We have gushed frequently enough over OrganiGram Holdings Inc (OTCMKTS:OGRMF) shares to solidify our track record there. For its part, the stock has done plenty to vindicate that perspective, consistently leading the cannabis space on the upside over the past few months, powering as much as 120% higher in that time, and banging once again on new all-time highs. To further flesh out the story, the company just announced the recent appointment of strategy and operations consultant James Cavanagh as the Company’s Chief of Staff.
According to the release, “Mr. Cavanagh is an experienced professional who has worked with Canadian and global clients across a variety of industries to drive top and bottom-line growth as well as organizational and operational improvements. Previously with PwC, he has overseen the design and implementation plan of global manufacturing, corporate, and sales processes designed to strategically enhance performance and revenue. Mr. Cavanagh has also facilitated digital strategy development and implementation, introducing new technology platforms in order to improve critical business processes and help achieve cost reduction.”
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 the recent appointment of strategy and operations consultant James Cavanagh as the Company’s Chief of Staff.
We’ve witnessed 7% tacked on to share pricing for the name in the past month. Furthermore, the stock has seen interest climb, with an increase in recent trading volume of 6% over the long run average.
“One of the biggest challenges facing Organigram at this point in the Company’s evolution is consistently applying discipline and processes to how we grow,” says Greg Engel, CEO of Organigram. “James is the ideal candidate to bring this unique skill set to our executive team.”
Earning a current market cap value of $1.08B, OGRMF has a significant war chest ($95.9M) of cash on the books, which must be weighed relative to about $15.8M in total current liabilities. One should also note that debt has been growing over recent quarters. OGRMF is pulling in trailing 12-month revenues of $23.1M. In addition, the company is seeing major top-line growth, with y/y quarterly revenues growing at 363%. We will update the story again soon as developments 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.