Organigram Holdings Inc. (TSX: OGI and NASDAQ: OGI), the parent
company of Organigram Inc. (collectively “Organigram” or the
“Company”), a leading licensed producer of cannabis, provided a
corporate update today.
Continued Market Share Momentum
Organigram continues its strong market share growth trajectory
in Canada, securing the #3 market share position1 among Canadian
licensed producers for the second month in a row. Additionally, it
maintains its #1 market share1 position in dried flower, the
largest category, which represents approximately half of the
market.
“The growth and progress we have made in a relatively short time
are a testament to the great brands and products we are putting
into the market, which clearly continue to resonate with
consumers,” said Beena Goldenberg, CEO of Organigram.
“Additionally, we continue to reap the benefits of the strategic
acquisitions of our edibles facility and the recently acquired
Laurentian, which both support the strong market share growth we
see today,” she concluded.
Laurentian Integration Update
In December 2021, as a part of its ongoing expansion strategy,
the Company acquired Quebec-based Laurentian Holdings Inc.
(“Laurentian”), strengthening its position in the second most
populous province of Quebec.
Business leaders at Organigram and Laurentian continue to work
together toward a successful integration across all departments,
including human resources, sales, R&D, operations, marketing,
and finance. This integration supports the synergies identified at
the time of acquisition.
Leveraging Organigram’s industry leading national distribution
and sales network, Laurentian products are expected to be available
in a total of nine provinces within the next three months, up from
three provinces in December. Since the acquisition, the Company has
also accelerated the distribution and sale of its flagship hash
brand, Tremblant Cannabis, in Ontario, increasing distribution from
25% to 40% of retail stores and growing quarterly sales by 21% in
fiscal Q2 vs. fiscal Q1 of 2022.
Finally, kief production from the Company’s Moncton facility,
which was identified as a pre-acquisition synergy, is surpassing
initial targets both in terms of quality and volume and is being
made available to support the production of hash at the Laurentian
facility.
Construction and facility expansion efforts are on schedule at
Laurentian’s site in Lac-Supérieur. The construction and licensing
for the additional space is currently expected to be completed by
the summer of 2022, with the additional cultivation and optimized
production expected to be achieved by the end of calendar 2022.
New Product Launches
As a part of its continued expansion plans, and to support
further market share growth, Organigram has launched a range of new
products since the last quarter.
Owing to the popularity of its flagship brand Edison, the
Company launched two new strains of premium dried flower:
Edison Kush Cakes - This OG
indica-dominant cultivar is the offspring of the powerhouse
genetics, Wedding Cake x Kush Mints, delivering a high potency of
22-28% THC.
Edison Frozen Lemons - Edison’s Frozen
Lemons is a special phenotype of Cap’s Frozen Lemons, a unique
cross between Fruity Pebbles OG (Britney Spears Cut) x Cap's Frozen
Lemons. This sativa-dominant strain smells and tastes like a tall
glass of zesty lemonade and delivers on a potency range of 20%-26%
THC.
In addition, the Company also launched exciting new products to
the SHRED and Big Bag ‘O Buds product lines:
SHRED’ems Line Extensions - In August
2021, the Company launched SHRED’ems, its high-quality and bold
flavoured lineup of cannabis-infused gummies. Ever since, SHRED’ems
has been gaining popularity and today holds the #3 market share
position1 in the gummies category. Building on the popularity of
this launch, the Company recently launched the SHRED’ems POP!
lineup, featuring 3 classic pop flavours (Cola, Rootbeer, and Cream
Soda), and added two new sour flavours (Sour Apple Slap and Sour
Blue Razzberry). With these new additions, the SHRED’ems brand now
has a total of eight SKUs in its lineup.
SHRED X Vapes-Another launch by
the Company is the Shred-X 510 vape cartridges. Created with custom
designed profiles inspired by the unique flavour profiles of its
popular pre-milled products, Tropic Thunder, Megamelon and
Gnarberry, each has a unique blend of terpenes for a true cannabis
flavour.
SHRED X Kief-Infused Blends –
Targeting a 50% / 50% blend of pre-milled flower and kief, SHRED X
Kief offers the convenience and flexibility of SHRED, with the
added potency of kief, yet another new product reflecting the
Company’s commitment to consumer-driven innovation.
Big Bag ‘O Buds Pink Cookies-
Delivering on a potency of 18-24% THC, Pink Cookies is an
indica-dominant strain created by crossing Girl Scout Cookies and
Cherry Pie, resulting in a complex and flavourful bud.
1. Source: HiFyre, Feb 2022
About Organigram Holdings Inc.
Organigram Holdings Inc. is a NASDAQ Global Select Market and
TSX listed company whose wholly owned subsidiaries include:
Organigram Inc. and Laurentian Organic Inc., licensed producers of
cannabis and cannabis-derived products in Canada, and The Edibles
and Infusions Corporation, a licensed manufacturer of
cannabis-infused edibles in Canada.
Organigram is focused on producing high-quality, cannabis for
patients and adult recreational consumers, as well as developing
international business partnerships to extend the Company’s global
footprint. Organigram has also developed and acquired a portfolio
of legal adult-use recreational cannabis brands, including Edison,
Big Bag O’ Buds, SHRED, SHRED’ems, Monjour, Laurentian, Tremblant
Cannabis and Trailblazer. Organigram operates facilities in
Moncton, New Brunswick and Lac-Supérieur, Quebec, with a dedicated
edibles manufacturing facility in Winnipeg, Manitoba. The Company
is regulated by the Cannabis Act and the Cannabis Regulations
(Canada).
Forward-Looking
Information
This news release contains forward-looking information. Often,
but not always, forward-looking information can be identified by
the use of words such as “plans”, “expects”, “estimates”,
“intends”, “anticipates”, “believes” or variations of such words
and phrases or state that certain actions, events, or results
“may”, “could”, “would”, “might” or “will” be taken, occur or be
achieved. Forward-looking information involves known and unknown
risks, uncertainties and other factors that may cause actual
results, events, performance or achievements of Organigram to
differ materially from current expectations or future results,
performance or achievements expressed or implied by the
forward-looking information contained in this news release. Risks,
uncertainties and other factors involved with forward-looking
information could cause actual events, results, performance,
prospects and opportunities to differ materially from those
expressed or implied by such forward-looking information include
changes or delays to construction schedules and timelines as a
result of supply chain issues or otherwise, receipt of any required
regulatory approval for licensing, changes to market conditions and
consumer preferences, and factors and risks as disclosed in the
Company’s most recent annual information form, management’s
discussion and analysis and other Company documents filed from time
to time on SEDAR (see www.sedar.com) and filed or furnished to the
Securities and Exchange Commission on EDGAR (see www.sec.gov).
Readers are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of the date of this
press release. Although the Company believes that the assumptions
and factors used in preparing the forward-looking information in
this news release are reasonable, undue reliance should not be
placed on such information and no assurance can be given that such
events will occur in the disclosed time frames or at all. The
forward-looking information included in this news release are made
as of the date of this news release and the Company disclaims any
intention or obligation, except to the extent required by law, to
update or revise any forward-looking information, whether as a
result of new information, future events or otherwise.
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version on businesswire.com: https://www.businesswire.com/news/home/20220324005999/en/
For Investor Relations enquiries: investors@organigram.ca For Media
enquiries: Megan McCrae, Senior Vice President Marketing and
Communications megan.mccrae@organigram.ca
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