Organigram Makes Additional $2.5 Million Investment in Hyasynth Biologicals, a Leading Cannabinoid Biosynthesis Company

CANNANNEW REPORT

With growing interest in sustainable and bio-based cannabinoids, and after completing a strategic review of Hyasynth including their intellectual property (IP) and R&D platforms, Organigram remains excited about Hyasynth’s future and growth plans MONCTON, New Brunswick–(BUSINESS WIRE)–As an early investor in biosynthesis, Organigram Holdings Inc. (NASDAQ: OGI), (TSX: OGI), the parent company of Organigram Inc. (the “Company” or “Organigram”), a leading licensed producer of cannabis, and Hyasynth Biologicals Inc. (“Hyasynth”) a private biotechnology company and pioneer in the field of cannabinoid science and biosynthesis are pleased to announce that Organigram has acquired an additional $2.5 million of secured convertible debentures in Hyasynth (the “Debentures”). Additionally, the parties have amended certain of the Debentures’ terms purchased by Organigram from Hyasynth in previous tranches. Proceeds of the investment are designated to advance Hyasynth’s production scalability as well as investment into new cannabinoid technologies (including rare cannabinoids), business development efforts and company growth. In September 2018, Organigram acquired $5.0 million of Hyasynth Debentures followed by an additional $2.5 million in October 2020. Today’s transaction brings Organigram’s total investment in Hyasynth to $10.0 million building upon previously completed milestones and recent successes of the company in advancing technology and business development. Organigram retains its two nominees to Hyasynth’s Board of Directors comprised of seven members. In addition, Organigram continues to be a preferred partner for Hyasynth and has the option to purchase Hyasynth’s cannabinoids, subject to the terms of its agreement with Hyasynth, at a discount to the wholesale market price for a period of ten years from the date of Hyasynth’s commencement of commercial production. “Organigram continues to be extremely focused on delivering meaningful innovation to cannabis consumers, which is why we are so excited about deepening our relationship with Hyasynth. They have achieved tremendous scientific advancement in the cannabinoid biosynthesis space with…

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Source : Organigram Makes Additional .5 Million Investment in Hyasynth Biologicals, a Leading Cannabinoid Biosynthesis Company

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