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OrganiGram Holdings Inc. (symbol: OGI) is a leading licensed producer of cannabis, based in Atlantic Canada. As part of Canada’s Marihuana for Medical Purposes Regulations (MMPR), OrganiGram specializes in the cultivation of high-quality, organically grown medical marijuana. The company is committed to providing the best possible medicine and service to its clients.
OrganiGram’s primary operations revolve around the production of indoor-grown cannabis for both medical patients and adult recreational users in Canada. The company has built a diverse portfolio of adult-use recreational cannabis brands including Edison, Big Bag o' Buds, SHRED, Monjour, Holy Mountain, and Trailblazer. Recently, Organigram has expanded its brand lineup with the addition of Tremblant Cannabis and the artisanal craft brand, Laurentian.
OrganiGram has garnered recognition for its innovative and high-quality cannabis products. The company places a strong emphasis on research and development to continually improve its cultivation techniques and product offerings. OrganiGram has also established significant partnerships which support its growth and expansion plans.
Financially, OrganiGram has shown resilience and adaptability in a competitive market. The company regularly updates investors and stakeholders with the latest developments and financial results, ensuring transparency and fostering trust.
OrganiGram Holdings Inc. is dedicated to advancing the cannabis industry through sustainable practices and a commitment to quality. For more information or inquiries, visit www.organigram.ca or contact their client services team at 1-855-961-9420.
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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