Organigram Announces Launch of Overnight Marketed Public Offering

Organigram Holdings Inc. (“Organigram” or the “Company”) (TSX: OGI; NASDAQ: OGI), announces today an overnight marketed public offering of units of the Company (the “Units”) for total gross proceeds of approximately C$25 million (the “Offering”). The Offering is expected to be completed pursuant to an underwriting agreement to be entered into between the Company and ATB Securities Inc., as lead underwriter, on behalf of itself and a syndicate of underwriters including A.G.P. Canada Investments ULC. The Offering will be made in the United States through the lead underwriter's U.S. affiliate, ATB Capital Markets USA Inc.

The Units are expected to be comprised of common shares of the Company and common share purchase warrants of the Company (“Warrants”). The final composition of the Units and the terms of the Warrants will be determined in the context of the market.

The Offering is expected to be priced in the context of the market with the price, total size and other final terms of the Offering to be determined at the time of entering into a definitive underwriting agreement between the Company and the underwriters. In addition, the Company will grant the underwriters an over-allotment option exercisable for a period of 30 days from the closing date of the Offering to purchase up to an additional 15% of the Offering, which will be comprised of additional Units at the Offering price.

The Offering is expected to close on April 2, 2024 and will be subject to market and other customary conditions, including the approval of the Toronto Stock Exchange and compliance with the notification rules of NASDAQ. There can be no assurance as to whether or when the Offering may be completed, or as to the actual size or terms of the Offering.

The Company expects to use the net proceeds from the Offering to fund growth initiatives and for general corporate purposes. The Company sees compelling opportunities for accretive acquisitions and investments in both the Canadian market and international federally legal cannabis and hemp markets to deliver long-term value for shareholders.

The Units will be offered pursuant to a prospectus supplement (the “Prospectus Supplement”) to the Company’s short form base shelf prospectus dated October 6, 2023 (the “Base Shelf Prospectus”) to be filed with the securities commissions or similar securities regulatory authorities in each of the provinces and territories of Canada. In addition, the Prospectus Supplement will be 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. Prospective investors should read the Prospectus Supplement, the Base Shelf Prospectus and the Registration Statement and the other documents the Company has filed on SEDAR+ and EDGAR before making an investment decision.