Organigram Posts Best-Ever Gross Quarterly Profit
The company says it brought in $13 million by growing larger, more efficient, and producing less expensive harvests.
The company says it brought in $13 million by growing larger, more efficient, and producing less expensive harvests.
The Supreme Court of Nova Scotia has approved a $2.31 million settlement in a class action lawsuit against Organigram Holdings Inc. over tainted cannabis.
The class-action stems from two major product recalls Organigram issued in 2016 and 2017, after trace amounts of the pesticides were found in its products.
First-quarter fiscal results released on Tuesday morning indicate theĀ $30.4 million in net revenue is a company best, up 57 percent from the same period last year.
The Moncton cannabis company has acquired Quebec-based Laurentian Organic Inc. to grow its presence in the increasingly important hash market.
Beena Goldenberg will replace Greg Engel, who stepped away from the role in May.
Increases in adult recreational use and wholesale revenue led to a strong rebound, according to Chief Financial Officer Derrick West.
Cannabis producer Organigram will host a one-day career fair at its Moncton facility on June 5 to fill more than 75 jobs in a variety of sectors.
Greg Engel has stepped down from his role effective immediately according to a release from the companyās Board of Directors.
The acquisition of The Edibles & Infusions Corporation will broaden Organigramās edible product offerings and provides an operational footprint in Western Canada.