SEATTLE, WA--(Marketwired - Jan 30, 2017) - CFN Media Group ("CFN Media"), the leading agency and digital media network dedicated to legal cannabis, today announced publication of an article covering Organigram Holdings, Inc. (OTCQB: OGRMF) (TSX VENTURE: OGI). The article discusses recent financial results and other corporate developments as the licensed producer continues growth and prepares for full legalization of cannabis in Canada.
The rigorous process of becoming a licensed producer of cannabis has created a significant barrier to entry. Whereas Colorado has over 2,500 cannabis businesses, Canadian regulators have approved only 38 licensed producers throughout the country. Cannacord Genuity believes that this could create a shortfall of supply in the legalized market over the short-term until production capacities catch up by 2020 -- an opportunity for existing LPs and investors.
Organigram has seen tremendous top- and bottom-line growth alongside other licensed producers. Last quarter, the company reported revenue that increased 116% to $2,230,671 with gross margins that increased from 55% to 65% year over year. Adjusted EBITDA swung from a $62,072 loss to a $272,839 gain, while cash flow increased 1,873% to $510,015.
Organigram plans to grow production capacity while prudently managing its capital and preserving shareholder value. In particular, the company is pursuing on-site expansion initiatives designed to increase production capacity to 17,000 kilograms per year by early 2018. The company also recently announced that it acquired adjacent property for infused product manufacturing in collaboration with TGS International in Colorado.
The company also added Michel Robichaud to its senior management team as Director of Edibles & Extraction, which could help bolster its efforts to move into higher margin products. As a chemist with over 20 years of senior business leadership experience, he has led international projects with companies like JD Irving and Rio Tinto. Taken together, these bits of news add up to an aggressive plan to address and prepare for the upcoming recreational market with a wider variety of consumer products.
Please follow the link to read the full article: http://www.cannabisfn.com/organigram-ogrmf-strong-growth-with-numerous-catalysts-ahead/
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