Organigram launches Shred jar, SNAX chocolate bars

2021-03-02 07:31 ET - News Release

Mr. Greg Engel reports

ORGANIGRAM LAUNCHES SHRED TROPIC THUNDER JAR OF J'S (JAR OF JOINTS) AND TRAILBLAZER SNAX MILK CHOCOLATE BARS

As part of its consumer-first product innovation strategy, Organigram Holdings Inc. has launched two new additions to the company's recreational cannabis product portfolio: Shred Tropic Thunder jar of joints and Trailblazer SNAX milk chocolate bars.

"At Organigram, seeking out and acting upon consumer feedback is a core element of our product development program," said Greg Engel, chief executive officer, Organigram. "The addition of these new products to our lineup of positively reviewed and most-searched brands -- one offering the decadence of world-class chocolate and the other a launch of an exceptional value product from the brand that we believe has set a new standard in the premilled category -- are a direct response to the preferences our consumers have shared with us."

Shred Tropic Thunder jar of joints

Shred, Organigram's high-quality, high-potency, premilled and preshredded dried flower product has been the most searched cannabis brand on the Ontario Cannabis Store website for three consecutive months (November and December, 2020, and January, 2021).

Now, Shred's Tropic Thunder, a combination of strains with citrus and tropical aromas featuring THC (tetrahydrocannabinol) of 18 per cent or more, is available in a jar of joints, a convenient jar of 14 0.5-gram prerolls.

In addition, the prerolls are packed with a two-way humidity system to preserve their unique flavour profile and to help ensure a fresh and flavourful packed product. Each preroll also has a flush filter, optimizing airflow for a consistently smooth joint draw.

Organigram's investment in automation is further reflected in its latest preroll machine, which supports the production of a large volume of precision-packed prerolls. Currently, the equipment is producing approximately 25 to 30 prerolls per minute with the potential for continuing improvement. This machine reduces the company's reliance on manual labour for preroll production, contributing to operating efficiencies and will better support the production of multipack prerolls, which attract higher gross margins than singles and have started to comprise a greater proportion of the company's product portfolio aligned with consumer demand.

Trailblazer SNAX milk chocolate

Trailblazer SNAX is the only chocolate bar currently in market in which cannabis is infused into a rich, creamy cacao filling in the centre of the bar. This is enabled by a book-mould design, which is a hallmark of some of the world's premier chocolate producers. The milk flavour joins two other Trailblazer SNAX flavours: mocha and mint already in market.

The 42 g Trailblazer SNAX bar features 10 milligrams of THC, 90-per-cent-pure THC distillate and 38 per cent cocoa, offering consumers a bold and creamy milk chocolate experience.

Organigram's investment in state-of-the-art equipment and manufacturing processes means that each of the five sections of the Trailblazer SNAX bar is filled separately, allowing for higher accuracy of cannabinoid infusion per piece.

Both Shred Tropic Thunder jar of joints and Trailblazer SNAX milk chocolate bars are available at select retailers.

About Organigram Holdings Inc.

Organigram is a Nasdaq Global Select- and Toronto Stock Exchange-listed company, the wholly owned subsidiary of which, Organigram Inc., is a licensed producer of cannabis and cannabis-derived products in Canada.

Organigram is focused on producing high-quality, indoor-grown cannabis for patients and adult recreational consumers in Canada, as well as developing international business partnerships to extend the company's global footprint. Organigram has also developed a portfolio of legal adult-use recreational cannabis brands, including The Edison Cannabis Company, Shred and Trailblazer. Organigram's facility is located in Moncton, N.B., and the company is regulated by the Cannabis Act and the cannabis regulations (Canada).

We seek Safe Harbor.

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OrganiGram Holdings Inc. (NASDAQ: OGI)

 OrganiGram Holdings Inc. (NASDAQ: OGI) CEO Gregory Engel: “Expanding Profit Margins with Product Line Innovation and Automation”

“...We continue to see dried flower and pre-rolls as the two largest categories in the Canadian rec market. And based on US legal state data, we believe they will continue to dominate the foreseeable future even as alternative product forms gain traction.”

“We continue to leverage our indoor facility and our unique three-tiered cultivation rooms. Every Edison strain benefits from being grown in one of these data-backed strain-specific grow rooms with bespoke microclimates, designed to offer a distinct flavor and aroma profile and to ensure consistent quality. Variables such as humidity, temperature and light are customized to optimize the growth, cannabinoid and terpene profile of each strain….Opportunity to scale up new genetics require a patient and deliberate process where cultivation protocols are trialed for each cultivar and adjusted through multiple grow rooms before full roll out to multiple rooms in our facility.”

“In addition to revenue upside beyond fiscal Q2, we've identified a number of opportunities which have the potential to greatly enhance gross margins...A greater proportion of our portfolio is being dedicated to higher volume SKUs, such as multipack pre-rolls and 1g vape cartridges, which attract higher margins. We continue to invest in automation to drive cost efficiencies and reduce dependence on manual labor…”

OrganiGram (NASDAQ: OGI) Earnings Call Highlights: http://bit.ly/3cU4GEP

House Positions for C:OGI from 20210301 to 20210301

House	Bought	$Val	Ave	Sold	$Val	Ave	Net	$Net
79 CIBC	1,335,696	5,308,536	3.974	1,122,160	4,449,401	3.965	213,536	-859,135
1 Anonymous	795,499	3,163,536	3.977	762,885	3,024,168	3.964	32,614	-139,368
2 RBC	75,633	301,373	3.985	45,826	183,376	4.002	29,807	-117,997
85 Scotia	95,736	381,024	3.98	69,930	279,316	3.994	25,806	-101,708
80 National Bank	87,335	346,905	3.972	77,010	306,651	3.982	10,325	-40,254
57 Interactive	10,300	41,180	3.998	80	322	4.025	10,220	-40,858
124 Questrade	43,856	173,878	3.965	35,726	143,774	4.024	8,130	-30,104
19 Desjardins	21,000	83,756	3.988	15,485	61,826	3.993	5,515	-21,930
33 Canaccord	9,900	38,651	3.904	4,900	19,277	3.934	5,000	-19,374
56 Edward Jones	1,000	4,050	4.05	0			1,000	-4,050
36 Latimer	6,137	24,297	3.959	5,562	22,131	3.979	575	-2,166
89 Raymond James	500	1,995	3.99	0			500	-1,995
28 BBS	2	8	4.00	0			2	-8
143 Pershing	2,860	11,542	4.036	3,350	13,218	3.946	-490	1,676
13 Instinet	460	1,843	4.007	2,800	11,004	3.93	-2,340	9,161
212 Virtu	33,485	132,560	3.959	36,257	144,611	3.988	-2,772	12,051
88 Credential	31,585	125,614	3.977	42,450	171,043	4.029	-10,865	45,429
53 Morgan Stanley	71,266	282,730	3.967	96,034	381,860	3.976	-24,768	99,130
39 Merrill Lynch	79,700	314,297	3.944	115,000	456,807	3.972	-35,300	142,510
9 BMO Nesbitt	64,216	252,917	3.939	119,831	478,035	3.989	-55,615	225,118
7 TD Sec	640,223	2,545,949	3.977	723,014	2,883,294	3.988	-82,791	337,345
72 Credit Suisse	0			128,089	506,531	3.955	-128,089	506,531
TOTAL	3,406,389	13,536,641	3.974	3,406,389	13,536,645	3.974	0	4

SCR:TSX House Buys And Sells

 

House Positions for C:SCR from 20210301 to 20210301

House	Bought	$Val	Ave	Sold	$Val	Ave	Net	$Net
53 Morgan Stanley	28,544	1,022,862	35.835	8,739	314,635	36.004	19,805	-708,227
79 CIBC	67,209	2,426,401	36.102	54,423	1,961,327	36.039	12,786	-465,074
39 Merrill Lynch	14,900	540,595	36.282	6,800	242,639	35.682	8,100	-297,956
9 BMO Nesbitt	9,939	358,917	36.112	8,422	302,076	35.867	1,517	-56,841
74 GMP	1,500	53,775	35.85	0			1,500	-53,775
19 Desjardins	1,353	48,563	35.893	26	929	35.731	1,327	-47,634
212 Virtu	7,788	280,576	36.027	6,651	239,579	36.022	1,137	-40,997
33 Canaccord	4,849	173,459	35.772	4,026	144,352	35.855	823	-29,107
55 Velocity	336	12,072	35.929	0			336	-12,072
28 BBS	600	21,192	35.32	600	21,965	36.608	0	773
22 Fidelity	0			20	709	35.45	-20	709
13 Instinet	54	1,927	35.685	132	4,660	35.303	-78	2,733
57 Interactive	15	537	35.80	102	3,639	35.676	-87	3,102
80 National Bank	9,189	331,282	36.052	9,279	335,394	36.145	-90	4,112
65 Goldman	700	25,122	35.889	1,333	46,920	35.199	-633	21,798
88 Credential	1,986	70,820	35.66	2,867	102,965	35.914	-881	32,145
124 Questrade	7,610	275,685	36.227	8,729	317,526	36.376	-1,119	41,841
85 Scotia	6,692	240,993	36.012	8,314	303,461	36.50	-1,622	62,468
72 Credit Suisse	1,200	43,093	35.911	4,369	157,828	36.125	-3,169	114,735
2 RBC	5,949	213,743	35.929	14,816	535,058	36.114	-8,867	321,315
1 Anonymous	55,287	1,996,143	36.105	65,587	2,361,124	36.00	-10,300	364,981
7 TD Sec	42,986	1,541,757	35.866	63,451	2,282,730	35.976	-20,465	740,973
TOTAL	268,686	9,679,514	36.025	268,686	9,679,516	36.025	0	2

SCR Successfully Closes The IPO Gets US$186.3 million.

 Score Media and Gaming Inc. (“theScore” or the “Company”) (TSX: SCR; NASDAQ: SCR) today announced the closing of its previously-announced marketed public offering of the Company’s Class A Subordinate Voting Shares (“Class A Shares”) in the United States and Canada, representing the Score’s initial public offering in the United States and listing of the Class A Shares on the Nasdaq Global Select Market. A total of 6,900,000 Class A Shares were sold by the Company, including 900,000 Class A Shares following the exercise in full by the underwriters of their over-allotment option, at a price of US$27.00 per share, for gross proceeds to the Company of US$186.3 million.

The offering is being conducted through a syndicate of underwriters led by Morgan Stanley, Credit Suisse, Canaccord Genuity and Macquarie Capital, as joint book-running managers, with Eight Capital, Cormark Securities Inc. and Scotiabank as co-managers.

The Company currently expects that the net proceeds of the offering will be used to fund working capital and other general corporate purposes, including the continued growth and expansion of theScore Bet’s operations in the United States and Canada by supporting the multi-jurisdiction deployment and operation of theScore Bet and user acquisition and retention in jurisdictions where theScore is, or will be, operating.

No securities regulatory authority has either approved or disapproved the contents of this press release. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the Class A Shares in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.

About Score Media and Gaming Inc.
Score Media and Gaming Inc. empowers millions of sports fans through its digital media and sports betting products. Its media app ‘theScore’ is one of the most popular in North America, delivering fans highly personalized live scores, news, stats, and betting information from their favorite teams, leagues, and players. The Company’s sports betting app ‘theScore Bet’ delivers an immersive and holistic mobile sports betting experience and is currently available to place wagers in New Jersey, Colorado, Indiana and Iowa. Publicly traded on the Toronto Stock Exchange (TSX: SCR) and the Nasdaq Global Select Market (NASDAQ:SCR), theScore also creates and distributes innovative digital content through its web, social and esports platforms.

Forward-Looking Statements
Statements made in this news release that relate to future plans, events or performances are forward-looking statements. Any statement containing words such as “may”, “would”, “could”, “will”, “believes”, “plans”, “anticipates”, “estimates”, “expects” or “intends” and other similar statements which are not historical facts contained in this release are forward looking, and these statements involve risks and uncertainties and are based on current expectations. Such statements reflect theScore’s current views with respect to future events and are subject to certain risks, uncertainties and assumptions. Many factors could cause the Company’s actual results, performance or achievements to be materially different from any future results, performance or achievements that may be expressed or implied by such forward looking statements, including among other things, the enactment of enabling legislation and regulations in the jurisdictions in which the Company operates, or intends to operate, to facilitate online gaming, including (without limitation) the enactment of federal legislation in Canada to permit single event sports wagering (including the timing of such legislation and regulations being passed and proclaimed in force (if at all) and the terms and conditions imposed in such legislation and regulations on applicable industry participants), the Company’s receipt of all relevant licences and approvals under the applicable legislation and regulations (as applicable) of the jurisdictions in which the Company operates, or intends to operate, the rate of adoption of online gaming in Canada and other jurisdictions, as permitted by applicable legislation and/or regulations, and those factors which are discussed under the heading “Risk Factors” in the Company’s current Annual Information Form, dated October 28, 2020, as filed with applicable Canadian securities regulatory authorities and available on SEDAR under the Company’s profile at www.sedar.com and as filed with the U.S. Securities and Exchange Commission and available on EDGAR under the Company’s profile at www.sec.com, and elsewhere in documents that theScore files from time to time with such securities regulatory authorities, including its relevant Management’s Discussion & Analysis of the financial condition and results of operations of the Company. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results could differ materially from the expectations expressed in these forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements except as required by applicable law or regulatory requirements.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210301005690/en/

Contacts:

Investor Relations:

Alvin Lobo
Chief Financial Officer
Score Media and Gaming Inc.
Tel: 416-479-8812
Email: IR@thescore.com

Richard Land, James Leahy
JCIR
Tel: 212-835-8500
Email: scr@jcir.com

Media Relations:

Dan Sabreen
Director, Communications
Score Media and Gaming Inc.
Tel: 917-722-3888 ext. 706
Email: dan.sabreen@thescore.com

Source: Score Media and Gaming Inc.

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