Mr. Paolo De Luca reports

ORGANIGRAM ANNOUNCES ACHIEVEMENT OF EARNOUT BY THE EDIBLES AND INFUSIONS CORPORATION

Organigram Holdings Inc.'s wholly owned subsidiary, The Edibles and Infusions Corp. (EIC), has met certain of the remaining earnout milestones that formed part of the terms of its acquisition in April, 2021.

Organigram acquired EIC in April, 2021, for consideration of $22-million plus up to an additional $13-million in share consideration based on the achievement of certain milestones. In September, 2021, the company issued 1,039,192 common shares to the vendors in that acquisition as consideration for the first milestone earnout, representing $3.5-million in consideration.

Effective today, Organigram has issued an additional 7,943,107 common shares to the vendors, representing $5-million in consideration for achievement of a second and final milestone. This represents total earnout consideration for the acquisition of $8.5-million. Up to an additional $2-million in Organigram common shares may be subsequently issued depending on the outcome of outstanding contractual matters relating to the EIC acquisition.

About Organigram Holdings Inc.

Organigram is a Nasdaq Global Select Market- and Toronto Stock Exchange-listed company whose wholly owned subsidiaries include: Organigram Inc. and Laurentian Organic Inc., licensed producers of cannabis and cannabis-derived products in Canada, and The Edibles and Infusions, a licensed manufacturer of cannabis-infused edibles in Canada.

Organigram is focused on producing high-quality cannabis for patients and adult recreational consumers, as well as developing international business partnerships, to extend the company's global footprint. Organigram has also developed and acquired a portfolio of legal adult-use recreational cannabis brands, including Edison, Holy Mountain, Big Bag O' Buds, Shred, Shred'ems, Monjour, Laurentian, Tremblant Cannabis and Trailblazer. Organigram operates facilities in Moncton, N.B., and Lac-Superieur, Que., with a dedicated edibles manufacturing facility in Winnipeg, Man. The company is regulated by the Cannabis Act and the Cannabis Regulations (Canada).

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