TORONTO--(BUSINESS WIRE)-- Organigram Holdings Inc. (NASDAQ: OGI ) (TSX: OGI ), (the " Company " or " Organigram "), a leading licensed producer of cannabis, announced today that on August 30, 2024, the Company closed the second of three tranches (the " Second Tranche ") of the previously announced C$124,559,674 follow-on strategic equity investment (the " Investment ") by BT DE Investments Inc. (the " Investor "), a wholly owned subsidiary of British American Tobacco plc (" BAT "). Pursuant to the Second Tranche closing, the Investor acquired 4,429,740 common shares (the " Common Shares" ) and 8,463,435 Class A preferred shares (the " Preferred Shares " and together with the Common Shares, the " Shares ") of the Company at a price of C$3.2203 per share (the " Per Share Price ") for gross proceeds of USD$30,821,684.69 (equal to C$41,519,891) 1. The remaining 12,893,175 Shares subscribed for are due to be issued at the Per Share Price in the final tranche on or around February 28, 2025 (the " Third Tranche ").