Aug. 25, 2021, 6:53 a.m. EDT

Organigram launches new 'SHRED'ems' lineup of cannabis-infused gummies

Organigram Holdings Inc. (NAS:OGI) announced Wednesday the launch of its "SHRED'ems" lineup of "high-quality and bold" cannabis-infused gummies. The parent of Canada-based cannabis producer Organigram Inc., said "SHRED'ems" adds to its value-priced "SHRED" portfolio. The company said the vegan-friendly "SHRED'ems" will be available in three flavors, Wild Berry Blaze (Hybrid), Sour Cherry Punch (Indica) and Sour Megamelon (Sativa). The company said gummies currently represent 74% of the edibles category. "The launch of SHRED'ems is a significant milestone for Organigram," said Chief Revenue Officer Tim Emberg. "As a company, we remain dedicated to developing industry-leading products that meet consumer needs, and the launch of SHRED'ems is the first of many new innovations we anticipate coming from our strategic acquisition of EIC." Organigram's stock, which shed 4.9% in premarket trading, has run up 99.3% year to date through Monday, while the Cannabis ETF (PSE:THCX) has gained 17.8% and the S&P 500 (S&P:SPX) has advanced 19.4%.

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