Organigram Holdings Inc. Common Shares - OGI STOCK NEWS

Organigram Holdings announced the results of its annual shareholder meeting held on February 23, 2022. All eight nominees, including Simon Ashton from BAT, were elected to the board. Ashton brings nearly 30 years of finance and leadership experience, enhancing the board's expertise. Additionally, Organigram expanded its Sustainability Committee to include environmental initiatives, reflecting its commitment to sustainability. This strategic move aims to strengthen corporate governance and sustainability efforts.

Thunderbird Entertainment Group has appointed Jérôme Levy to its Board of Directors as an independent member, effective immediately. Levy brings extensive experience in media and entertainment, having previously served as Vice Chairman of Archie Comics. His background includes overseeing TV and film production, digital expansion, and negotiating significant production deals with major companies like Warner Brothers and Netflix. This strategic addition aims to strengthen Thunderbird's leadership and execution of its long-term growth plan, which includes investing in owned-IP and pursuing strategic M&A opportunities.

Organigram Holdings reported Q1 Fiscal 2022 net revenue of $30.4 million, a record high and 57% increase year-over-year, driven by strong demand in the recreational market. The company also achieved a gross revenue of $44.3 million, a notable 75% rise from the previous year. Despite increased sales, the cost of sales rose 20% to $27.9 million, impacting margins. The company expanded its product lineup, launched Monjour, and resumed international sales, notably to Israel. The acquisition of Laurentian Organic is expected to further enhance growth.

Organigram Holdings Inc. (NASDAQ: OGI) will release its first quarter fiscal 2022 earnings on January 11, 2022, prior to market open. A conference call is scheduled for the same day at 8:00 am ET, where management will discuss the results. Interested parties can register for the call through the provided link. Organigram is a leading licensed cannabis producer in Canada, focusing on high-quality indoor-grown cannabis for both recreational and medicinal users. Its brands include The Edison Cannabis Company, Indi, and SHRED.

Organigram Holdings (NASDAQ: OGI) has announced a strategic investment of an additional $2.5 million into Hyasynth Biologicals, raising its total investment to $10 million. The funds will support Hyasynth in scaling up production and advancing new cannabinoid technologies. This follows prior investments in 2018 and 2020. Organigram remains a preferred partner with the option to purchase cannabinoids at a discount for the next decade. The partnership aims to leverage biosynthesis to improve cannabinoid production.

Organigram Holdings has acquired Laurentian Organic for $36 million in cash and shares, enhancing its position in Quebec's cannabis market. This acquisition incorporates Tremblant Cannabis, Quebec's top-selling hash brand, and adds Laurentian's artisanal product line to Organigram's portfolio. The deal is projected to expedite Organigram's timeline to EBITDA positivity, with an expected annual gross revenue run rate of $22 million from Laurentian. The company also plans to invest $7 million in growth capital to drive further expansion.

Organigram Holdings (OGI) reported a strong fourth quarter for fiscal 2021, achieving a 22% increase in net revenue to $24.9 million and a 43% rise in gross revenue to $36.2 million year-over-year. The company’s market share in the recreational cannabis segment expanded to 7.9% as of October, positioning Organigram as the fourth largest licensed producer in Canada. Key innovations included the launch of 16 new SKUs, with Edison Jolts ranking as the top-selling ingestible extract. Financially, the company maintains a healthy cash balance of $172 million and negligible debt.

Organigram Holdings Inc. (OGI) has launched Monjour, a new wellness brand with CBD-forward products aimed at consumers seeking convenient ways to incorporate CBD into their wellness routines. The initial offerings include vegan-friendly and sugar-free soft chews, available in Berry Medley and Citrus Medley flavors, each containing 20mg of CBD. Market research indicates a growing demand for flavorful, dosage-controlled CBD options. The Canadian CBD market is projected to generate $263M in sales in 2022, indicating a promising landscape for Monjour's entry.

Organigram Holdings Inc. (NASDAQ: OGI) announced it will report its earnings for the fourth quarter and full year of fiscal 2021, ending August 31, 2021, on November 23, 2021, before market open. A conference call to discuss these results will also be held on the same day at 8:00 am Eastern Time. Interested parties can register for the call via the provided link. The company continues to focus on producing high-quality cannabis for recreational and medical consumers in Canada and is expanding its global footprint.