Organigram Holdings Inc. Common Shares - OGI STOCK NEWS

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.

Organigram Holdings Inc. (NASDAQ: OGI) has reported significant market share growth, increasing from 3.9% in January 2021 to 7.7% by September 2021, positioning itself as the #4 licensed producer in Canada. The company acquired The Edibles and Infusions Corporation to expand its product offerings, resulting in successful new product launches. It has resumed shipments to Canndoc in Israel, and signed a supply agreement with Yukon Liquor Corporation, thus expanding its reach across Canada. Additionally, there has been a board member update with the resignation of Jeyan Heper.

Organigram Holdings Inc. has received a receipt for a final short form Base Shelf Prospectus across Canada, allowing it to distribute up to C$500,000,000 in various securities over 25 months. A Registration Statement is also filed with the SEC, though it’s not yet effective. This shelf registration offers the Company flexibility for future financing opportunities.

Investors should note, however, that no offers can be accepted until the registration becomes effective.

Organigram Holdings Inc. has launched SHRED’ems, a new line of cannabis-infused gummies, achieving the top market share in the edibles category in Prince Edward Island within just two weeks. These gummies are an extension of the popular SHRED product line and are competitively priced, available in three all-natural flavors. This launch marks a significant milestone and demonstrates the potential for growth in the rapidly expanding edibles market, as 74% of this category comprises gummies. The product is manufactured by The Edibles & Infusions Corporation, an acquisition from April 2021.

Organigram Holdings has launched Edison Cannabis Co. JOLTS, Canada’s first flavoured high potency THC lozenge. Each pack contains 10 mint-flavoured lozenges, with 10 mg of THC each, totaling 100 mg. This product aims to meet the demand for high potency and convenient cannabis options, appealing to both current consumers and those from the legacy market. Designed for sublingual absorption, Edison JOLTS allows for quicker effects. Currently available in Ontario, it will roll out to other retailers soon, reinforcing Organigram’s commitment to innovation and consumer satisfaction.

Organigram Holdings has appointed Beena Goldenberg as the new Chief Executive Officer, effective September 9, 2021. Goldenberg, a seasoned leader with over 30 years of experience, previously served as CEO of The Supreme Cannabis Company, achieving 50% growth in her first year. Her leadership is expected to enhance Organigram's market position in the evolving cannabis industry. The company focuses on producing high-quality cannabis and expanding its global footprint. Goldenberg's expertise will support product innovation and value generation for shareholders.

Organigram Holdings is launching the Cannabis Innovators Panel, an initiative to gain real-time insights into consumer preferences from 2,500 participants across Canada. This consumer panel aims to enhance product development by obtaining feedback on cannabis products like vapes, edibles, and pre-rolls. According to SVP Megan McCrae, engaging with consumers is vital for creating innovative, consumer-centric products. Organigram operates both domestically and internationally, focusing on high-quality cannabis production.