Business
Organigram Reports Record Net Sales, Record Cannabis Oil Sales and Increased Number of Registered Medical Patients
Organigram Reports Record Net Sales, Record Cannabis Oil Sales and Increased Number of Reg...
About this update from Organigram Global Inc.
[{"type":"text","content":"\n\n\n\nOrganigram Reports Record Net Sales, Record Cannabis Oil Sales and Increased Number of Registered Medical Patients\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nMONCTON, NB, Jan. 29, 2018\n\n\n\nCompany Releases Financial Results and Business Update for its 2018 Fiscal First Quarter\n\n\n\nMONCTON, NB, Jan. 29, 2018 /CNW/ - Organigram Holdings Inc. (TSX VENTURE:OGI) (OTCQB:OGRMF) (the \"Company\" or \"Organigram\"), a leading licensed producer of medical marijuana, announces the financial results for the fiscal first quarter of 2018 ending November 30, 2017. A copy of the financial statements and the corresponding management discussion and analysis (MD&A) is available on the investors section of the Company's website (www.organigram.ca) and are also filed and available on SEDAR (www.sedar.com).\n\n\n \n \n\n \nFinancial Results*\n\nOrganigram's financial results for the quarter ending November 30, 2017 saw the Company report its highest quarterly net sales to date. Net sales rose to $2.7 million in Q1-2018 (up from $2.1 million in Q4-2017, and up from $2.2 million in Q1-2017). The Company reported a net loss and comprehensive loss of $1.4 million for Q1-2018 (compared to a net loss of $2 million in Q4-2017 and $0.8 million in Q1-2017). \n\nThe Company sold approximately 195,000 grams of dried flower in Q1-2018 (compared to approximately 187,000 in Q4-2017 and approximately 260,000 in Q1-2017 respectively).  \n\nThe Company saw significant growth in its sales of cannabis oil. Cannabis oil sales were approximately 419,000 ml in Q1-2018 (compared to approximately 178,000 ml and 77,000 ml in Q4-2017 and Q1-2017 respectively). The Company's growth in cannabis oil sales was fuelled by its Shubie Cannabis Oil 50ml bottle containing high CBD content.\n\nThe Company's registered patients increased to approximately 10,700 by the end of Q1-2018 up 169% from Q1-2017.\n\n\"What is clear is that through a dogged commitment to product quality and innovation, we have built and are sustaining tremendous momentum,\" sa...