Organigram Closes Second Tranche of Previously Announced BAT Private Placement Investment

TORONTO -- Organigram Holdings Inc. (NASDAQ: OGI) (TSX: OGI), (the “Company” or “Organigram”), a leading licensed producer of cannabis, announced today that on August 30, 2024, the Company closed the second of three tranches (the “Second Tranche”) of the previously announced C$124,559,674 follow-on strategic equity investment (the “Investment”) by BT DE Investments Inc. (the “Investor”), a wholly owned subsidiary of British American Tobacco plc (“BAT”). Pursuant to the Second Tranche closing, the Investor acquired 4,429,740 common shares (the “Common Shares”) and 8,463,435 Class A preferred shares (the “Preferred Shares” and together with the Common Shares, the “Shares”) of the Company at a price of C$3.2203 per share (the “Per Share Price”) for gross proceeds of USD$30,821,684.69 (equal to C$41,519,891)¹. The remaining 12,893,175 Shares subscribed for are due to be issued at the Per Share Price in the final tranche on or around February 28, 2025 (the “Third Tranche”). Read More