2016-10-12 09:08 ET – News Release
Mr. Larry Rogers reports
ORGANIGRAM FINALIZES AGREEMENT WITH TGS INTERNATIONAL
Organigram Holdings Inc. has completed its previously disclosed licensing transaction with TGS International LLC.
Pursuant to the agreement between the company and TGS, which was originally disclosed on Sept. 1, 2016, the TSX Venture Exchange has approved and the company has issued 437,957 common shares to TGS at a deemed price of $1.37 per share. As per the terms of the agreement, the shares will be released to TGS according to an escrow schedule that relates to certain calendar and operational milestones.
“We are pleased to have finalized this transaction and look forward to continuing our work with TGS. Their technological knowledge and cannabis expertise are key for Organigram as we continue to focus on maximizing our production yields, streamlining our extraction processes, and continuing to develop and innovate our portfolio of high-quality cannabis products,” said Denis Arsenault, chief executive officer of Organigram.
Organigram Holdings 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, N.B., and the company is regulated by the access to cannabis for medical purposes regulations (ACMPR).
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