Organigram Acquires Quebec-Based Laurentian Organic Inc. in Accretive Transaction

CANNANNEW REPORT

Leading premium hash brand, Tremblant Cannabis, and craft brand, Laurentian, complement Organigram’s portfolio of consumer-centric brands Strengthens Organigram’s position in the second most populous province of Quebec Expands Organigram’s high-margin, premium brand and product offering Brings Quebec’s top selling hash brand to the Organigram portfolio, with Tremblant Cannabis Adds an artisanal craft brand, Laurentian, to Organigram’s existing brand portfolio Is highly accretive on both a revenue and EBITDA basis expediting Organigram’s target timing to EBITDA positivity MONCTON, New Brunswick–(BUSINESS WIRE)–Organigram Holdings Inc. (TSX: OGI and NASDAQ: OGI), the parent company of Organigram Inc. (collectively “Organigram” or the “Company”), a leading licensed producer of cannabis, is pleased to announce it has acquired all of the issued and outstanding shares of Laurentian Organic Inc. (“Laurentian”), in a cash and share transaction for aggregate consideration of $36 million, plus earnout consideration (the “Earnout Consideration”) payable, if applicable, based on Laurentian surpassing certain EBITDA thresholds in calendar 2022 and 2023. The Laurentian acquisition (the “Laurentian Acquisition”) further strengthens Organigram’s position in the Canadian market through the expansion of the Company’s portfolio into premium products, including hash and craft cannabis, in addition to providing an important presence in the province of Quebec through a scalable cultivation and operational footprint. Laurentian was co-founded by Eric Brosseau, Mathieu Lahaie and Eric Verdier, a trio of highly passionate Quebecers who parlayed their love of cannabis into a successful cannabis company operating near the iconic Mont-Tremblant, specializing in high-quality, artisanal craft cannabis and premium Afghan hash. Organigram is excited to have a foothold in the Quebec market and is committed to building on the great progress made by the team at Laurentian through further investment in people and facilities in the province. The Company also plans to leverage its strong internal field sales force and national distribution capabilities to…

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Source : Organigram Acquires Quebec-Based Laurentian Organic Inc. in Accretive Transaction

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