Organigram Holdings Inc. announced that its Board has approved the consolidation of the Company’s issued and outstanding common shares at a consolidation ratio of four (4) pre-consolidation common shares for every post-consolidation common share (the “Share Consolidation”). The Share Consolidation is being implemented to ensure the Company continues to comply with Nasdaq listing requirements, reduce volatility and to enhance the marketability of the common shares to institutional investors.
The Share Consolidation is subject to approval by the Toronto Stock Exchange and the Nasdaq Global Select Market and is expected to become effective on July 5, 2023 with the post-Share Consolidation common shares commencing trading on the Toronto Stock Exchange and Nasdaq Global Select Market at market open on July 7, 2023. Shareholders do not need to take any action with respect to the Share Consolidation, as the process will be completed automatically through the Company’s transfer agent.
Upon completion of the Share Consolidation, the Company’s common shares will continue to trade on the Toronto Stock Exchange and Nasdaq Global Select Market under the same ticker symbols.
About Organigram Holdings Inc.
Organigram Holdings Inc. is a NASDAQ Global Select Market and TSX listed company whose wholly-owned subsidiaries include: Organigram Inc. and Laurentian Organic Inc., licensed producers of cannabis and cannabis-derived products in Canada, and The Edibles and Infusions Corporation, a licensed manufacturer of cannabis-infused soft chews in Canada. Organigram is focused on producing high-quality, cannabis for patients and adult recreational consumers, as well as developing international business partnerships to extend the Company’s global footprint. Organigram has also developed and acquired a portfolio of legal adult-use recreational cannabis brands, including Edison, Holy Mountain, Big Bag O’ Buds, SHRED, SHRED’ems, Monjour, Laurentian, Tremblant Cannabis and Trailblazer. Organigram operates facilities in Moncton, New Brunswick and Lac-Supérieur, Quebec, with a dedicated edibles manufacturing facility in Winnipeg, Manitoba. The Company is regulated by the Cannabis Act and the Cannabis Regulations (Canada).
