OrganiGram Announces Closing of Financing and 70% Sales Growth

MONCTON, NEW BRUNSWICK--(Marketwired - Nov. 30, 2015) - THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES.

OrganiGram Holdings Inc. (TSX VENTURE:OGI) (OTCQX:OGRMF) (the "Company") is pleased to announce the closing of its non-brokered private placement of securities for gross proceeds of $5,729,999.68 (the "Financing").

The Company has issued an aggregate of 3,009,612 units ("Units") at a price of $1.04 per Unit for gross proceeds of $3,129,999.48. Each Unit consists of one Common share of the Company (a "Common Share"), and one-half of a share purchase warrant (each whole warrant, a "Warrant"). Each Warrant will be exercisable into one additional Common Share (a "Warrant Share") of the Company at $1.40 per Warrant Share for a period of eighteen (18) months from the date of closing of the Financing. The Company intends to use the proceeds from the Offering for accelerated facility expansion and general working capital purposes

In addition, the Company has secured an amount of $2,600,000 in convertible debentures which carry an interest rate of 6.75% (the "Debentures"). The Debentures shall mature on December 31, 2018 and may be converted by the debenture holder at a ratio of 714.286 Common shares per $1,000.00 of the principal amount converted.

Furthermore, the company had previously given sales guidance for the current quarter, ending November 30, 2015 of $900,000. We would like to announce that sales completed the end of November will be in excess of $1,000,000, which represents a 70% increase to the last quarter and an ending average sales price per gram of bud at $7.80. This increase is directly correlated to the improving sales prices and successful customer acquisition strategies.

At this time, we would also like to introduce Giselle Doiron as our new Director of Investor and Media Relations. Giselle has been with the company in another role, has shown great value and we are pleased that she will be assuming these responsibilities. She can be reached at (506) 801-8986 for any company inquiries.

Related parties of the Company have acquired shares and warrants under the private placement. Such participation is considered "related party transactions" within the meaning of the TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61-101 ("MI 61-101"). The company relied on the exemptions from the formal valuation and minority approval requirements of MI 61-101 in respect of related party participation as at the time the transaction is agreed to, neither the fair market value of the subject matter of, nor the fair market value of the consideration for, the transaction, insofar as it involves interested parties, exceeds 25 per cent of the Company's market capitalization.

The shares, warrants, warrant shares, debentures and debenture shares referred to in this news release have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption from the U.S. registration requirements. This news release does not constitute an offer for sale of securities for sale, nor a solicitation for offers to buy any securities. Any public offering of securities in the United States must be made by means of a prospectus containing detailed information about the company and management, as well as financial statements.

The Financing is subject to the final approval of the TSX Venture Exchange. All securities issued will be subject to a hold period pursuant to applicable securities law.

About Organigram Holdings Inc.

Organigram Holdings Inc. is a TSX Venture Exchange listed company whose wholly owned subsidiary, Organigram Inc., is a licensed producer of medical marijuana in Canada. Organigram is focused on producing the highest quality, condition specific medical marijuana for patients in Canada. Organigram's facility is located in Moncton, New Brunswick and the Company is regulated by the Marihuana for Medical Purposes Regulations.

On behalf of the board of directors,

Denis Arsenault

Director and CEO

OrganiGram Holdings Inc.

For further information please visit www.organigram.ca

The TSX Venture Exchange Inc. has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.

This news release contains forward-looking information, which involves known and unknown risks, uncertainties and other factors that may cause actual events to differ materially from current expectation. Important factors - including the availability of funds, the results of financing efforts, crop yields - that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time on SEDAR (see www.sedar.com). Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The company disclaims any intention or obligation, except to the extent required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.