Organigram Holdings Inc. (NASDAQ: OGI) (TSX: OGI) has announced the acquisition of 100% of Motif Labs Ltd. for CA$90 million ($64 million), comprising of CA$50 million in cash and CA$40 million in Organigram common shares, based on a 30-day trading VWAP of $2.321 on the TSX. An additional CA$10 million contingent consideration is payable in shares, conditional on achieving a share price above $3.2203 within 12 months. The deal is financed through Organigram’s cash reserves.
Organigram Wants To Become Canada’s Largest Cannabis Company By Market Share Via $71M Acquisition Deal
