Organigram announces product purchase agreement with Greentank

Organigram announced it has entered into a product purchase agreement with Green Tank Technologies a vaporization technology company and a subscription agreement with Greentank’s parent company, Weekend Holdings Corp. The Purchase Agreement provides Organigram with an exclusivity period in Canada for the new technology incorporated into 510 vape cartridges for use with cannabis, including the development of a custom all-in-one device that will be proprietary to Organigram. Pursuant to the terms of the Subscription Agreement Organigram has subscribed for preferred shares for an aggregate subscription price of $4M representing an approximate 2.6% interest in Holdings. Organigram’s investment combined with the Purchase Agreement is expected to transform Organigram’s current and future vapour hardware lineup across its portfolio of recreational brands.