WILMINGTON, Del. , March 11, 2021 /CNW/ – BT DE Investments Inc. (the ” Purchaser “) announced today that it has acquired 58,336,392 common shares (the ” Common Shares “) of Organigram Holdings Inc. (the ” Issuer “) pursuant to a subscription agreement dated March 10, 2021 (the ” Transaction “). The Purchaser is a wholly owned indirect subsidiary of British American Tobacco p.l.c.
Immediately prior to the Transaction, the Purchaser did not have beneficial ownership of any securities of the Issuer. Immediately after the Transaction, the Purchaser acquired beneficial ownership of 58,336,392 Common Shares, representing approximately 19.9% of the issued and outstanding Common Shares.
The Purchaser entered into the Transaction as part of a strategic investment in the Issuer and intends to review its investment in the Issuer on a continuing basis. The Purchaser may, subject to the terms of the investor rights agreement entered into between the Purchaser and the Issuer dated March 10, 2021, depending upon a number of factors including market and other conditions, increase or decrease its beneficial ownership, control, direction or economic exposure over securities of the Issuer.
The Common Shares are listed on the Toronto Stock Exchange and the NASDAQ under the symbol “OGI”. The Issuer is a corporation existing under the laws of Canada with its head office at 35 English Dr., Moncton, NB E1E 3X3.
An early warning report will be electronically filed with the applicable securities commission in each jurisdiction where the Issuer is reporting and will be available on SEDAR at www.sedar.com. For further information or to obtain a copy of the Early Warning Report, please contact:
+44 (0) 20 7845 2888 (24 hours) | @BATplc
Mike Nightingale : +44 (0)20 7845 1180
Victoria Buxton : +44 (0)20 7845 2012
William Houston : +44 (0)20 7845 1138
John Harney : +44 (0)20 7845 1263
BT DE Investments Inc.
103 Foulk Road, Suite 111
Wilmington, Delaware 19803
SOURCE BT DE Investments Inc.
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