organigram

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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Canadian marijuana firm Organigram reports improved quarterly revenues, net loss

Organigram, a Canadian cannabis producer that trades on a major U.S. exchange, reported net revenues of 24.8 million Canadian dollars ($18.6 million) for the fiscal third quarter ended May 31, up from CA$3.44 million in the same period last year. Net loss for the quarter for the New Brunswick-based company was CA$10.2 million, compared with […]

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Canadian Chamber throws weight behind marijuana industry

Canada’s largest business association is throwing its weight behind the cannabis industry. Canada must do more to realize the full economic potential of the country’s marijuana sector, according to the Canadian Chamber of Commerce. The Chamber has established the National Cannabis Working Group to advocate on businesses’ behalf to improve the sector’s competitiveness. “This partnership […]

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Organigram ‘actively seeking beverage partner’: Q&A with CEO Greg Engel

As Canada’s biggest cannabis producers lose money hand over fist, companies that execute successfully in their home country and overseas are poised to stand out. One such company is Organigram. The New Brunswick-headquartered producer is laying the groundwork to capitalize on the next round of legalization in Canada – the launch of the edibles, extracts […]

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Cannabis oversupply in Canada may be closer than some expect, bank warns

One of Canada’s top banks acknowledged the adult-use cannabis industry’s rocky start but still expects to see “substantial growth” for the rest of the year as supply constraints are alleviated. Scotiabank also warned that the cannabis market will become heavily oversupplied in the medium to long term. “Producers we have spoken to are generally aware […]

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Canadian cannabis producer Organigram to list on Nasdaq

Organigram, a New Brunswick-based marijuana producer, will begin trading on the Nasdaq on May 21. The company will join other major Canadian producers listed on senior U.S. exchanges, such as Aurora Cannabis, Canopy Growth, Cronos and Tilray. Organigram will continue to maintain its TSX Ventures Exchange listing but will cease trading on U.S. over-the-counter markets […]

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Canada’s adult-use cannabis market boosts Organigram’s Q2 results

Higher plant yields helped New Brunswick-based Organigram slash its “all-in” cost of cultivation to 85 Canadian cents per gram (63 cents) – among the lowest in the industry – on gross revenues of CA$33.4 million in its second fiscal quarter results. The results for the period December to February take into account the company’s first […]

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Wall Street bank: Fears on cannabis commoditization overdone

A New York-based investment bank initiated coverage of the cannabis industry Monday, another sign that Wall Street prudence is catching up to main street excitement over the burgeoning sector. The global marijuana industry has a “base-case conservative” forecast worth roughly $50 billion in the next decade, Jefferies Group said in its initiating report, and a […]

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New Brunswick signs new cannabis supplier amid shortage, in talks with others

New Brunswick’s wholesaler of adult-use marijuana signed up another supplier to meet sky-high demand, and the province confirmed it is in talks with other licensed producers to fill a significant supply shortfall. Supreme Cannabis Company subsidiary 7Acres entered into an agreement with the New Brunswick Liquor Corp. (NBLC) to supply an undisclosed amount of marijuana […]

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