Achieves #2 Market Share Over the Last Two
Months
Organigram Holdings Inc. (NASDAQ: OGI) (TSX: OGI), (the
“Company” or “Organigram”), a leading licensed producer of
cannabis, is pleased to provide a corporate update.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20231018363608/en/
(Photo: Business Wire)
Market Share Momentum
Market share continues to be an important indicator of success
for licensed producers (“LPs”) in Canada as sell through to
consumers is a strong predictor of long-term sustainable revenue.
Organigram is pleased to announce that it has moved into the #2
market share position in the last two months driven in large part
by the success of its growing pre-roll business.1 Market share
strength has also been buoyed with strength in gummies, hash, and
flower.
Category Leadership Supported by Recent Product Innovations
& Launches
Organigram is pleased to announce that is has achieved a
category leadership position in two growing categories: hash and
gummies. The Company achieved the #1 market share position in hash
globally as of November 2022 driven by innovative product launches
on Tremblant, Holy Mountain and SHRED, including yet another first
to market innovation, the ultra-convenient and flavourful
Rip-Strips. Organigram has also secured the #1 market share
position in gummies for the last two months, August and September.
This impressive growth is driven by the Company’s continued success
in launching new flavours and cannabinoid ratios, including THCV,
under its popular SHRED’ems and Monjour gummy brands.
“Organigram is committed to maintaining its focus on being a
consumer-centric and disciplined cannabis company. The success we
are experiencing in these categories is a testament to our approach
to investing, by making strategically sound acquisitions that are
complementary to our core flower business, enabling us to
capitalize on the new, growing segments in Canadian cannabis and
focusing our efforts on winning in that segment,” said Beena
Goldenberg, CEO of Organigram.
Exciting New Product Launches
Organigram continues its commitment to bringing high-quality
cannabis products to the market that meet the evolving needs of our
various consumer segments, from the price-conscious, experienced
user, to the more wellness-oriented individual looking to fulfill
targeted needs through cannabis.
Category
Brand
Name
Format
Description
1
Milled Flower
SHRED
All Dressed
7g
An aromatic mix of three best-selling
blends: Tropic Thunder, Gnarberry & Funkmaster.
2
Milled Flower
SHRED
Rainbow Oz.
4 x 7g
Four colourful 7g pouches of SHRED's
best-selling blends: Tropic Thunder, Gnarberry, Funk Master &
Dessert Storm.
3
Pre-Rolls
SHRED
Dartz
10 x 0.4g
Available in SHRED's three best-selling
flavour blends: Tropic Thunder, Gnarberry, Funk Master. These
tube-style pre-rolls are rolled with 100% organic hemp paper and
feature colour-matched packaging and branded filters for each
unique blend.
4
Pre-Rolls
Trailblazer
Dank Dreams
1 x 0.5g
True to its name, Dank Dreams Trailblazer
pre-rolls hit with an unmistakeable mix of potency, dreaminess, and
dankness. This half-gram cone is indica dominant and full of
earthy, kush and dank aromas, with a high 22-28% THC range.
5
Infused Pre-Rolls
SHRED X
Blueberry Blaster Heavies
3 x 0.5 g
These 40%+ THC infused pre-rolls deliver
an aromatic and smooth blueberry and kush experience thanks to a
perfect terp, diamond and distillate infusion.
6
Gummies
SHRED'ems POP!
Orangezilla Float
4 gummy pack
40 mg CBD: 10 mg THC per pack: These
sativa gummies are sure to please with an unmistakeable orange pop
and vanilla flavour profile.
7
Gummies
Trailblazer
Zen Garden Grapefruit
4 gummy pack
20 mg THCV: 10 mg THC per pack: These
sugar-free gummies are perfectly blended with a delicate and
uplifting grapefruit flavour.
8
Gummies
Monjour
Quiet Chamomile
50 gummy jar
Each gummy features 25mg of CBD and 5mg of
CBN. This large format, high potency, sugar-free gummy pack is a
delicious blend of soothing chamomile and peaceful pomegranate.
9
Dried Flower
Holy Mountain
Serial Jealousy
3.5g & 28g
Building off success of "Jealousy" -
Leafly's 2022 "strain of the year" - is a unique flower offering
with rare seeds from the sought-after grower Tiki Madman. Indica
dominant coming in at 23-29% THC.
10
Dried Flower
Holy Mountain
Purple Punch- Out!!
3.5g & 28g
Purple PunchOut oins the legendary Holy
Mountain line-up and is packed with sweet grape and berry aromas.
These mesmerizing buds are light green, flecked with orange pistils
and are made up of dominant terps b-Carophyllene, limonene and
humulene coming in at 24-30% THC.
11
Dried Flower
Holy Mountain
Ultra-Jean G
3.5g & 28g
Ultra Jean-G is a sativa-dominant cross
between Ultra Sour x Lemon Margy #286. The result is a high-octane
bouquet of gassy, lemony and herbal aromas with a pine-finish. When
combined these two heavy hitters yield a high THC range of
23-29%.
Product Development Collaboration with BAT
Organigram and BAT continue to work together through their
Product Development Collaboration (“PDC”) on new workstreams to
develop innovative technologies in the edible, vape and beverage
categories in addition to new disruptive inhalation formats aimed
at addressing the biggest consumer pain points that exist in the
category today.
Organigram is preparing to deliver new products in these spaces
and the immediate launch priority includes gummies which will
feature a new nano-emulsion technology, scheduled to begin
commercialization in the first half of 2024.
Investment and Collaboration with U.S. Based Phylos
Biosciences
Monetizing the investment in Phylos Bioscience continues to be a
key focus as Organigram moves towards seed-based production in its
Moncton facility. Three seed trials have already been harvested
with two more nearing completion. Overall, eight F1 Hybrid
cultivars are being tested with the first production scale trial
room load scheduled in November 2023 and first full-scale
commercial harvest planned for March 2024. Organigram is on track
to convert up to 30% of harvests to seed based production by end of
2024 with Phylos investment milestones tracking towards early
completion.
Moncton Facility Updates
The Company is pleased to have been designated an Energy
Champion by New Brunswick Power as a result of the reduction in its
environmental footprint through the conversion of 17,000 LED
fixtures. With this change, Organigram’s energy footprint per room
was reduced by 30%. The Company also continues to reduce its energy
usage through a partnership with NB Power in the New Brunswick
Strategic Energy Management Program.
Finally, Organigram commissioned its high-speed pre-roll
tube-style machine in June, enabling the Company to enter the
growing tube-style pre-roll joint segment with its popular SHRED
and Holy Mountain brands. This investment in automated pre-roll
technology has helped Organigram secure the #2 position in the
category.
Lac Superiéur Facility Update
Construction at Organigram’s Lac Superiéur craft cultivation
facility is now complete with the addition of four new grow rooms
and an expanded packaging area. With power at the facility,
equipment commissioned, and all growing, harvesting, and drying
rooms being completed, Organigram is now in a position to begin
growing top shelf craft quality, small batch flower out of its
signature craft facility. Clones are now onsite, and Organigram
expects to see the first harvest out of that facility by early
December.
Organigram has also finished the implementation of its new ERP
system at Lac Superiéur, which is expected to provide the most up
to date, accurate and timely data needed to deliver actionable
business insights.
Change in Fiscal Year
As previously disclosed, Organigram has recently changed its
fiscal year end to better reflect its operating and financial
cycles. Organigram’s new fiscal year began on October 1, 2023, and
will end on September 30, 2024. As a result, fiscal year 2023 will
have 13 months and reflect the period starting September 1, 2022,
and ending September 30, 2023. The Company will announce its
full-year fiscal 2023 earnings in December 2023.
About Organigram Holdings Inc. Organigram Holdings Inc.
is a NASDAQ Global Select Market and TSX listed company whose
wholly owned subsidiaries include Organigram Inc. a licensed
producer of cannabis, cannabis-derived products and 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,
Holy Mountain, 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 to market conditions, consumer preferences and regulatory
climate 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.
1. Source: Adjusted market model as of Oct 4th, 2023, based on
HiFyre, Weedcrawler (QC), Board Data (NS/NB)
View source
version on businesswire.com: https://www.businesswire.com/news/home/20231018363608/en/
For Investor Relations enquiries: Max Schwartz
Director of Investor Relations investors@organigram.ca
Organigram
For Media enquiries: Megan McCrae Senior Vice
President of Marketing and Communications
megan.mccrae@organigram.ca Organigram
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