OrganiGram Reports FY16 Sales of $6.1mm

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OrganiGram Reports Financial Results and Summary Update

MONCTON, NEW BRUNSWICK–(Marketwired – Dec. 13, 2016) – OrganiGram Holdings Inc. (TSXV: OGI) (OTC: OGRMF) (the “Company”) announced the financial results for the fourth quarter and fiscal year ending August 31, 2016. A copy of the financial statements and the corresponding management discussion and analysis are available on the investors section of the Company’s website ( and are also filed and available on SEDAR (

The emerging cannabis industry is developing at a rapid pace and OrganiGram as a Company is evolving and preparing for what we believe is one of the most exciting commercial events in the history of the capital markets.

denis arsenaultDenis Arsenault, CEO of OrganiGram

While we are happy to have our first year of positive operating cash flow under our belt, this is just the beginning and we have never been more optimistic about our future. Our facility expansion is well underway, our branding initiatives are developing nicely, and we have been fortunate enough to establish partnerships with some of the strongest platforms in the space.

Some selected highlights from the fiscal year ended August 31, 2016 include:


Since August 31, 2016, several projects have been completed and new initiatives undertaken as the Company continues to scale its business to capture continued growth in the medicinal market, and ultimately, for favorable positioning in the emerging recreational cannabis market. Some of the key developments subsequent to the quarter and fiscal year end include:

September 1, 2016 – OrganiGram entered an exclusive product development and distribution agreement with TGS International, LLC (“TGS International”). The agreement provides for consulting services related to the development and operation of a commercial scale cannabis extracts production and processing facility, as well as the exclusive licensing in Canada of over 225 unique cannabis products. TGS International is an affiliate of The Green Solution, LLC (“TGS”), a vertically-integrated cannabis company which owns and operates over 300,000 square feet of state licensed and regulated production, processing, and manufacturing facilities as well as 13 medicinal and/or adult-use retail locations in the state of Colorado and 2 medicinal facilities in Illinois. For more information about the TGS Group, visit or

September 22, 2016 – The Company announced it had successfully amended its Health Canada licensed sales capacity of dried marijuana to 1,200kg per annum and increased licensed production and sales capacity for cannabis oils to 500kg per annum.

October 11, 2016 – The Company closed the acquisition of the 136,000 square foot building and 10 acre industrial property adjacent the existing OrganiGram facility. The company also announced a series of significant expansion initiatives on both the existing and newly acquired properties. Once completed, the pro-forma production capacity is expected to be approximately 26,000 kg per year. This expansion also includes a state of the art 15,000 square foot commercial scale oils and extracts manufacturing facility that is engineered and designed in collaboration with OrganiGram’s partners in Colorado, TGS International LLC.

November 16, 2016 – The Company provided a balance sheet and operating update which highlighted operating select operating metrics including:

  • Over $1.0 million in net sales for the month of October
  • Repayment of $1.0 million of 9.0% subordinated debt
  • Conversion of $2.9 million of 6.75% convertible debentures into common shares

November 23, 2016 – The Company announced that it had been chosen as the exclusive Canadian cannabis producer, business partner and brand developer for Nova Scotia-based Trailer Park Boys (“TPB”). OrganiGram will work with the team at TPB Productions Ltd. to develop branding, packaging, and a competitive product portfolio targeted towards recreational marijuana consumers and distributed exclusively by OrganiGram. The agreement, which has an initial term of five years, includes a combination of cash royalties and other non-monetary consideration.

December 7, 2016 – The Company closed its previously announced short form prospectus offering, on a bought deal basis, including the full exercise of the over-allotment option, for aggregate gross proceeds of $40,253,450. With the completion of this financing, cash and short-term investments as of December 8, 2016 equated to approximately $62.4 million.

* These measures are non-GAAP financial measures that do not have any standardized meaning prescribed by IFRS and may not be comparable to similar measures presented by other companies. These non-GAAP financial measures are explained in the Management’s Discussion & Analysis under Adjusted Gross Margin, Adjusted EBITDA, and Cash Flow from Operations, a copy of which has been filed today on

For more information, visit

About OrganiGram Holdings Inc.

OrganiGram Holdings Inc. is a TSX Venture Exchange listed company whose wholly owned subsidiary, OrganiGram Inc., is a licensed producer of medical marijuana in Canada. OrganiGram is focused on producing the highest quality, condition specific medical marijuana for patients in Canada. OrganiGram’s facility is located in Moncton, New Brunswick and the Company is regulated by the Access to Cannabis for Medical Purposes Regulations (“ACMPR”).

Original press release:

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Published by NCV Newswire
NCV Newswire
The NCV Newswire by New Cannabis Ventures aims to curate high quality content and information about leading cannabis companies to help our readers filter out the noise and to stay on top of the most important cannabis business news. The NCV Newswire is hand-curated by an editor and not automated in anyway. Have a confidential news tip? Get in touch.

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