Special Meeting to Approve
$124.6 Million Investment from BAT at $3.2203/share and Creation of "Jupiter" Strategic Investment Pool
TORONTO--(BUSINESS WIRE)--December 29, 2023--
Organigram Holdings Inc. (NASDAQ: OGI) (TSX: OGI), (the "Company" or "Organigram"), a leading licensed producer of cannabis, announced today that it has mailed and filed a management information circular (the "Circular") and related materials (the "Meeting Materials") for its annual and special meeting (the "Meeting") of the holders of its common shares (the "Shareholders") to be held on January 18, 2024. In addition to routine annual business to be conducted (including the election of directors and the appointment of an auditor), Shareholders at the Meeting will be asked to approve the previously announced proposed
C$124.6 million follow-on strategic equity investment in the Company (the "Investment") from BT DE Investments Inc. (the "Investor"), a wholly owned subsidiary of British American Tobacco plc ("BAT"). The Investment is to be completed in three tranches, each subject to the satisfaction of certain closing conditions, which include (among other things), clearance under the Competition Act (satisfied on November 23, 2023), applicable stock exchange approval (TSX conditional approval of the Investment received on December 19, 2023), and the requisite approval of the Shareholders at the Meeting.