MONCTON, NEW BRUNSWICK--(Marketwired - Oct. 7, 2016) - OrganiGram Holdings Inc. (TSX VENTURE:OGI)(OTCQB:OGRMF) (the "Company" or "OrganiGram") announces that subject to the approval of the TSX Venture Exchange (the "TSXV"), the Company shall satisfy transaction success fees payable to XIB by issuing 106,430 of Common Shares in the capital of OrganiGram to XIB. The Common Shares will be issued at a price of $1.72 per share. Any issuance of shares will be subject to applicable hold periods required under securities laws.
Additionally, the Company is pleased to announce the re-appointment of XIB as a consultant of OrganiGram for an additional term of up to 12 months. Under the agreement, XIB will continue to assist the Company with corporate development initiatives including, but not limited to, acquisitions, strategic networking and market awareness.
For more information, visit www.organigram.ca
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 Access to Cannabis for Medical Purposes Regulations ("ACMPR").
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this 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.