Organigram Holdings Inc. announced a $221 Million strategic investment from a wholly-owned subsidiary of British American Tobacco

Goodmans LLP acted as primary legal advisor to Organigram Holdings Inc. in connection with its $221 million strategic investment from a wholly-owned subsidiary of British American Tobacco ("BAT").

The BAT Subsidiary has agreed to purchase approximately 58.3 million common shares of OGI, representing a 19.9% equity interest for total proceeds of approximately $221 million at a price per share of $3.792, based on a five-day volume weighted average price on the TXS ending March 9, 2021.

Organigram Inc., a leading licensed cannabis producer and a subsidiary of Organigram Holdings Inc. (together, “Organigram” or “the Company”), and BAT have also entered into a Product Development Collaboration Agreement (the “PDC Agreement”) pursuant to which a “Center of Excellence” will be established to focus on developing the next generation of cannabis products with an initial focus on CBD.

Organigram Holdings Inc. is a NASDAQ Global Select and TSX listed company whose wholly owned subsidiary, Organigram Inc., is a licensed producer of cannabis and cannabis-derived products in Canada.