organigram

Organigram loss widens on shrinking cannabis revenue in third quarter

Canadian cannabis producer Organigram Holdings reported a continued slide in net revenue for the third quarter of 2020, down by 22% from the second quarter to $18 million Canadian dollars ($13.4 million). Organigram previously warned investors about the revenue decrease for the quarter ended May 31. The New Brunswick-based company attributed the revenue slump to […]

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Organigram becomes latest cannabis producer to slash jobs, production target

Canadian marijuana producer Organigram cut its workforce by about 25% and said production levels will be below capacity “for the foreseeable future.” Organigram described the cuts in a news release as “an effort to better align its production capacity to prevailing market conditions.” The New Brunswick-based company first warned that the COVID-19 pandemic could lead […]

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Health Canada: ‘Any celebrity affiliation with cannabis has potential to be noncompliant’

Any celebrity affiliation with a cannabis product, including promotions and marketing, has the potential to be noncompliant with federal law, according to Canada’s cannabis regulator. The warning comes as some major Canadian cannabis producers continue offering brands affiliated to varying degrees with celebrities or popular fictional characters. The regulator has taken notice. In April, Health […]

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Cannabis sector can boost economy post-pandemic, Canadian chamber says

Canada’s cannabis industry can help create jobs in the post-pandemic economic recovery, the nation’s largest business association says, despite challenges recently faced by some domestic producers. To that end, the National Cannabis Working Group – an offshoot of the Canadian Chamber of Commerce – has formed two councils to address headwinds and opportunities. Those bodies […]

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Alberta’s online cannabis store pauses chocolate sales due to melting concerns

Alberta’s government-operated online cannabis retailer is pausing internet sales of cannabis-infused chocolates for more than two months, citing the effects of summer heat on chocolate shipments to consumers. “To avoid our online customers receiving melted products, chocolates won’t be available online from June 29, 2020, to September 7, 2020, subject to change pending weather conditions,” […]

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Ontario Cannabis Store report shows Aurora leading flower sales, COVID-19 sales boost

New data released by the Ontario Cannabis Store (OCS) reveals key details about marijuana sales and consumer preferences in Canada’s largest province, including: Total provincial sales approached 400 million Canadian dollars ($297.6 million) for the OCS fiscal year. Recreational cannabis sales are dominated by dried flower and pre-rolls amid a limited early rollout of edibles, […]

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Organigram posts revenue decline, net loss in second quarter

Organigram Holdings Corp. saw net revenue decline on a quarterly basis in the second quarter of its fiscal year, from 25.2 million Canadian dollars ($18.1 million) in the first quarter of 2020 to CA$23.2 million in the quarter ended Feb. 29. Medical, wholesale and international revenues all declined in the latest quarter, the New Brunswick-based […]

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Organigram temporarily lays off 400 workers due to COVID-19

New Brunswick-based cannabis cultivator Organigram Holdings has temporarily laid off roughly 400 employees as a result of the COVID-19 pandemic, the company announced late Monday. That reduction represents about 45% of Organigram’s workforce. The layoffs were made “primarily to help boost COVID-19 containment efforts” and the majority were voluntary, the company said in a news release. […]

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Organigram expects layoffs, production decrease from COVID-19

Canadian cannabis company Organigram is anticipating voluntary and nonvoluntary layoffs as well as a slowdown in production and packaging as a result of the COVID-19 pandemic. The New Brunswick-based producer is currently “managing its production and staffing levels at its Moncton facility – where not all functions can be addressed remotely – to protect the […]

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Organigram blames Ontario’s slow retail build-out in lower revenue guidance

Citing Ontario’s slow cannabis retail build-out, Organigram Holdings issued revenue guidance for expected fourth-quarter net revenue of 16.3 million Canadian dollars ($12.3 million), a substantial decline from the previous quarter’s CA$24.8 million. Analysts had expected the New Brunswick producer to report quarterly net revenue of about CA$27 million. That prompted a downgrade from Bank of […]

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