Canadian cannabis producer Organigram Holdings is eying international investment opportunities with its new war chest of capital, and the company will focus those efforts largely on the U.S. market, CEO Beena Goldenberg says.
Organigram reported a net loss of 15.8 million Canadian dollars ($11.7 million) in its first fiscal quarter of 2024 and cannabis sales that were slightly below analysts’ expectations.
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The company’s revenue was CA$36.5 million in the October-December quarter, while analysts had been looking for sales of roughly CA$37.8 million.
Organigram attributed the higher net loss primarily to impairment charges and lower flower revenue.
In a conference call with analysts, Goldenberg said the company’s so-called Jupiter fund will target investments in emerging cannabis opportunities, bankrolled by a CA$124.6 million investment from
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