Organigram gets Nasdaq share-price warning

MJ Biz report

The Nasdaq stock exchange has warned Canadian marijuana cultivator and manufacturer Organigram Holdings about its share price, which has fallen below Nasdaq’s $1 minimum bid price requirement for 30 days in a row.

Organigram has until July 24 to bring its share price into compliance, after which it could receive another 180-day extension before facing possible delisting.

The company’s Nasdaq-listed shares closed at 95 cents on Wednesday.

Organigram shares also trade as OGI on the Toronto Stock Exchange.

The New Brunswick-based company reported a profit of 5.3 million Canadian dollars ($4 million) for its most recent quarter.

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