Organigram Announces Effective Date of Share Consolidation
19 Junho 2023 - 9:00PM
Business Wire
Organigram Holdings Inc. (“Organigram” or the “Company”) (TSX:
OGI; NASDAQ: OGI) announced today 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).
This news release contains 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” or variations of such words
and phrases or state that certain actions, events, or results
“may”, “could”, “would”, “might” or “will” be taken, occur or be
achieved. Forward-looking information involves known and unknown
risks, uncertainties and other factors that may cause actual
results, events, performance or achievements of Organigram to
differ materially from current expectations or future results,
performance or achievements expressed or implied by the
forward-looking information contained in this news release. Risks,
uncertainties and other factors involved with forward-looking
information could cause actual events, results, performance,
prospects and opportunities to differ materially from those
expressed or implied by such forward-looking information include
factors and risks as disclosed in the Company’s most recent annual
information form, management’s discussion and analysis and other
Company documents filed from time to time on SEDAR (see
www.sedar.com) and filed or furnished to the Securities and
Exchange Commission on EDGAR (see www.sec.gov). Readers are
cautioned not to place undue reliance on these forward-looking
statements, which speak only as of the date of this press release.
Although the Company 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 in the disclosed time frames or at all. The forward-looking
information included in this news release are made as of the date
of this news release and the Company 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.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20230619336686/en/
For media enquiries: Paolo De Luca Chief Strategy Officer
paolo.deluca@organigram.ca
For investor enquiries: investors@organigram.ca
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