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Cassels Brock Represents the Underwriters in Organigram's $115 Million Bought Deal Financing

Published: 01/31/2018

Team: Nancy Choi, Kyle Simpson, Michael Weizel, Peter J. Sullivan, Sam Massie, Christopher B. Norton

On January 31, 2018, Organigram Holdings Inc., a leading licensed producer of medical marijuana based in New Brunswick, closed a short form prospectus offering of convertible unsecured debentures, on a bought deal basis, including the full exercise of the over-allotment option. A total of 115,000 convertible debentures of Organigram were sold at a price of $1,000 per convertible debenture, for aggregate gross proceeds of $115 million.

The offering was completed by a syndicate of underwriters led by Eight Capital, and including Canaccord Genuity Corp., GMP Securities L.P. and Mackie Research Capital Corporation.

Cassels Brock acted for the underwriters with a deal team that included Nancy Choi, Kyle Simpson and Michael Weizel (Securities and Cannabis), Peter Sullivan and Sam Massie (Financial Services) and Chris Norton (Tax).