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The Fireworks Show is on in OrganiGram Holdings Inc (OTCMKTS:OGRMF)

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The fireworks are back in the cannabis patch, with big moves afoot, including a massive recent breakout in shares of OrganiGram Holdings Inc (OTCMKTS:OGRMF). We have been exhaustively on record as big fans of the longer-term potential here. To add some clear color to the story, the company just announced its first quarter results for fiscal 2019. According to the release, the company’s fiscal first quarter encompasses operations up to and including November 30, 2018 and as a result, includes the impact on revenue of adult-use recreational cannabis for part of the quarter, which was legalized on October 17, 2018.

“The first quarter of 2019 is just the start of what we expect to be a year of tremendous growth,” said Greg Engel, the Company’s Chief Executive Officer. “We’ve always believed the Moncton Campus would be a competitive advantage for us being able to produce high-quality indoor-grown product at low cash cost of cultivation.  Our first quarter results confirmed that as we reported an adjusted gross margin of 71%.”

OrganiGram Holdings Inc (OTCMKTS:OGRMF) casts itself as a company that produces and sells medical marijuana to individuals and physicians in Canada. It offers marijuana plants, seeds, and cuttings; cannabis oil; and dried flower and cannabis.

The company sells its products through phone and online store. It also operates healing centers that offer treatments for post-traumatic stress disorders, chronic pain, and trauma therapy. In addition, the company exports its products.

OrganiGram Holdings Inc. was founded in 2013 and is based in Moncton, Canada.

Moreover, 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.

OGRMF’s facility is located in Moncton, New Brunswick and the Company is regulated by the Access to Cannabis for Medical Purposes Regulations.

According to company materials, “From the day we started back in 2013, it’s been about making lives better – for our clients, our people, and our community. We’re based in Moncton, New Brunswick, the heart of the Maritimes, but at OrganiGram Holdings we’re committed to improving the quality of life for Canadians across the country. For us, this means working with health-care providers and industry organizations, supporting research and education, and providing a safe, effective product. To be effective in that last goal, we made a decision to produce organic cannabis. Growing certified organic medical cannabis isn’t easy, in fact, most licensed producers won’t take this on. It means more care, more testing, more rules… but in the end, it means a product that we feel delivers on our goals in the best way. And improving the quality of life for Canadians is not just about getting safe, quality product to them effectively. It’s about creating jobs, being good neighbors and contributing to our community.”

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As noted above, OGRMF just announced its first quarter results for fiscal 2019, including record net sales from continuing operations for the three months ended November 30, 2018 (Q1’2019) of $12.4 million, up 419% from $2.4 million in Q1’2018, and up 287% from $3.2 million in Q4’2018.

In all, traders will note 62% tacked on to share pricing for the stock in the past month. In addition, the listing has seen interest climb, with an increase in recent trading volume of 87% beyond what we have been seeing over the larger time frame.

“While we continue to work hard to take advantage of our enviable inventory build to drive increased sales we are already well underway preparing for the derivative and edibles launch during the fall of 2019,” remarked Greg.

Now commanding a market cap of $722.03M, OGRMF has a significant war chest ($130.1M) of cash on the books, which stands against about $11.3M in total current liabilities. OGRMF is pulling in trailing 12-month revenues of $13.3M. In addition, the company is seeing major top-line growth, with y/y quarterly revenues growing at 49.7%. This is an exciting story, and we look forward to a follow-up chapter as events transpire. Sign-up for continuing coverage on shares of $OGRMF stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in $OGRMF, either long or short, and we have not been compensated for this article.

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