|Bid||2.5800 x 2900|
|Ask||2.5900 x 3200|
|Day's Range||2.5400 - 2.6400|
|52 Week Range||2.0000 - 8.4400|
|Beta (3Y Monthly)||3.94|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
Organigram Holdings Inc. (“Organigram” or the “Corporation”) (OGI.TO) (OGI) announced today that it has established an at-the-market equity program (the “ATM Program”) that allows the Corporation to issue up to C$55,000,000 (or its U.S. dollar equivalent) of common shares (“Common Shares”) from treasury to the public from time to time, at the Corporation’s discretion. Any Common Shares sold in the ATM Program will be sold through the Toronto Stock Exchange (the “TSX”), the NASDAQ Global Select Market (the “NASDAQ”) or any other marketplace on which the Common Shares are listed, quoted or otherwise traded, at the prevailing market price at the time of sale.
Cannabis company Organigram Holdings Inc. is gearing up for the production of vape pens, cannabis infused chocolates and powdered beverages even as it faces uncertain demand for recreational marijuana.The company said Monday it submitted new product notifications to Health Canada for a portfolio of vape pens and cannabis infused chocolates in October and expects to launch some vape pens next month and chocolates in the first three months of 2020.Sales of powdered products to be added to a consumer's beverage of choice are expected in the second quarter of 2020."This unique product allows us to enter the beverage space without having to secure bottling or canning equipment and incurring significant transport costs associated with liquid beverages," CEO Greg Engel told analysts during a conference call.The company based in Moncton, N.B., expects substantial construction of additional in-house extraction capacity and expanded vape pen filling space to be completed by the end of calendar 2019 at a cost of $60 million to $65 million.It has also almost completed an automated chocolate production line which includes a chocolate moulding line and a fully integrated packaging line with advanced engineering, robotics, high-speed labelling and automated carton packing.While Phase 5 expansion is continuing, the company has paused completion of its Moncton Phase 4 cultivation facility at 70 per cent for recreational marijuana until there's more clarity on retail expansion in Canada, especially in Ontario."At this time, we believe this is adequate supply, adequate capacity to take advantage of the market opportunity in the short to medium term until market matures," Engel said.The company had warned earlier this month that revenue in its fourth-quarter would be lower than the third quarter.However, Organigram said Monday it expects net revenue in the first-quarter of its 2020 financial year to rise compared with the fourth quarter of its 2019 financial year due to increased sales to provinces and higher wholesale revenue.In reporting its full financial results, Organigram said its net loss from continuing operations totalled $22.5 million or 14 cents per diluted share for the quarter ended Aug. 31 compared with a profit of $18.1 million or 12 cents per share a year ago, due to non-cash fair value changes to biological assets and inventories.Net revenue for its fourth quarter totalled $16.3 million, up from $3.2 million a year ago. However, the result was down from net revenue of $24.8 million in the third quarter.It blamed slower than expected store openings in Ontario that was further exacerbated by increased industry supply. The company also said it faced a high amount of product returns in the quarter related to two products sold to the Ontario Cannabis Store.For the full-year, the company lost $9.5 million on $80.4 million of net revenue, compared with a $22.1 million profit on $12.4 million of revenues in 2018. The results included a gain of $10.6 million in fair value changes to biological assets and inventories, compared with a gain of $46 million a year ago.This report by The Canadian Press was first published Nov. 25, 2019.Companies in this story: (TSX:OGI) Ross Marowits, The Canadian Press
The Canadian cannabis producer blames a “lack of sufficient retail network and slower than expected store openings in Ontario” and rising industry-wide supply for the drop.
MONCTON, New Brunswick-- -- 2019 net revenue grew 547% to $80.4 million from $12.4 million in 2018 2019 gross margin before fair value changes to biological assets and inventory grew 575% to $37.9 million or 47% of net revenue from $5.6 million or 45% of net revenue in 2018 2019 net loss from continuing operations of $9.5 million compared to net income from continuing operations of $22.1 million in ...
The last three months have been tough on OrganiGram Holdings Inc. (TSE:OGI) shareholders, who have seen the share...
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MONCTON, N.B. — Shares in Organigram Holdings Inc. were hit hard Tuesday after the cannabis company said its fourth-quarter net revenue is expected to be lower than what the company saw in its third quarter.The cannabis producer's shares closed down 89 cents or 19.96 per cent at $3.57 on the Toronto Stock Exchange.Organigram says it expects net revenue for the quarter ended Aug. 31 to amount to $16.3 million, including $20.0 million of shipments in the quarter and about $3.7 million in provisions for product returns and pricing adjustments.That compared with net revenue of $24.8 million in the third quarter.Net revenue for the company's full financial year is expected to be $80.4 million.Organigram is expected to report its full results for its financial year on Nov. 25.This report by The Canadian Press was first published Nov. 12, 2019.Companies in this story: (TSX:OGI) The Canadian Press
Shares of Organigram plunged in early trading on Tuesday after the cannabis producer issued guidance suggesting fourth-quarter net sales will be $16.3 million.
Organigram Holdings Inc. (OGI) (OGI), the parent company of Organigram Inc. (the “Company” or “Organigram”), a leading licensed producer of cannabis, provided a corporate update today and announced details for its fiscal fourth quarter ended August 31, 2019 (“Q4 2019”) and full year 2019 conference call. The Company is scheduled to report its fourth quarter and full year earnings results for its fiscal year ended August 31, 2019 on Monday, November 25, 2019 before market open. For the fiscal full year 2019, the Company expects to report year-over-year growth in net revenue of approximately 547% to about $80.4 million as well as positive adjusted EBITDA for the year.
Organigram Holdings Inc. (OGI) (OGI), the parent company of Organigram Inc. (the “Company” or “Organigram”), a leading licensed producer of cannabis, is pleased to announce that the Company was honoured on November 8 at the Canadian Cannabis Awards Gala in Toronto with the Top Product Award in the High THC Bottled Oil Category for its medical product, Rossignol. The annual ceremony honours outstanding people, products and companies in Canadian cannabis. “We are incredibly proud of our teams, whose dedication and commitment to creating thoughtful, innovative products and brands was celebrated last night in a room full of our peers,” said Greg Engel, CEO, Organigram.
Organigram Holdings Inc. (OGI) (OGI), the parent company of Organigram Inc. (the “Company” or “Organigram”), a leading licensed producer of cannabis is pleased to offer its support for the Ontario provincial government’s planned improvements to that province’s retail cannabis program announced yesterday. “The Ontario government has demonstrated today that it is listening to the legal cannabis sector and that it values the contribution this industry makes to the Ontario economy,” said Organigram CEO Greg Engel, following the announcement.
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