Organigram (OGI) Announces $60 Million Underwritten Public Offering

Organigram Holdings Inc. (NASDAQ: OGI) (TSX: OGI), the parent company of Organigram Inc. (the "Company" or "Organigram"), a leading licensed producer of cannabis, announced today an underwritten public offering of units of the Company (the "Units") whereby a syndicate of underwriters, led by Canaccord Genuity Corp., has agreed to purchase 32,500,000 Units from the Company at a price of C$1.85 per Unit, for total gross proceeds of C$60,125,000 (the "Offering").

Each Unit will be comprised of one common share of the Company (a "Common Share") and one half of one common share purchase warrant of the Company (each full common share purchase warrant, a "Warrant"). Each Warrant will be exercisable to acquire one common share of the Company (a "Warrant Share") for a period of 3 years following the closing date of the Offering at an exercise price of C$2.50 per Warrant Share, subject to adjustment in certain events.

In addition, the Company has granted the underwriters a 30-day option to purchase up to an additional 15% of the Units offered in the proposed Offering on the same terms and conditions.

The Offering is expected to close on November 12, 2020 and will be subject to market and other customary conditions, including approvals of the Toronto Stock Exchange and the NASDAQ.

The Company expects to use the net proceeds from the Offering to repay indebtedness, and for working capital and other general corporate purposes.

The Units will be offered pursuant to a prospectus supplement (the "Prospectus Supplement") to its short form base shelf prospectus dated November 22, 2019 (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. 333-234564) (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 proposed 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.

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