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OrganiGram Holdings (OGI) Q3 2021 Earnings Call Transcript Motley Fool Transcribing © The Motley Fool Logo of jester cap with thought bubble.
OrganiGram Holdings (NASDAQ: OGI)
Operator
Good morning. My name is Renz, and I ll be your operator today. At this time, I would like to welcome everyone to the OrganiGram Holdings Inc. s third-quarter fiscal 2021 earnings conference call. [Operator instructions] As a reminder, this conference call is being recorded, and a replay will be available on OrganiGram s website.
At this time, I would like to introduce Ms. Amy Schwalm, vice president, investor relations.
Amy Schwalm
Vice President-Investor Relations
Thank you, Renz. Joining me today are OrganiGram s chief financial officer, Derrick West; and our chief strategy officer, Paolo De Luca. Before we begin, I would like to remind you that today s call will include estimates and other forward-looking information from which our actual results could differ. Plea
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PALM BEACH, Fla., April 29, 2021 /PRNewswire/ The global pandemic was expected to negatively impact the global economy… and it did, but there were some markets that exceeded expectations… and grew during the crisis. Industry insider BDSA (formerly BDS Analytics) said in a recent report that: The cannabis industry faced numerous challenges in the past few years, none so potentially disruptive as the coronavirus pandemic in 2020, said Micah Tapman, Chief Executive Officer, BDSA. Our previous forecast was conservative based on the expected economic fallout from the pandemic, but the industry not only survived, it thrived and legal cannabis gained considerable ground, exceeding our expectations in several markets. The report projected that: Global cannabis sales reached nearly $21.3 billion in 2020, an increase of 48% over 2019 sales of $14.4 billion. BDSA forecasts global cannabis sales will grow from $21.3 billion in 2020 to $55.9 bi
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