Organigram Holdings Inc. (TSXV: OGI) (OTCQB: OGRMF) a leading licensed producer of medical marijuana, is announcing the financial results for the fiscal first quarter of 2018 ending November 30, 2017.
Organigram’s net sales rose to CAD 2.7 million in Q1-2018 and are the highest sales to date. The Company reported a net loss and of CAD 1.4 million for Q1-2018
The Company sold 195,000 grams of dried flower in Q1-2018 compared to 260,000 in Q1-2017.
The drop in dried flower sales is balanced by significant growth in its sales of cannabis oil. Cannabis oil sales were approximately 419,000 ml in Q1-2018 compared to 77,000 ml in Q1-2017. The cannabis oil sales increase is primarily attributable to its Shubie Cannabis Oil 50ml bottle containing high CBD content.
Registered patients increased to approximately 10,700 by the end of Q1-2018 up 169 percent from Q1-2017.
“What is clear is that through a dogged commitment to product