.jpg)
2 hours ago
3
Article content
TORONTO — Organigram Global Inc. (NASDAQ: OGI) (TSX: OGI), (the “Company” or “Organigram”), is pleased to announce that the shareholders of Organigram have overwhelmingly approved the resolution required to consummate the previously announced acquisition by the Company (the “Transaction”) of Sanity Group GmbH (“Sanity Group”) and the related private placement financing (the “Private Placement”) with BT DE Investments Inc., a wholly-owned subsidiary of British American Tobacco (“BAT”) at the Company’s annual general and special meeting of shareholders (the “Shareholders”) held on March 30, 2026 (the “Meeting”).
THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY
Subscribe now to read the latest news in your city and across Canada.
- Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.
- Daily content from Financial Times, the world's leading global business publication.
- Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.
- National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.
- Daily puzzles, including the New York Times Crossword.
SUBSCRIBE TO UNLOCK MORE ARTICLES
Subscribe now to read the latest news in your city and across Canada.
- Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.
- Daily content from Financial Times, the world's leading global business publication.
- Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.
- National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.
- Daily puzzles, including the New York Times Crossword.
REGISTER / SIGN IN TO UNLOCK MORE ARTICLES
Create an account or sign in to continue with your reading experience.
- Access articles from across Canada with one account.
- Share your thoughts and join the conversation in the comments.
- Enjoy additional articles per month.
- Get email updates from your favourite authors.
THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.
Create an account or sign in to continue with your reading experience.
- Access articles from across Canada with one account
- Share your thoughts and join the conversation in the comments
- Enjoy additional articles per month
- Get email updates from your favourite authors
Sign In or Create an Account
or
Article content
Article content
Shareholders approved an ordinary resolution (the “Transaction Resolution”) authorizing (i) the indirect acquisition by the Company of all the issued and outstanding shares of Sanity Group not already owned by the Company, and (ii) the issuance by the Company of up to 96,287,602 common shares to the shareholders of Sanity Group and BAT in connection with the Transaction and the Private Placement, by an affirmative vote of 93% of the votes represented at the Meeting, excluding the votes attached to the Company’s common shares beneficially owned, or over which control or direction was exercised by BAT, its associates and affiliates and their respective directors and officers who held Organigram common shares as of the record date for the Meeting in accordance with the rules of the TSX Company Manual and Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions. The full text of the Transaction Resolution is set forth as “Appendix B” in the Company’s management information circular dated February 23, 2026 (the “Circular”) provided in connection with the Meeting.
Article content
Article content
By signing up you consent to receive the above newsletter from Postmedia Network Inc.
Article content
Transaction Highlights
Article content
- Financially accretive acquisition that is expected to bring scale and positively impact both revenue and profitability. Sanity generated positive EBITDA in 2025.
- Cements Organigram’s position as a leader in the growing global cannabis market. Organigram is currently #1 in the Canadian adult use recreational market, and on closing will become a top company in the rapidly growing German medical cannabis market, the second largest federally legal cannabis market in the world after Canada.
- Provides Organigram with a vertically integrated European ‘hub’ and footprint. Will add local leadership, a strong network of strategic partners throughout the value chain across Europe as well as commercial, operational, medical and regulatory expertise.
- Sanity Group operates Europe’s first two legal cannabis specialty stores as part of scientific pilot projects in Switzerland. Pilot project experience also enhances credibility for future pilot projects, including in Germany.
- Provides Organigram the opportunity to bring its industry leading brands and IP to new markets globally. The combination of both teams, with the support of the Product Development Collaboration (PDC) generated intellectual property, is expected to deliver a suite of next generation cannabis innovations, backed by science, to European medical markets.
Article content
Article content
In addition to the shareholder approval obtained, the Transaction remains subject to the satisfaction of certain customary closing conditions for transactions of this nature, including the completion of the Private Placement and the ATB Financial senior secured credit facilities. The Company previously obtained foreign direct investment (FDI) clearance for the Transaction. Closing of the Transaction is expected to occur in April 2026.
Article content
In addition to the approval of the Transaction Resolution, the Shareholders approved all other matters presented for approval at the Meeting, as described in further detail below.
Article content
Election of Directors
Article content
Each of the ten nominees listed in the Circular were elected as directors of the Company. The Company received proxies and virtual votes at the Meeting as set out below:
Article content
Nominee | # Votes For | % of Votes | # Votes | % of Votes |
Peter Amirault | 49,413,277 | 98.6% | 725,875 | 1.4% |
James Yamanaka | 49,488,063 | 98.7% | 651,090 | 1.3% |
Dexter John | 49,474,313 | 98.7% | 664,839 | 1.3% |
Stephen Smith | 49,404,097 | 98.5% | 735,056 | 1.5% |
Geoffrey Machum | 49,388,232 | 98.5% | 750,921 | 1.5% |
Sherry Porter | 49,448,299 | 98.6% | 690,854 | 1.4% |
Marni Wieshofer | 49,393,604 | 98.5% | 745,549 | 1.5% |
Simon Ashton | 49,292,856 | 98.3% | 846,297 | 1.7% |
Karina Gehring | 49,352,986 | 98.4% | 786,167 | 1.6% |
Craig Harris | 49,370,278 | 98.5% | 768,874 | 1.5% |
Article content
The biographies of the Company’s directors are set out in the Circular, which is available under the Company’s profile on SEDAR+ at www.sedarplus.ca and on EDGAR at www.sec.gov.
Article content
Committee Composition
Article content
Following the Meeting, the Board has reviewed and approved the composition of its Committees which remain unchanged. The Investment Committee consists of Dexter John (Chair), Stephen Smith, Marni Wieshofer, Simon Ashton and Craig Harris. The Governance, Nominating and Sustainability Committee consists of Geoff Machum (Chair), Sherry Porter, Dexter John and Craig Harris. The Audit Committee consists of Stephen Smith (Chair), Dexter John, Marni Wieshofer and Simon Ashton and the Compensation Committee consists of Sherry Porter (Chair), Geoff Machum and Karina Gehring.
Article content
Appointment of Auditor
Article content
PricewaterhouseCoopers LLP was appointed as the auditor of the Company until the next annual meeting of the shareholders of the Company or until its successor is duly appointed, and the directors of the Company were authorized to fix the remuneration of such auditor by the affirmative vote of 97% of the votes represented at the Meeting.
English (US)