BT DE Investments Inc. Acquires Stake in Organigram Holdings
WILMINGTON, Del.– BT DE Investments Inc. announced today that it has acquired 58,336,392 common shares of Organigram Holdings Inc. in an agreement dated March 10, 2021. 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”.
(Source:This information is from BT DE. Highly Capitalized has neither approved nor disapproved the contents of this news release. Read our Disclaimer here)
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