Mr. Roger Rogers reports

ORGANIGRAM RELEASES Q3 FINANCIAL RESULTS AND PROVIDES OPERATIONAL UPDATE

OrganiGram Holdings Inc. has released its financial statements for the nine-month period ended May 31, 2015. The company's quarterly financial statements, and management's discussion and analysis document are available on SEDAR.

OGI is pleased to report a profit this quarter of $119,695. Through the third quarter, it experienced exceptional sales and volume growth, as the company further implemented both customer acquisition and retention strategies. Sales grew to $230,053 in Q3, representing an increase of 238 per cent from the previous quarter. Grams sold during the period also experienced significant growth at 182 per cent, for a total in excess of 31,000 grams.

The company is on track to maintain this growth curve in the fourth quarter with projected sales of $500,000 and in excess of 1,000 registered patients. As a result of the continued sales growth, the company has completed four additional 80-light flowering rooms. It is anticipated that these new rooms will receive inspection from Health Canada in the coming days.

Roger Rogers, president, states: "I am pleased with the sales growth in Q3 and even more so with the rapid acquisition of clients that we have seen over the last few months. This growth has carried forward into Q4, and we expect to, yet again, more than double our sales in this quarter. As we move into our next fiscal year, with the upcoming approval of four new grow rooms, I foresee that this trend will continue and anticipate achieving positive cash flow in [the first quarter] of our next fiscal, which begins on Sept. 1, 2015."

The company would also like to announce the resignation of Scott Franklin as the interim chief financial officer, and announce the appointment of Mr. Rogers to president and CFO.

"I would like to thank Scott for his contributions over the past year and helping to establish OrganiGram as a successful and growing LP [licensed producer]. Scott has chosen to pursue other opportunities closer to his residence in Toronto. Due to our growth and the need for daily financial oversight, I support his decision. In addition to my role as president, I look forward to working with our team and assuming the responsibilities of CFO. Much of my career has been in senior financial roles, thus I believe this to be a natural transition for the company, and based on our success to date, I see this as an opportunity to help OrganiGram achieve even greater results," said Mr. Rogers.

Furthermore, the company is pleased to announce that it has secured $3-million of financing, with $2-million of the financing coming from Farm Credit Canada in the form of a secured long-term loan facility. The loan will be secured over all of the assets of the company.

Mr. Rogers commented: "Farm Credit has been a partner with OGI since the early stages, and we truly appreciate their continued support and the exceptional relationship we have. This additional funding is a further sign of the success of the company and the leadership of our management team."

The remaining $1-million of the financing is provided by Duce Holdings LLC and Denaco Group Ltd., a corporation in which Denis Arsenault, the chief executive officer of the company, is a director, to provide financing to the company.

Duce and Denaco have been issued subordinated secured debentures and 200,000 common share purchase warrants of the company for gross proceeds of $1-million. The debentures shall bear interest at 9 per cent per annum and shall mature on Sept. 1, 2017; the debentures are secured with a subordinated charge over all of the company's assets. The debentures may be converted into common shares of the company in certain limited circumstances. Each whole warrant entitles the holder thereof to purchase one common share of the company for 45 cents (subject to TSX Venture Exchange pricing guidelines). The warrants shall not be exercisable before 12 months after the closing date and shall expire on June 15, 2017.

The proceeds from the financing will be utilized for working capital purposes and for the expansion of the company's facility located in Moncton, N.B.

The financing is subject to the approval of the TSX Venture Exchange. All securities issued will be subject to a hold period pursuant to applicable securities law.

Analyst call

The company will be hosting an investor and analyst call on Friday, July 31, 2015, at 8:30 a.m. EDT, to discuss the Q3 results and future guidance.

Time and date:  8:30 a.m. EDT, Friday, July 31, 2015

Toll-free dial-in number:  647-788-4919

Access ID:  1537078

The conference call will be recorded and available for replay until Aug. 14, 2015.

Replay dial-in number:  416-621-4642

Passcode:  1537078