TSX:OGI - Toronto Stock Exchange - CA68620P7056 - Common Stock - Currency: CAD
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Organigram Holdings Inc. (NASDAQ: OGI) (TSX: OGI) has announced the acquisition of 100% of Motif Labs Ltd. for CA$90 million ($64 million), comprising of CA$50 million in cash and CA$40 million in Organigram common shares, based on a 30-day trading VWAP of $2.321 on the TSX. An additional CA$10 million contingent consideration is payable in shares, conditional on achieving a share price above $3.2203 within 12 months. The deal is financed through Organigram's cash reserves.
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Cannabis producer Organigram Holdings Inc. (NASDAQ: OGI) (TSX: OGI) has closed the second of three tranches of the previously announced CA$124,559,674 ($92.3 million) follow-on strategic equity investment by BT DE Investments Inc., a wholly owned subsidiary of British American Tobacco plc, (NYSE: BTI) on Tuesday. Under the second tranche closing, the investor acquired Organigram's 4,429,740 common shares and 8,463,435 Class A preferred shares at CA$3.2203 per share, for gross proceeds of $30.8 million. The company said on Tuesday that 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.
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