's product offerings in the growing Canadian edibles market, providing an operational footprint in Western Canada. EIC operates a state-of-the-art facility in Manitoba, poised to manufacture cannabis-infused products. The edibles segment is projected to expand significantly, with EIC's expertise and capabilities accelerating product development and market presence.