Organigram Holdings Inc. Common Shares - OGI STOCK NEWS

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.

Organigram Holdings (NASDAQ: OGI) has launched new Trailblazer Spark, Flicker, and Glow 510-thread Torch vape cartridges in a 1g format, expanding its product line in the Canadian recreational cannabis market. These cartridges, designed for 510-thread vaporizers, include high-quality CO2 extract and three unique terpene-infused flavors: Flicker (Purple Punch), Spark (Maui Wowie), and Glow (Cherry Kush). The 1g cartridges offer a new option to consumers, reflecting the company's commitment to quality and variety in cannabis products.

Organigram Holdings Inc. (NASDAQ: OGI) announced it will report earnings results for the fourth quarter and full year Fiscal 2020, ending August 31, 2020, on November 30, 2020, before the market opens. A conference call will follow at 8:00 AM Eastern Time on the same day to discuss these results. Investors can register for the call and access a webcast through provided links. Organigram focuses on producing high-quality cannabis products in Canada and expanding internationally, operating under regulations outlined by the Cannabis Act.

Organigram Holdings (NASDAQ: OGI) announces the launch of Edison RE:MIX dissolvable cannabis powder, enhancing its product offerings. This customizable cannabis powder can be quickly mixed into beverages, allowing users to create personalized cannabis experiences. The proprietary nano-emulsification technology ensures rapid absorption and improved stability, addressing consumer demand for discreet cannabis consumption. With the Canadian recreational cannabis beverage market projected to grow significantly, Edison RE:MIX aims to capture market share by meeting evolving consumer preferences.

Organigram Holdings (NASDAQ: OGI) has successfully completed an underwritten public offering of 37,375,000 Units, generating total gross proceeds of C$69,143,750. Each Unit comprises one common share and half of a common share purchase warrant, exercisable for three years at C$2.50 per share. The funds raised will be used to repay debt and for working capital. The offering included an over-allotment option of 4,875,000 Units, fully exercised by underwriters. Canaccord Genuity led the underwriting syndicate.