Organigram Successfully Closes Previously Announced Underwritten Public Offering

Organigram Holdings Inc. (“Organigram” or the “Company”) (TSX: OGI; NASDAQ: OGI) announces today the closing of its previously announced underwritten public offering of units of the Company (the “Units”) for total gross proceeds of C$28,750,230 (the “Offering”). The Company sold 8,901,000 Units at a price of C$3.23 per Unit, which included 1,161,000 Units sold pursuant to the exercise in full of the Underwriters’ over-allotment option.

Each Unit is comprised of one common share of the Company (a “Common Share”) and one-half of one Common Share purchase warrant (each full common share purchase warrant, a “Warrant”). Each Warrant is exercisable to acquire one Common Share (a “Warrant Share”) for a period of four years following the closing date of the Offering at an exercise price of C$3.65 per Warrant Share, subject to adjustment in certain events.

ATB Securities Inc. (“ATB”), as the lead underwriter for the Offering, and A.G.P. Canada Investments ULC (together with ATB, the “Underwriters”) acted as the underwriters for the Offering. The Units were offered in the United States through the Underwriters’ broker-dealer affiliates or agents. The Company expects to use the net proceeds from the Offering to fund growth initiatives and for general corporate purposes.

In connection with the Offering, the Company filed a prospectus supplement dated March 27, 2024 (the “Prospectus Supplement”) to the Company’s short form base shelf prospectus dated October 6, 2023 (the “Base Shelf Prospectus”) with the securities commissions or similar securities regulatory authorities in each of the provinces and territories of Canada. In addition, the Prospectus Supplement was filed with the United States Securities and Exchange Commission (the “SEC”) as a supplement to the Company’s registration statement on Form F-10 (SEC File No. 333-274686) (the “Registration Statement”) under the United States/Canada Multi-Jurisdictional Disclosure System which includes the Base Shelf Prospectus. The Prospectus Supplement, the Base Shelf Prospectus and the Registration Statement contain important detailed information about the Company and the Offering.

Copies of the Prospectus Supplement and the Base Shelf Prospectus are available on SEDAR+ at www.sedarplus.ca and copies of the Prospectus Supplement and the Registration Statement are available on EDGAR on the SEC’s website at www.sec.gov. Copies of the Prospectus Supplement, the Base Shelf Prospectus and the Registration Statement may also be obtained in from ATB Securities Inc., 66 Wellington Street West, Suite 3530, Toronto, Ontario M5K 1A1, Attn: Jay Lewis, by telephone at [phone], or by email at [e-mail].