Organigram Holdings Inc. Provides Corporate Updates
June 23 2020 - 6:00AM
Business Wire
Organigram Holdings Inc. (“Organigram” or the
“Corporation”) (TSX: OGI) (NASDAQ: OGI) announces a number
of corporate updates.
At-the-Market Program Completion
Earlier this month the Corporation completed its at-the-market
equity program previously announced on April 22, 2020, issuing an
aggregate of 21,080,229 common shares for gross proceeds of
approximately CAD$49 million.
Legal Action
A legal action has been commenced in the Court of Queen’s Bench
in Alberta, which action seeks damages against many of the largest
Canadian cannabis companies (including Organigram). The action is
not certified, and does not particularize the claims against
Organigram or the other companies. Organigram does not comment on
uncertain information as a matter of policy, but is making this
statement due to the questions in the market that may result from
this action. The Corporation will continue to monitor this matter
as it may develop.
Trailer Park Buds Rebrand
After reviewing perception around our Trailer Park Buds brand
with Health Canada, the Corporation is making some changes to its
newly launched brand and logo. In the immediate term, Organigram
will move to a modified version of the logo. Longer term, the
Corporation is exploring options for a permanent logo and brand
name combination for its large format value brand. The Corporation
will continue to have this large format value offering in market
throughout.
About Organigram Holdings Inc.:
Organigram Holdings Inc. is a NASDAQ and TSX listed company
whose wholly owned subsidiary, Organigram Inc., is a licensed
producer of cannabis and cannabis-derived products in Canada.
Organigram is focused on producing high-quality, indoor-grown
cannabis for patients and adult recreational consumers in Canada,
as well as developing international business partnerships to extend
the Corporation 's global footprint. Organigram has also developed
a portfolio of legal adult use recreational cannabis brands
including The Edison Cannabis Company, Ankr Organics and
Trailblazer. Organigram's primary facility is located in Moncton,
New Brunswick and the Corporation is regulated by the Cannabis Act
and the Cannabis Regulations (Canada).
Forward-looking Information
This news release contains “forward-looking information” and
“forward-looking statements” within the meaning of applicable
securities legislation (collectively, “forward-looking
information”). Often, but not always, forward-looking information
can be identified by the use of words such as “plans”, “expects”,
“estimates”, “intends”, “anticipates”, “believes” and the negative
of these terms, and other similar terminology or expressions have
been used to identify the forward-looking information.
Forward-looking information involves known and unknown risks,
uncertainties and other factors that could cause actual events,
results, performance, prospects and opportunities to differ
materially from those expressed or implied by such forward-looking
information. Although the Corporation believes that the assumptions
and factors used in preparing the forward-looking information in
this news release are reasonable, undue reliance should not be
placed on such information and no assurance can be given that such
events will occur. For additional information with respect to
certain of these assumptions, risks or factors, and risk factors
relating to the Common Shares, reference should be made the
Corporation’s annual information form for the year ended August 31,
2019 and material change reports filed with the Canadian Securities
Administrators available at www.sedar.com, or the Corporation’s
annual report on Form 40-F and its reports on Form 6-K filed with
the SEC and available at www.sec.gov, and such other continuous
disclosure materials as may be filed from time to time by the
Corporation with Canadian securities regulatory authorities and the
SEC. The forward-looking information included in this news release
is provided as of the date of this news release and the Corporation
disclaims any intention or obligation, except to the extent
required by law, to update or revise any forward-looking
information, whether as a result of new information, future events
or otherwise. We seek safe harbor.
For more information about Organigram please visit
www.Organigram.ca.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20200623005267/en/
Investor Relations Enquiries: Amy Schwalm Vice President,
Investor Relations (416) 704-9057 Amy.Schwalm@organigram.ca
Media Enquiries: Ray Gracewood Senior Vice President,
Marketing and Communications (506) 645-1653
ray.gracewood@organigram.ca
Organigram (NASDAQ:OGI)
Historical Stock Chart
From Mar 2024 to Apr 2024
Organigram (NASDAQ:OGI)
Historical Stock Chart
From Apr 2023 to Apr 2024