Organigram Holdings Inc. (NASDAQ: OGI), the parent of cannabis producer Organigram Inc. has offed an update regarding its market share momentum, derivative products, and commencement of shipments.
Organigram growing its market share
The company believes market share is a significant success indicator for license producers since selling through end consumes is a sign of viable long-term revenue. Organigram continues its exceptional market share growth in Canada up to 7.7% at the beginning of this year.
CEO of Organigram Beena Goldenberg said, “Our industry-leading market share growth really highlights the continued momentum that Organigram is experiencing in the market. The strong demand for our products speaks to the fact that consumers are responding favourably to the great brands, products, and innovations that we continue to deliver on a regular basis.”
Organigram acquired the Edible and Infusion Corporation
In April 2021, Organigram bought The Edibles and Infusions Corporation to expand its product portfolio and production footprint in Western Canada. Notably, then EIC purpose-built automated facility is an important acquisition ensuring the company is at the forefront of cannabis products development. Within four months of closing the acquisition, the company has created, manufactured, and shipped three soft chew SKUs under the SHRED’ems brand and shipped four more SKUs in November.
Goldenberg commented, “The speed at which the integration of EIC took place, and the impressive market results of the inaugural launches out of EIC demonstrates how rapidly accretive this acquisition was to Organigram.”
In Q4 2021, the company launched Edison JOLTS lozenges, the first product to market, meeting the needs of those searching for a convenient format. Additionally, Organigram announced that after the award of export and import permits is has recommenced shipping to Canndoc in fiscal Q1 2022. The most recent shipment included the company’s latest genetic offerings.
Organigram is delighted to announce that Canndoc patients in Israel can now access its popular cultivars. The company also entered a supply agreement with Yukon Liquor Corporation and will commence shipments soon. Currently, the company’s products are available in 10 provinces.