Organigram Holdings Inc (TSE:OGI) (NASDAQ:OGI) CEO Greg Engel joins Midas Letter to discuss the company’s strong fundamentals as the cannabis sector is down over 50 percent. “We’ve had four quarters now consecutively with positive adjusted EBITDA, and we’re certainly seeing a shift to large institutional funds that are looking at more fundamentals” – Organigram Holdings Inc CEO Greg Engel
The CEO highlights the company’s strong gross margin and balance sheet while outlining their strategic commitment to growth in the edible and derivative-based product market. Organigram are one of four companies with a partnership with PAX; a leading consumer technology brand in the design and development of premium vaporizers for dry flower and concentrates. With concentrates due to become legal in Canada later this year. In terms of edibles, Organigram are focused on high-speed, high-capacity, fully-automated production line of chocolates having invested $15 million in Ganong Bros Limited. The investment has the ability to produce an estimated 4 million kilograms of chocolate cannabis edibles per year. Lastly, the company is focusing on a unique dried powder dissolvable beverage isolate stable for both CBD and THC. The dissolvable powder will allow consumers to add their favourite marijuana molecules to their beverage of choice.
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