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• • • • • • Organigram Reports Third Quarter Fiscal 2021 Results Grew gross revenue 51 % sequentially to $ 29.1 million in Q3 2021 from Q2 2021 and 31 % from the same prior year period Grew net revenue 39 % sequentially to $ 20.3 million in Q3 2021 from Q2 2021 and 13 % from the same prior year period Grew adult - use recreational net revenue 40 % sequentially to $ 16.8 million in Q3 2021 from Q2 2021 and 10 % from the same prior year period Launched 84 new stock - keeping units ( SKUs ) since July 2020 as part of the Company's product portfolio revitalization including two new high potency strains under the higher margin Edison brand in Q3 2021 ; up to 20 more new SKUs expected before the end of Q4 2021 SHRED has remained the # 1 most - searched brand on the Ontario Cannabis Store website for eight consecutive months¹ Announced Product Development Collaboration ( “ PDC ” ) agreement with BAT and a strategic investment of $ 221 million from BAT for 19.9 % equity interest in Organigram Successfully launched the Centre of Excellence ( " CoE " ) at the Company's licensed Moncton facility to focus on developing the next generation of derivative cannabis products per the PDC agreement Acquired The Edibles and Infusions Corporation , a Winnipeg - based licensed manufacturer of cannabis - infused soft chews and candy ; first soft chew products currently expected to be available in certain retail stores in early August Repaid all balances under the credit facility agreement for annual interest savings of $ 2.7 million² Expect sequentially higher revenue and improved adjusted gross margins in Q4 2021 ( from Q3 2021 ) Decision made to complete Phase 4C at the Company's Moncton facility for increased production capacity to meet long - term forecasted demand and to also implement design improvements at the Moncton Campus that should result in higher quality flower and reduced production costs MONCTON , New Brunswick -- ( BUSINESS WIRE ) -- July 13 , 2021 -- Organigram Holdings Inc. ( NASDAQ : OGI ) ( TSX : OGI ) , the parent company of Organigram Inc. ( together , the " Company " or " Organigram ” ) , a leading licensed producer of cannabis , announced its results for the third quarter ended May 31 , 2021 ( “ Q3 2021 ” ) . “ We are pleased with the growth in revenue in Q3 as we were better staffed to fulfill the demand for our revitalized product portfolio , which continues to resonate well with consumers , " said Paolo De Luca , Chief Strategy Officer . “ The ongoing investment in our genetics and cultivation program has yielded some exciting new dried flower products with more genetics and derivative product launches planned for the near term . Sales are trending higher to date in Q4 supported by a strong outlook for the industry as the number of cannabis retail stores continues to grow and existing stores are permitted to re - open their doors to customers . "