Organigram Holdings Inc. Common Shares - OGI STOCK NEWS

Organigram Holdings (NASDAQ: OGI) has successfully repaid approximately $58.5 million in outstanding balances under its credit agreement with Bank of Montreal. This repayment will save the company $2.7 million annually in interest costs. Following the repayment, Organigram's pro forma cash position stands at $235 million. The company is also in discussions with BMO to amend the credit agreement, aiming for continued support and flexibility in business growth.

Organigram Holdings (TSX: OGI, NASDAQ: OGI) has launched two new cannabis product lines: Indi, focusing exclusively on indica strains, and Edison Cannabis Co. indica pre-rolls. Indi's first strain, Skyway Kush, features a THC content of 20%-23%. The Edison pre-rolls include Black Cherry Punch (18%-24% THC), Ice Cream Cake (18%-24% THC), and Slurricane (17%-23% THC). Organigram's commitment to genetics and quality aims to enhance their product lineup, catering to the growing demand for indica products among cannabis consumers.

Organigram Holdings has launched two new recreational cannabis products: SHRED Tropic Thunder Jar of Joints and Trailblazer SNAX Milk Chocolate Bars. The SHRED brand, known for its high potency and quality, introduces a convenient jar of 14 pre-rolls with 18% THC. Meanwhile, the Trailblazer SNAX chocolate bar features a creamy cacao filling infused with THC, marking a unique entry in the market. Both products reflect Organigram's focus on consumer preferences and investment in automation to enhance production efficiency. They are now available at select retailers.

Organigram Holdings announces the departure of Matt Rogers, Senior VP of Operations, effective May 2021. Rogers has been instrumental in the company's growth as a leading cannabis producer. His efforts contributed to constructing the new edibles facility and operational strategies for 'Rec 2.0' products. Nathalie Batten has been appointed as the new Plant Manager, bringing substantial experience from Irving Oil and Keyera Corporation. Organigram aims to continue producing quality cannabis for both medical and recreational use while exploring international partnerships.

The cannabis sector experienced robust growth in 2020, with the U.S. market significantly outperforming Canada. While the Canadian adult-use market was valued at US$2.5B in October 2020, California alone reached $2.8B in 2019, highlighting the U.S.'s larger market potential. Regulatory improvements in the U.S. have fostered opportunities for profitability. Item 9 Labs reported a 65% revenue increase to $8.1 million for FY 2020, driven by production growth and strong demand. Upcoming opportunities include the opening of Arizona's adult-use market and a merger with ONE Cannabis Group.

Organigram Holdings (OGI) reported Q1 Fiscal 2021 results with net revenue at $19.3 million, down 23% from $25.2 million in Q1 2020, due to lower wholesale revenue and prices. Gross revenue decreased 11% to $25.3 million, alongside a significant net loss of $34.3 million. Despite these declines, net cash provided from operations improved to $0.3 million. The Canadian adult-use recreational market saw 30% growth to $16.8 million, attributed to new product launches in the dried flower segment. The company aims to enhance margins through new higher-margin Edison strains.

Organigram Holdings (NASDAQ: OGI) announced the appointment of Marni Wieshofer to its Board of Directors, effective January 12, 2021. Wieshofer, with over 30 years of diverse experience, is the first U.S. domiciled director for Organigram. Her background includes significant roles in M&A and finance, particularly in the entertainment sector, having served as CFO at Lions Gate Entertainment. The company anticipates her expertise will help navigate the evolving cannabis industry, focusing on brand differentiation and consumer experience.

Organigram Holdings Inc. (NASDAQ: OGI) will release its first quarter Fiscal 2021 earnings results on January 12, 2021. The results cover the period ending November 30, 2020. Following the report, a conference call will take place at 8:00 AM Eastern Time to discuss the details. Interested parties can register for the call via the provided link. Organigram, a leading cannabis producer based in New Brunswick, Canada, focuses on high-quality indoor-grown cannabis, serving both medical and recreational markets while exploring international partnerships.

Organigram Holdings (NASDAQ:OGI) announced the launch of three new high-potency Indica strains from its Edison Cannabis Co. brand: Black Cherry Punch, Ice Cream Cake, and Slurricane. Each strain offers unique flavour profiles and THC levels between 17%-26%. These products are expected to be available in 3.5g formats at select retail locations in Canada. CEO Greg Engel emphasized the company's commitment to science and quality in cannabis production. The strains will also be accessible to medical patients under different names, expanding Organigram's footprint in the rapidly growing cannabis market.