TORONTO, March 24, 2022–(BUSINESS WIRE)–Organigram Holdings Inc. (TSX: OGI and NASDAQ: OGI), the parent company of Organigram Inc. (collectively “Organigram” or the “Company”), a major licensed producer of cannabis, has provided a company update today.
Continued market share momentum
Organigram continues its strong market share growth trajectory in Canada, securing the third position in terms of market share1 among Canadian licensed producers for the second consecutive month. Plus, it maintains its #1 market share1 position in dried flower, the largest category, which accounts for about half of the market.
“The growth and progress we’ve made in a relatively short time is a testament to the great brands and products we bring to market, which clearly continue to resonate with consumers,” said Beena Goldenberg, CEO of Organigram. “In addition, we continue to reap the benefits of the strategic acquisitions of our recently acquired Edibles plant and Laurentian, both of which support the strong market share growth we are seeing today.” she concluded.
Laurentian Onboarding Update
In December 2021, as part of its continued expansion strategy, the Company acquired Quebec-based Laurentian Holdings Inc. (“Laurentian”), strengthening its position in Quebec’s second most populous province.
Organigram and Laurentian business leaders continue to work together for a successful integration across all departments, including human resources, sales, R&D, operations, marketing and finance. This integration supports the synergies identified during the acquisition.
Leveraging Organigram’s industry-leading national distribution and sales network, Laurentian’s products are expected to be available in a total of nine provinces over the next three months, up from three provinces in December. Since the acquisition, the Company has also accelerated the distribution and sales of its flagship hash brand, Tremblant Cannabis, in Ontario, increasing distribution from 25% to 40% of retail stores and increasing quarterly sales by 21% in T2 compared to T1. of 2022.
Finally, kief production from the Company’s Moncton plant, which has been identified as a pre-acquisition synergy, is exceeding original targets in both quality and volume and is being made available to support hash production. at the Laurentian plant.
The construction and expansion work on the facilities is proceeding on schedule at the Laurentian site in Lac-Supérieur. Construction and licensing of the additional space is currently expected to be completed by summer 2022, with additional cultivation and optimized production to be completed by the end of calendar year 2022.
New product launches
As part of its ongoing expansion plans and to support market share growth, Organigram has launched a range of new products since the last quarter.
Due to the popularity of its flagship Edison brand, the Company has launched two new strains of premium dried flowers:
Edison Kush Cakes – This indica-dominant OG cultivar is the offspring of central genetics, Wedding Cake x Kush Mints, delivering a high potency of 22-28% THC.
Edison Glazed 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 tangy lemonade and offers a potency range of 20% to 26% THC.
In addition, the company has also launched exciting new products in the SHRED and Big Bag ‘O Buds product lines:
SHRED’ems Line Extensions – In August 2021, the company launched SHRED’ems, its line of high-quality cannabis gummies with bold flavors. Since then, SHRED’ems has grown in popularity and now holds the #3 position in terms of market share.1 in the gum category. Building on the popularity of this launch, the company recently launched the SHRED’ems POP! range, including 3 classic pop flavors (Cola, Rootbeer and Cream Soda), and added two new sour flavors (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 flavor profiles of its popular pre-crushed products, Tropic Thunder, Megamelon and Gnarberry, each has a unique blend of terpenes for a true cannabis flavor.
Kief Infused SHRED X Blends – Targeting a 50%/50% blend of pre-ground flowers 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 innovation. consumer-oriented.
Big Bag ‘O Buds Pink Cookies- Delivering 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 flavorful bud.
1. Source: HiFyre, February 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 manufacturer of cannabis-infused edibles in Canada.
Organigram is focused on producing high-quality cannabis for patients and adult recreational users, as well as developing international business partnerships to expand 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 governed by the Cannabis Act and the Cannabis Regulations (Canada).
This press 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 “could”, “could”, “would”, “could” or “would” be taken, occur or be achieved. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause Organigram’s actual results, events, performance or achievements to differ materially from current expectations or future results, performance or achievements expressed or implied by the forward-looking information contained in this press release. The risks, uncertainties and other factors involved in 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, including changes or delays in construction schedules and delays as a result of supply chain or other issues, the receipt of any regulatory approval required for licensing, changes in market conditions and consumer preferences, and factors and risks such as disclosed in the Company’s most recent Annual Information Form, MD&A and other Company documents filed from time to time on SEDAR (see www.sedar.com) and filed or furnished with 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 contained in this press release are reasonable, undue reliance should not be placed on such information and no assurance can be given that such events will occur. within the disclosed time frame or at all. The forward-looking information included in this press release is made as of the date of this press 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 either as a result of new information, future events or otherwise.
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