Organigram Shares Q2 Financial Results

Organigram Holdings (TSXV:OGI; OTCQB:OGRMF) offered an update on the financial results for the three and six months which ended February 28, 2018.

As quoted in the press release:

“We are incredibly proud of what we have achieved in Q2 as we registered record sales and a profit for the quarter,” said Greg Engel the Company’s CEO, “but we have also significantly bolstered our balance sheet and from an operational and sales and marketing perspective we are well positioned to take full advantage of not only the medical market but also the burgeoning adult recreational and international opportunities as well.”

Outlook

• Phase 3 expansion expected to be complete for the start of filling of rooms with first cannabis plants by June 1, 2018bringing the Company’s pro-forma run-rate capacity to 36,000 kg/yr;
• The Company intends to launch its adult-recreational brand strategy on or about May 15, 2018; and
• Organigram expects to announce one or more strategic or international investments in the upcoming quarter.

Click here to read the full press release.

Source: www.newswire.ca