Organigram Closes $140 Million Credit Facility with Bank of Montreal

MONCTON, NB , MAY 31, 2019 /CNW/ – Organigram Holdings Inc. (OGI) (OGI), the parent company of Organigram Inc. (collectively, the “Company” or “Organigram”), a leading licensed producer of cannabis, is pleased to announce that it has closed its previously announced credit facility with Bank of Montreal (“BMO”) as lead arranger and agent as well as a syndicate including three other lenders.  The facility consists of a $115 million term loan and a $25 million revolving credit facility (together, the “Facilities”), both of which mature in May 2022.  Included in the facility is an uncommitted option to increase the Facilities by an incremental $35 million to a total of $175 million , subject to agreement by BMO and satisfaction of certain legal and business conditions.