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.