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Organigram And This Canadian Cannabis Brand Expand In Europe And Beyond

By Jelena Martinovic
May 28, 10:20 AM
Germany's recent legislative push in the cannabis sector marks a significant turning point not only for the country but also for the European cannabis landscape. Europe has become more open-minded about medical and recreational marijuana over the recent years which is why the growing number of the North American cannabis operators that opted to venture into the new market doesn't come as a surprise. On Tuesday, Toronto-based cannabis giant Organigram Holdings Inc. (NASDAQ: OGI) (TSX: OGI) announced its second international medical cannabis customer in the UK, Avida Medical, a full-service medical cannabis and specials medicines manufacturing business.In the meantime, this week, Canadian cannabis brand Ghost Drops, announced an exclusive partnership with SOMAÍ Group, an international cannabinoid biopharma company with distribution channels.

OGI

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Organigram Reports 16% YoY Revenue Drop But Kicks Off Year ‘With A Bang,’ Says CEO On Hundreds Of Millions In Tobacco Giant BAT Investment

By Jelena Martinovic
February 13, 11:45 AM
Canadian cannabis producer Organigram reported a 16% decrease in net revenue for Q1 2024 due to a reduction in international revenue and medical sales. The company announced in November that it had received a CA$124.6m ($93m) strategic equity investment from BT DE Investments, a subsidiary of tobacco company British American Tobacco. Organigram shareholders approved the investment in January, and the company completed the first tranche of the investment for $41.5m. CEO Beena Goldenberg said the investment had removed a significant amount of risk from Organigram's business and enhanced its competitive advantages. The investment allows the cannabis producer to utilize its facilities, research and development capabilities, and market leadership to expand its reach within the Canadian market and beyond. Organigram's Q1 financial highlights included a drop in gross margin, an increase in selling and administrative expenses, a net loss of CA$15.8m, and positive adjusted EBITDA of CA$135,000.

BTI

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These 2 Canadian Cannabis Companies Forge Ahead In European Markets With German, Dutch Ventures

By Jelena Martinovic
January 31, 5:22 PM
Sanity Group, a German cannabis company, has received its first shipment of bulk dried flower from Canadian producer Organigram Holdings. Also in the European market, Village Farms International has begun building its first indoor cannabis-growing facility in the Netherlands through its Dutch subsidiary Leli Holland.

ACB

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Key Leadership Changes In Cannabis You Should Know About As We Head Into 2024

By Jelena Martinovic
December 22, 5:31 PM
This month, the Indigenous Cannabis Industry Association held its first Indigenous Cannabis Regulators roundtable, bringing together Indigenous Cannabis Regulators from Tribal Nations and Indigenous-led cannabis organizations across the United States to discuss community-oriented approaches to hemp and cannabis regulation. The event was part of the association's annual National Indigenous Cannabis Policy Summit, which aims to promote economic benefits and professional development for Indigenous communities through responsible, community-oriented planning around cannabis. Meanwhile, trade show and media company Emerald Holding has promoted Emilie Lewis to senior vice president, where she will oversee marketing, audience, and content strategy for Marijuana Business Daily. The move comes following the departure of former MJBiz senior vice president Pam Moore. Additionally, several cannabis companies have reported board shake-ups, while Trulieve Cannabis and Organigram Holdings have named new chief financial officers.

CSE:INNO

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Organic Growth And Innovation Drive YoY Increase In Cannabis Producer Organigram’s Q4 Revenue And Adjusted EBITDA

By Jelena Martinovic
December 19, 12:41 PM
Canadian cannabis producer Organigram Holdings reported an 11% year-over-year increase in net revenue for the fourth quarter, reaching C$A161.6 million ($121 million). The company credited the growth to its focus on innovative products that meet consumer demand for convenience, such as pre-rolls and edibles. The increase in revenue contributed to a 71% rise in adjusted EBITDA to nearly CA$6m for the quarter, compared with the same period in 2022. Organigram's adjusted gross margin was CA$40.2m, up 20% on 2022. The company also reported a net loss of CA$248.6m, compared with CA$14.3m in 2022, due to impairments on property, plant and equipment, intangibles and goodwill. Organigram said it expects improved margins in future as efficiency gains from facility upgrades and expansion into higher-margin categories such as craft flower and vapes bear fruit.

OGI