Organigram Hldgs Inc - OGI STOCK NEWS

Organigram Holdings Inc. (NASDAQ: OGI) has launched SHRED X Rip-Strip Hash, an innovative cannabis product designed for convenience and flavor. This hash product features ten pre-cut strips in a 2g format, available in the popular Tropic Thunder and new Blueberry Blaster flavors. The SHRED brand, which has gained a significant market share since its introduction in September 2020, aims to attract both new consumers unfamiliar with traditional hash and existing hash users seeking convenience. With a market share of 25.2%, Organigram is a leading licensed producer in the Canadian hash category.

Organigram Holdings Inc. (NASDAQ: OGI) announced it received a Notification from NASDAQ regarding non-compliance with the minimum bid price requirement. For 30 consecutive trading days, the closing bid price of its common shares was below US$1.00, violating NASDAQ Listing Rule 5450(a)(1). The Notification does not affect the current listing status on NASDAQ, and the Company has until July 24, 2023, to regain compliance by closing at or above US$1.00 for 10 consecutive business days. Failure to comply may result in delisting, although the shares remain compliant on the Toronto Stock Exchange.

Organigram Holdings reported a robust Q1 Fiscal 2023, achieving a 43% increase in net revenue to $43.3 million, up from $30.4 million in the previous year. The company also recorded an Adjusted EBITDA of $5.6 million, marking its fourth consecutive quarter of positive earnings. The Adjusted Gross Margin reached a historic 30%, rising from 18% in the same period last year, driven by operational efficiencies and increased sales volume. Organigram maintained its competitive position in the Canadian market and shipped $5.9 million of product internationally.

Organigram Holdings Inc. (NASDAQ: OGI) will report its earnings results for Q1 fiscal 2023, ending November 30, 2022, on January 12, 2023, before market open. A conference call will be held at 8:00 AM Eastern Time on the same day to discuss the results. Participants can register for the call online and will receive access details via email. Organigram is a leading cannabis producer in Canada, focused on high-quality products and expanding its global footprint through various brands and international partnerships.

Flow Beverage Corp. (OTCQX: FLWBF; TSX: FLOW) has appointed Stephen A. Smith and Michael Lines to its Board of Directors. Smith, with a strong background in finance, will chair the Audit Committee, while Lines, founder of Wellness Natural Inc., will chair the Governance, Human Resources & Compensation Committee. Their appointments aim to enhance Flow's strategic transformation and focus on profitable growth in the consumer packaged goods sector. Flow is recognized as one of North America's fastest-growing premium water companies, emphasizing sustainable practices and health-oriented products.

Organigram Holdings reported a record net revenue of $45.5 million for Q4 Fiscal 2022, an 83% increase year-over-year, and $145.8 million for the fiscal year, up 84%. Adjusted EBITDA stood at $3.2 million for Q4, marking the third consecutive quarter of positive EBITDA, compared to a loss of $4.8 million in the prior year. The company achieved significant market share gains, holding the #1 position in Ontario and the Maritimes. With expanded capacity and operational efficiencies, Organigram is poised for continued growth in Fiscal 2023.

Organigram Holdings Inc. (NASDAQ: OGI) has announced the launch of its new value brand, HOLY MOUNTAIN, focused on affordable whole flower and concentrates. The initial offerings include dried flower strains like R*NTZ and MAC-1, alongside a pressed hash product. This expansion aims to enhance accessibility for consumers across Canada. Organigram is a leading cannabis producer, with plans to continue innovating and responding to consumer demands.

Organigram Holdings Inc. (NASDAQ: OGI) will report its earnings results for the fiscal year and fourth quarter ended August 31, 2022 on November 28, 2022, after market close. The company will conduct a conference call on November 29, 2022, at 8:00 am ET, to discuss these results. Interested participants can register for the call through a provided link. Organigram is a leading cannabis producer in Canada, focused on high-quality cannabis products for patients and recreational consumers.