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Thanks, Hunch...
Lovely to wake up to some good news in this troubled world:
Canadian cannabis company Organigram Holdings (NASDAQ:OGI) saw its fiscal Q1 2022 net loss narrow 94% year-over-year thanks to a 117% increase in net revenue.
Shares are up 10%.
In fiscal Q1 2021, net loss was ~$66.4M. In FQ1 2022, that dropped to a loss of ~$4M.
Net revenue in FQ1 was ~31.8M.
The company also noted that it achieved an 8.2% market share in February, making it the No. 3 among Canadian licensed producers.
Organigram (OGI) ended FQ1 (ended Feb. 28, 2022) with $150.7M in cash.
OGI Achieved gross revenue of $43.9 million, up 128%...... from the same prior-year period and consistent with Q1 Fiscal 2022, despite the impact of seasonality
https://investors.organigram.ca/press-releases/organigram-reports-second-quarter-fiscal-2022-results
You're right, John, "GREEN Days ahead"
Thanks bud, it looks like the street liked the earning report as well
Wow , very nice Hunch
Will buy some again !
OGI $$$$
$OGI Organigram Reports Second Quarter Fiscal 2022 Results
Achieves positive Adjusted EBITDA two quarters earlier than expected driven by record high net revenue for the Company of $31.8 million and a top 3 national market share position among Canadian LPs.
https://investors.organigram.ca/press-releases/organigram-reports-second-quarter-fiscal-2022-results
Very nice Hunch !
Thank you , I have it on my radar all the time and it‘s a good time to buy some again
GLTU ! GLTA !
Yes, until spring it seems. Here's some new stuff https://investors.organigram.ca/sites/default/files/documents/laurentian-aquisition.pdf
OGI Expanded their Edible productions https://mjbizdaily.com/organigram-acquires-cannabis-edibles-manufacturer-for-ca22-million/
That and OGI stock goes up each spring. I have not seen it move up in the spring so it should. Remember cannabis is legal right across Canada. As well, it has the market cornered for organic products making OGI a popular choice with medical marjuana suppliers as well as recreational users.
I guess we'll see. Enjoy your day:)
All Cannabis stocks are very cheap now imo
OGI $$$
Good Morning Hunch
Sure hope so !
Have a great Day !
OGI looks ready for a nice spring jog:)...... Good morning
OGI NEWS "Finacial Post" Feb/28/2022 MUST READ...
https://financialpost.com/pmn/press-releases-pmn/business-wire-news-releases-pmn/bat-exercises-top-up-rights-to-invest-6-3-million-resulting-in-an-increase-in-equity-position-from-18-8-to-19-5
BAT Exercises Top-Up Rights to Invest $6.3 Million Resulting in an Increase in Equity Position from 18.8% to 19.5%
MONCTON, New Brunswick — Organigram Holdings Inc. (TSX: OGI and NASDAQ: OGI), the parent company of Organigram Inc. (collectively “Organigram” or the “Company”), a leading licensed producer of cannabis, is pleased to announce that BAT has invested an additional C$6.3 million into Organigram to enhance its equity ownership position in Organigram from 18.8% to 19.5% as of December 31, 2021 by exercising its rights pursuant to an investor rights agreement (the “Investor Rights Agreement”). The Investor Rights Agreement was entered into between Organigram and BAT in connection with the formation of the Product Development Collaboration (the “PDC”) between the two companies and the strategic investment of C$221 million made by BAT in Organigram in March 2021.
The Investor Rights Agreement allows BAT periodic top-up rights to permit maintenance of its percentage ownership following certain issuances. The price per share offered to BAT is consistent with the price per share at which the relevant issuances were made subject to maximum discount requirements of the TSX.
The exempt issuances by Organigram in the three-months ended December 31, 2021 related primarily to the acquisition of Laurentian Organic Inc. pursuant to which 10,896,442 shares were issued. In addition, 83,408 shares were issued in connection with exercises of share-based compensation.
The Equity Top Up
BAT has purchased 2,659,716 common shares in Organigram at an average price of $2.3868 per share (the “Equity Top-Up”) for gross proceeds of $6,348,319 and now holds a pro-forma 19.5% equity interest based on the issued shares outstanding in Organigram of 313,477,365 as at December 31, 2021 (the end of the period in relation to which the rights were exercised) adjusted for the Equity Top-Up (310,817,649 shares outstanding plus 2,659,716 issued under the Equity Top-Up). The pro-forma equity interest as at the date hereof is 19.4%.
BAT and Organigram are approaching the first anniversary of the formation of the Product Development Collaboration (PDC) on March 10, 2021.
“Innovation is an important cornerstone of Organigram’s core strategy and the Product Development Collaboration with BAT underscores our commitment to the development of disruptive, consumer-focused cannabis products,” said Beena Goldenberg, Chief Executive Officer. “We are pleased with the successful launch of the PDC and the progress we are making so far.”
Organigram Maintains Strong Cash Position
Prior to the Equity Top-Up, Organigram enjoyed a strong cash position of C$168 million reported as at the end of Fiscal Q1-2022 (November 30, 2021). The C$6.3 million received from the Equity Top-Up further strengthens the Company’s balance sheet for general corporate purposes.
About Organigram Holdings Inc.
Organigram Holdings Inc. is a NASDAQ Global Select Market and TSX listed company whose wholly-owned subsidiaries include: Organigram Inc. and Laurentian Organic Inc., licensed producers of cannabis and cannabis-derived products in Canada, and The Edibles and Infusions Corporation, a licensed manufacturer of cannabis-infused soft chews in Canada.
OGI February/24th/2022 ...
Organigram Holdings Inc. Announces Election of Directors
BAT’s Simon Ashton Appointed to the Board of Directors
MONCTON, New Brunswick--(BUSINESS WIRE)-- Organigram Holdings Inc. (“Organigram” or the “Corporation”) (TSX: OGI) (NASDAQ: OGI) announced today the results of voting at its annual meeting of shareholders held on February 23, 2022 (the “Meeting”).
Each of the eight nominees listed in the Corporation’s management information circular dated January 18, 2022 (the “Circular”) provided in connection with the Meeting was elected as a director of Organigram at the Meeting. Organigram received proxies and virtual votes at the Meeting as set out below:
Nominee
Votes For
% of Votes
For
Votes
Withheld
% of Votes
Withheld
Peter Amirault
97,169,054
99.183%
800,118
0.817%
Beena Goldenberg
97,174,685
99.189%
794,488
0.811%
Dexter John
91,691,003
93.592%
6,278,169
6.408%
Geoffrey Machum
91,362,180
93.256%
6,606,993
6.744%
Ken Manget
91,010,854
92.897%
6,958,318
7.103%
Sherry Porter
96,601,915
98.604%
1,367,257
1.396%
Stephen Smith
91,070,473
92.958%
6,898,699
7.042%
Marni Wieshofer
92,112,587
94.022%
5,856,585
5.978%
The biographies of the Corporation’s directors are set out in the Circular, which is available under the Corporation’s profile on SEDAR at www.sedar.com.
BAT Nominee Appointment
Organigram is also pleased to announce that BAT has designated Mr. Simon Ashton as a nominee to Organigram’s board of directors (the “Board”). Mr. Ashton has extensive expertise in finance and business leadership and is currently Group Head of New Categories and Combustibles Finance at BAT. Throughout his nearly 30-year career with BAT, Mr. Ashton has led various Finance teams across Europe, Asia, the Middle East and Africa driving revenue growth, leading business transformation initiatives and finding innovative solutions to economic challenges. In addition, he also spent time in M&A, Operations Finance, and Audit. Mr. Ashton was appointed by the newly constituted Board following the Meeting, bringing the Company’s total number of directors to nine.
“We are thrilled to welcome Simon to our Board of Directors. His deep expertise in finance, business transformation and leadership, coupled with his extensive experience with BAT, will be a tremendous asset to our Board,” said Peter Amirault, Board Chair, Organigram.
Sustainability Committee
The Company also announced it has expanded the scope of its Corporate Governance and Nominating Committee to include Sustainability initiatives. The Corporate Governance, Nominating and Sustainability Committee (the “Sustainability Committee”) has enlarged its mandate to include advising and making recommendations to the Board to assist the Board in its oversight role with respect to the establishment and monitoring of the Company’s environmental, health, safety, community relations, human rights, security and other sustainability policies. The Sustainability Committee is comprised of independent directors Geoff Machum (Chair), Sherry Porter and Dexter John. “The addition of sustainability initiatives to our formal mandate reflects our appreciation for the increasing importance of these matters to the Company and our stakeholders” said Geoff Machum, Chair of the Sustainability Committee.
About Organigram Holdings Inc.
Organigram Holdings Inc. is a NASDAQ Global Select Market and TSX listed company whose wholly-owned subsidiaries include: Organigram Inc. and Laurentian Organic Inc., licensed producers of cannabis and cannabis-derived products in Canada, and The Edibles and Infusions Corporation, a licensed manufacturer of cannabis-infused soft chews in Canada.
Organigram is focused on producing high-quality, cannabis for patients and adult recreational consumers, as well as developing international business partnerships to extend the Company’s global footprint. Organigram has also developed and acquired a portfolio of legal adult-use recreational cannabis brands, including Edison, Big Bag O’ Buds, SHRED, SHRED’ems, Monjour, Laurentian, Tremblant Cannabisand Trailblazer. Organigram operates facilities in Moncton, New Brunswick and Lac-Supérieur, Quebec, with a dedicated edibles manufacturing facility in Winnipeg, Manitoba. The Company is regulated by the Cannabis Act and the Cannabis Regulations (Canada).
Forward-Looking Information
This news release contains forward-looking information. Often, but not always, forward-looking information can be identified by the use of words such as “plans”, “expects”, “estimates”, “intends”, “anticipates”, “believes” or variations of such words and phrases or state that certain actions, events, or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results, events, performance or achievements of Organigram to differ materially from current expectations or future results, performance or achievements expressed or implied by the forward-looking information contained in this news release. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information include factors and risks as disclosed in the Company’s most recent annual information form, management’s discussion and analysis and other Company documents filed from time to time on SEDAR (see www.sedar.com) and filed or furnished to the Securities and Exchange Commission on EDGAR (see www.sec.gov). Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information and no assurance can be given that such events will occur in the disclosed time frames or at all. The forward-looking information included in this news release are made as of the date of this news release and the Company disclaims any intention or obligation, except to the extent required by law, to update or revise any forward-looking information, whether as a result of new information, future events or otherwise.
For Investor Relations enquiries:
investors@organigram.ca
For Media enquiries:
Megan McCrae, Senior Vice President Marketing and Communications
megan.mccrae@organigram.ca
Source: Organigram Holdings Inc.
$OGI Cannabis Jefferies bullish note on buy-rated OrganiGram
Schumer_Plans_To_File_Marijuana_Legalization_Bill_In_April
Mid terms are coming up in November. It would behoove everyone to write to their local senators.
2/4/22 https://www.marijuanamoment.net/schumer-plans-to-file-marijuana-legalization-bill-in-april-as-top-house-lawmaker-details-his-own-reform-plan/
thanks Hunch.... green days ahead...
...you can rave about this all you want, but the proof is in the results...which stink. So, you can keep posting all and everything that is sunshine, but until we see our bank accounts go north, your posts are meaningless.
OGI OrganiGram Hash capacity is expected to increase from 1 million to 2 million units per annum by end of calendar 2022
https://investors.organigram.ca/sites/default/files/documents/OGI_Investor%20Presentation%20_Q1_F22%20FINAL_1.pdf
Almost 7. Can Dollars in February last year. OGI
$5.00??? Wow, really??
I see a PPS of $5.00 by year end,jmho
Yawn...the time to get excited or optimistic is when the pps sustains any upward mobility. Getting back to its all-time PPS of $7.70USD, would be a great start, or a buy-out, which I believe is the likely scenario.
Thanks John:)
Agreed. Futures action is not impressive at this time.
At first glance, the numbers look great. Now, let's see what the market says today.
Organigram beats on revenue
Jan. 11, 2022 6:04 AM ETOrganiGram Holdings Inc. (OGI)By: Meghavi Singh, SA News Editor
Organigram (NASDAQ:OGI): FQ1 Net loss of $1.31M vs. net loss of $34.34M a year ago quarter.
Revenue of $30.38M (+57.2% Y/Y) beats by $7.1M.
Press Release
Q1 Fiscal 2022 adjusted gross margin was $5.5 million, or 18% of net revenue, compared to $1.9 million, or 10%, in Q1 Fiscal 2021.
Q1 Fiscal 2022 negative adjusted EBITDA improved to $1.9 million compared to $5.7 million in Q1 Fiscal 2021.
“Our positive outlook for 2022 is further bolstered by the addition of Laurentian’s premium products to our portfolio, with an increased presence in Quebec and the resumption of international sales, which will continue through the year. We are also pleased with our continued progress at improving economies of scale in our operations, thus reducing operating costs and driving significant improvements in adjusted gross margin and adjusted EBITDA. While we previously projected to achieve positive adjusted EBITDA in Q4, with the purchase of Laurentian that will be accelerated to Q3 Fiscal 2022," said Beena Goldenberg.
https://seekingalpha.com/news/3786958-organigram-beats-on-revenue?messageid=2900&utm_campaign=rta-stock-news&utm_content=link-1&utm_medium=email&utm_source=seeking_alpha&utm_term=RTA+News+Smart
OGI NEWS December 22nd, 2021...
Organigram Makes Additional $2.5 Million Investment in Hyasynth Biologicals, a Leading Cannabinoid Biosynthesis Company
With growing interest in sustainable and bio-based cannabinoids, and after completing a strategic review of Hyasynth including their intellectual property (IP) and R&D platforms, Organigram remains excited about Hyasynth’s future and growth plans
MONCTON, New Brunswick--(BUSINESS WIRE)--As an early investor in biosynthesis, Organigram Holdings Inc. (NASDAQ: OGI), (TSX: OGI), the parent company of Organigram Inc. (the “Company” or “Organigram”), a leading licensed producer of cannabis, and Hyasynth Biologicals Inc. (“Hyasynth”) a private biotechnology company and pioneer in the field of cannabinoid science and biosynthesis are pleased to announce that Organigram has acquired an additional $2.5 million of secured convertible debentures in Hyasynth (the “Debentures”). Additionally, the parties have amended certain of the Debentures’ terms purchased by Organigram from Hyasynth in previous tranches. Proceeds of the investment are designated to advance Hyasynth’s production scalability as well as investment into new cannabinoid technologies (including rare cannabinoids), business development efforts and company growth.
“Hyasynth’s advantage lies with its unique products derived from natural sugars and proprietary enzyme engineering.”
In September 2018, Organigram acquired $5.0 million of Hyasynth Debentures followed by an additional $2.5 million in October 2020. Today’s transaction brings Organigram’s total investment in Hyasynth to $10.0 million building upon previously completed milestones and recent successes of the company in advancing technology and business development. Organigram retains its two nominees to Hyasynth’s Board of Directors comprised of seven members.
In addition, Organigram continues to be a preferred partner for Hyasynth and has the option to purchase Hyasynth’s cannabinoids, subject to the terms of its agreement with Hyasynth, at a discount to the wholesale market price for a period of ten years from the date of Hyasynth’s commencement of commercial production.
“Organigram continues to be extremely focused on delivering meaningful innovation to cannabis consumers, which is why we are so excited about deepening our relationship with Hyasynth. They have achieved tremendous scientific advancement in the cannabinoid biosynthesis space with technology expected to be protected by intellectual property,” said Beena Goldenberg, Chief Executive Officer of Organigram. “Our review noted that its pathway provides greater catalytic efficiency and streamlines strain optimization which should make it more scalable than some of its competitors’ pathways. We remain committed to our investment in this strategic partner and look forward to helping Hyasynth advance its commercialization efforts.”
“Hyasynth is now at a key inflection point in bringing our products to market. Organigram has been an exceptional partner and this follow-on investment will enable us to bridge into an exciting 2022 where we intend to launch large scale production with commercial partners,” said Kevin Chen, Chief Executive Officer and Co-founder of Hyasynth. “We’ve demonstrated our ability not only to achieve scalable production of CBD/CBDA but also improve the cost of production exponentially. We are in the process of developing a series of rare cannabinoids to ultimately become the supplier of choice for sustainable and high-quality ingredients.”
Strategic Rationale
“When considering the enormous opportunity that lies ahead for cannabinoids in the medical, wellness and recreational spaces, and how they intersect with evolving research and regulatory frameworks being considered globally, we see biosynthesis as a crucial path in developing key active ingredients for cannabis-based products,” said Paolo De Luca, Chief Strategy Officer of Organigram. “Hyasynth’s advantage lies with its unique products derived from natural sugars and proprietary enzyme engineering.”
Biosynthesis is most commonly known as the primary production methodology for insulin used in the treatment of diabetes. Unlike chemical synthesis, or agricultural methods, biosynthesis results in products and final ingredients that are pesticide-free and are based on natural ingredients. Hyasynth’s biosynthesis process uses patent-pending yeast strains and enzymes to produce pure cannabinoids (not synthetic) without relying on cannabis plants. In addition to the major cannabinoids such as CBD and THC, Hyasynth has also demonstrated and submitted patent applications on the production of rare cannabinoids for which traditional cultivation is cost prohibitive since these cannabinoids are found in only very low levels in cannabis plants. Rare cannabinoids are believed to be the next frontier of cannabis research and novel cannabis product development.
The advantages of biosynthesis compared to traditional plant cultivation are expected to be as follows:
feasible production of rare cannabinoids;
reduced operating and capital costs;
consistency and purity of products (e.g. CBD without THC);
smaller environmental footprint; and
leverages existing infrastructure and techniques already popular for food and pharmaceutical ingredient production.
About Hyasynth Biologicals Inc.
Hyasynth Biologicals Inc. is a Montreal, Canada based technology company that produces pure and sustainable products through fermentation. It was founded in 2014 to satisfy a growing demand for cannabinoids by the pharmaceutical and consumer markets. Hyasynth’s proprietary fermentation technology enables scalable, low-cost production of THC, CBD, CBG, and rare cannabinoids not typically accessible by plant cultivation. Investors in Hyasynth include the venture capital firm SOSV and IndieBio, AngesQuebec, and the strategic investor, Organigram Holdings inc. For more information see www.hyasynthbio.com
About Organigram Holdings Inc.
Organigram Holdings Inc. is a NASDAQ Global Select Market and TSX listed company whose wholly owned subsidiaries include: Organigram Inc., a licensed producer of cannabis and cannabis-derived products in Canada, The Edibles and Infusions Corporation, a licensed manufacturer of cannabis-infused soft chews in Canada and Laurentian Organic Inc., a licensed producer of cannabis and cannabis-derived products in Canada.
Organigram is focused on producing high-quality, indoor-grown cannabis for patients and adult recreational consumers in Canada, as well as developing international business partnerships to extend the Company's global footprint. Organigram has also developed a portfolio of legal adult use recreational cannabis brands including The Edison Cannabis Company, Monjour, Big Bag o’ Buds, SHRED, Trailblazer, Tremblant and Laurentian. Organigram's facility is located in Moncton, New Brunswick with other manufacturing facilities in Winnipeg, Manitoba and Lac-Supérieur (near Mt. Tremblant), Quebec . The Company is regulated by the Cannabis Act and the Cannabis Regulations (Canada).
Forward-Looking Information
This news release contains forward-looking information. Often, but not always, forward-looking information can be identified by the use of words such as “plans”, “expects”, “estimates”, “intends”, “anticipates”, “believes” or variations of such words and phrases or state that certain actions, events, or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results, events, performance or achievements of Organigram to differ materially from current expectations or future results, performance or achievements expressed or implied by the forward-looking information contained in this news release. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information including achievement of milestones, prospects for biosynthesis and factors and risks as disclosed in the Company’s most recent annual information form, management’s discussion and analysis and other Company documents filed from time to time on SEDAR (see www.sedar.com) and filed or furnished to the Securities and Exchange Commission on EDGAR (see www.sec.gov). Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information and no assurance can be given that such events will occur in the disclosed time frames or at all. The forward-looking information included in this news release are made as of the date of this news release and the Company disclaims any intention or obligation, except to the extent required by law, to update or revise any forward-looking information, whether as a result of new information, future events or otherwise.
https://investors.organigram.ca/press-releases/organigram-makes-additional-25-million-investment-in-hyasynth-biologicals-a-leading
Contacts
For Organigram Investor Relations enquiries:
investors@organigram.ca
For Organigram Media enquiries:
Megan McCrae, Senior Vice President, Marketing and Communications
megan.mccrae@organigram.ca
For Hyasynth enquiries:
Kevin Chen, Chief Executive Officer and Co-founder
kevin.chen@hyasynthbio.com
Sign up to get full access to all our latest press releases.
Moncton
35 English Drive
Moncton, NB, E1E 3X3
Toronto
Bay Adelaide Centre
1250-333 Bay Street
Toronto, ON, M5H 2R2
.
Anything new?
OGI Yes, all good fun here!
Thank you john1311 !
OrganiGram Holdings Inc. 2021 Q4 - Results - Earnings Call Presentation
Nov. 23, 2021 9:02 AM ETOrganiGram Holdings Inc. (OGI)
https://seekingalpha.com/article/4471428-organigram-holdings-inc-2021-q4-results-earnings-call-presentation?utm_campaign=RTA+Articles&utm_medium=email&utm_source=seeking_alpha&utm_term=RTA+Article+Smart
Organigram Reports Fourth Quarter Fiscal 2021 Results
Nov. 23, 2021 6:00 AM ETOrganiGram Holdings Inc. (OGI)
Continued growth in net revenue and increased market share
Achieved a 7% share of market in the recreational cannabis market in Q4, up from 5.4% in Q3 2021, positioning Organigram (OGI) as the #4 licensed producer and the momentum continues with a 7.9% share of market as of October.1
24% growth in gross revenue to $36.2 million in Q4 2021 from Q3 2021 and 43% from the same prior-year period
22% growth in net revenue to $24.9 million in Q4 2021 from Q3 2021 and 22% from the same prior-year period
36% growth in recreational net revenue to $22.9 million in Q4 2021 from Q3 2021 and 52% from the same prior-year period
https://seekingalpha.com/pr/18573712-organigram-reports-fourth-quarter-fiscal-2021-results
Organigram beats on revenue
Nov. 23, 2021 6:02 AM
Revenue of $24.87M (+21.9% Y/Y) beats by $6.19M.
https://seekingalpha.com/news/3773641-organigram-beats-on-revenue?utm_campaign=rta-stock-news&utm_content=link-1&utm_medium=email&utm_source=seeking_alpha&utm_term=RTA+News+Smart
That's what stocks do, they move-up and down. OGI
What is wrong with this company!? One day it has great press and does well, then the bottom drops out. Very frustrating.
KK thanks for the heads up
OGI has been pretty active lately:)
With Beena G. now as CEO this stock is headed in only one direction. Just look at what she did at Supreme to see which way that is.
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Efficient Vertical Growth Infrastructure! | 137 000 sq ft. Expansion Under Construction! | Recreational Edibles Coming! |
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