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Organigram Announces First International Expansion Investment
Organigram Announces First International Expansion Investment Canada NewsWire MO...
About this update from Organigram Global Inc.
[{"type":"text","content":"\n\n\n\nOrganigram Announces First International Expansion Investment\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nMONCTON, NB, May 8, 2018\n\n\n\nPotential investment in alpha-cannabis® Pharma GmbH represents strategic opportunity to deliver product to the German market\n\n\n\nMONCTON, NB, May 8, 2018 /CNW/ - Organigram Holdings Inc. (TSX VENTURE: OGI) (OTCQB: OGRMF) (the \"Company\" or \"Organigram\"), a leading licensed producer of medical marijuana based in Moncton, New Brunswick, is pleased to announce it has entered a non-binding term sheet to acquire up to 25 per cent of alpha-cannabis Pharma GmbH (\"Alpha-Cannabis Germany\" or \"ACG\") located in Stadthagen, Germany. \n\n\"We are proud to have developed a world-class indoor facility producing Canada's premier medical cannabis which is now ready to help support the global cannabis market,\" said Greg Engel, CEO, Organigram. \"As we expand into international market development and technology acquisition, we are pleased to announce our proposed investment in Alpha-Cannabis Germany, the first of what we anticipate will be several international business development announcements.  We have taken the time to curate several opportunities which, like ACG, we believe offer excellent strategic fit and add value to our core operations.\"\n\nAccording to the non-binding term sheet, Organigram will invest up to €1,625,000 in cash and €875,000 worth of Organigram common shares (based on the achievement of milestones) for 25 per cent of the aggregate issued and outstanding shares of Alpha-Cannabis Germany on a fully-diluted basis.  Once the agreement is final, Organigram will provide ACG with dried cannabis flower as well as sweet leaf for conversion into extracts for the burgeoning German medical cannabis market.  Further, the parties also anticipate entering into an agreement whereby Organigram will have an option to purchase pure synthetic CBD isolate from Alpha-Cannabis Germany.  The parties anticipate jointly submitting for future ...