Newspaper article The Canadian Press

Organigram's Q1 Net Revenue Gets Boost from Recreational Pot Sales

Newspaper article The Canadian Press

Organigram's Q1 Net Revenue Gets Boost from Recreational Pot Sales

Article excerpt

Organigram Q1 earnings get legalization lift

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MONCTON, N.B. - Licensed cannabis producer Organigram Holdings Inc. says net revenue in its latest quarter hit $12.4 million, up from $2.4 million from a year earlier, due to the launch of recreational pot sales in October.

Organigram says its sales during the three-month period ended Nov. 30 marked a record quarterly high and amounted to more than what the company has historically sold to medical patients in an entire year.

The Moncton-based company also reported that during what was its financial first quarter it sold 1.7 million grams of dried flower, up from 195,075 grams during the same period a year earlier.

The company's latest earnings comes after Statistics Canada reported cannabis retail sales across the country in November totalled $54 million, up from $43. …

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