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CannabisNewsBreaks – Organigram Holdings Inc. (TSX.V: OGI) (OTCQX: OGRMF) Posts Q2 Fiscal 2019 Financial, Operational Results

Company: Organigram Holdings Inc. (OGRMF)
Category: News

Organigram Holdings (TSX.V: OGI) (OTCQX: OGRMF), the parent company of Organigram Inc., this morning reported financial results for the second quarter ended February 28, 2019, which marks the first full quarter of adult-use recreational cannabis sales for the company. Among other highlights, the company reported a record net revenue of $26.9 million (less excise taxes) for the quarter, which represents more than double the net revenue for the previous quarter. The company also recapped operational achievements for the period, including its entrance into a letter of intent (“LOI”) with SQDC and its entrance into a multi-year extraction agreement with Valens GroWorks Corporation. “For the second consecutive quarter, our results reflected operational excellence which translated into record revenue for the company, industry-leading adjusted gross margin, and positive adjusted EBITDA, all of which differentiates us from most of the Canadian industry today. Our team has already progressed several key initiatives in preparation for the derivative and edibles launch in the fall of 2019. We are excited about the significant growth ahead expected from these new products, our expanding capacity, our strategic partnerships, and our relentless focus on continuous improvement to consistently deliver high quality product to our customers,” Organigram CEO Greg Engel stated in the news release.

To view the full press release, visit http://cnw.fm/bOXx1

About Organigram Holdings Inc.

Organigram Holdings Inc.’s wholly owned subsidiary, Organigram Inc., is a licensed producer of cannabis and cannabis-derived products in Canada. Organigram is focused on producing the highest-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, Ankr Organics, Trailer Park Buds and Trailblazer. Organigram’s primary facility is located in Moncton, New Brunswick and the company is regulated by the Cannabis Act and the Cannabis Regulations (Canada). For more information, visit the company’s website at www.Organigram.ca.

NOTE TO INVESTORS: The latest news and updates relating to OGRMF are available in the company’s newsroom at http://cnw.fm/OGRMF

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