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The Daily Hit: April 6, 2021

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This is your Daily Hit of cannabis financial news for April 6, 2021.

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Organigram

Organigram Holdings Inc. (NASDAQ: OGI) has acquired The Edibles & Infusions Corporation in a deal valued at $35 million consisting of $22.0 million, plus up to an additional $13.0 million in shares (payable upon the EIC business achieving certain earnout milestones. Organigram said that the EIC Acquisition will expand its product offerings and provide an operational footprint in Western Canada.

Slang

Slang Worldwide Inc. (OTCQB: SLGWF) delivered preliminary, unaudited, selected financial results for the full year and three months ended December 31, 2020. The fourth-quarter revenue was $9.6 million, which grew sequentially from the third-quarter revenue of $7.9 million and topped last year’s revenue of $8.7 million for the same time period. For the full year of 2020 Slang said its revenue would be $26,819,576, which is a decline from 2019’s revenue of $29.2 million. The adjusted EBITDA loss is said to be in the range of ($900,000) to ($1,400,000), which would be lower than 2019’s loss of $6.5 million for the year. All figures are stated in Canadian dollars.

Fyllo

Source: https://cannabislaw.report/the-daily-hit-april-6-2021/

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