Organigram Holdings Inc. (OGI), a medical cannabis provider, Tuesday reported net loss of $22.96 million for the first quarter, higher than $15.75 million loss in the same quarter a year ago, primarily impacted by higher fair value loss recognized related to top-up-rights of British American Tobacco (BAT).
Revenue for the quarter increased 17 percent to $42.73 million from $36.46 million in the same prior year period, mainly due to growth in recreational cannabis sales and international sales, as well as contributions from Motif sales.
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