organigram

Organigram CEO Engel exits struggling marijuana producer

Greg Engel, longtime CEO 0f Moncton, New Brunswick-based marijuana producer Organigram Holdings, is stepping away from the struggling business, effective immediately, the company said early Monday. No reason was given for Engel’s departure. The current board chair, Peter Amirault, will oversee day-to-day management of the company until a permanent CEO is appointed. Engel will stay […]

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Organigram reports CA$66.4 million loss on falling cannabis sales

New Brunswick-based cannabis producer Organigram’s net revenue fell to a multiyear low of 14.6 million Canadian dollars ($11.6 million) in its December 2020-February 2021 quarter, the company said Tuesday. Organigram’s revenue has trended lower since reaching an all-time high of CA$26.9 million in the quarter ended Feb. 28, 2019 – the first full quarter of […]

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Why cannabis producer Organigram struck a CA$220 million deal with a tobacco giant: Q&A with CEO Greg Engel

While rival Canadian cannabis producers plowed massive amounts of capital into cultivation infrastructure, losing billions of dollars in the process, New Brunswick-based Organigram forged a different path. Organigram – which trades on the Nasdaq and the Toronto Stock Exchange as OGI – chose instead to focus on products and brands while enduring some bumps along […]

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Will GW’s multibillion-dollar sale ‘open floodgates’ to pharma-cannabis deal-making?

Jazz Pharmaceuticals’ planned $7.2 billion takeover of United Kingdom-based GW Pharmaceuticals could kick off a wave of deal-making between pharma and medical cannabis companies, analysts and industry sources say. But rather than all cannabis producers benefiting, only businesses that have marketable intellectual property and an established foothold in the medical cannabinoid arena will draw serious […]

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Organigram revenue stalls on erratic inventory, unfulfilled demand

New Brunswick-based cannabis producer Organigram continues to struggle, reporting lower sales and a bigger loss for its first quarter ended Nov. 30, 2020. Net revenue for the three-month period fell to 19.3 million Canadian dollars ($15 million), lower than the previous quarter’s CA$20.4 million. Organigram’s adjusted EBITDA loss grew to CA$6.4 million from a loss […]

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Canadian cannabis firm Organigram reports CA$136M loss for year

New Brunswick-based cannabis producer Organigram reported a net loss of 136 million Canadian dollars ($105 million) for its fiscal year 2020, a substantial increase from the company’s previous annual loss of CA$9.5 million. Organigram lost CA$39 million in the quarter ended Aug. 31, an improvement compared with the CA$90 million loss it reported in the […]

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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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