Organigram Posts Sales Increase Through Its Fiscal Third Quarter, Unveils Water-Soluble Cannabis Powder
July 16, 2019Moncton, New Brunswick-based Organigram saw sales leap to C$64 million ($49m) in the nine months through its fiscal third quarter ended May 31, compared to C$9 million ($7m) in the year-earlier period. Net income reached nearly C$13 million ($10m), rising from C$4 million ($3.1m) a year earlier. Organigram produces the Trailblazer, Ankr Organics, and Edison Cannabis Co. brands.
Meanwhile, Organigram has developed a water-soluble cannabis powder that it says can be dissolved into any drink. Billed as an advance from Organigram’s proprietary nano-emulsion technology that creates cannabinoid micro-droplets, the tasteless powder delivers THC or CBD more quickly than traditional fat-soluble cannabinoids, the company says. It notes that consumers should feel effects in 10 to 15 minutes. Organigram plans to launch the powders early next year and is seeking a beverage industry partner to launch pre-mixed cannabis drinks.—Danny Sullivan
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