Marijuana - Companies & Stocks

[Goodbuddy4863]

OrganiGram Secures $6,350,000 in a Non-Brokered Private Placement to Position the Company for National Legalization:

https://finance.yahoo.com/news/organigram-secures-6-350-000-142800927.html

MONCTON, NEW BRUNSWICK--(Marketwired - Nov 5, 2015) - OrganiGram Holdings Inc. (TSX VENTURE:OGI)(OGRMF) ("OrganiGram" or the "Company") is pleased to announce that, subject to TSX Venture Exchange approval, the Company has secured a non-brokered private placement offering for net proceeds of $6,350,000 (the "Offering").

"The Company will issue an aggregate of 3,298,077 units ("Units") at a price of $1.04 per Unit (the "Offering Price") for net proceeds of $3,430,000. Each Unit consists of one common share of the Company (a "Common Share"), and one-half of a share purchase warrant (each whole warrant, a "Warrant"). Each Warrant will be exercisable into one additional Common Share (a "Warrant Share") of the Company at $1.40 per Warrant Share for a period of eighteen (18) months from closing of the Offering. The Company intends to use the proceeds from the Offering for accelerated facility expansion and general working capital purposes.

In addition, the Company has secured convertible debentures in the aggregate amount of $2,920,000 which carry an interest rate of 6.75% and which mature on December 31, 2018. The debentures may be converted by the debenture holder at a ratio of 714.286 shares per $1,000 of the principal amount converted."
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I did mention that something else must be in play with OrganiGram