Organigram receives Nasdaq listing non-compliance notification

Organigram received notification from Nasdaq that it is not in compliance with the minimum bid price requirement for continued listing on the Nasdaq Global Select Market, since the closing bid price for the company’s common shares was below $1.00 for 30 consecutive trading days. The notification has no immediate effect on the listing of the company’s common shares on the Nasdaq Global Select Market. The company has a period of 180 calendar days from the date of Notification, being until July 24, to regain compliance with the Minimum Bid Requirement, during which time the common shares will continue to trade on the NASDAQ Global Select Market. In the event the company does not regain compliance with the Minimum Bid Requirement by July 24, the company may be eligible for an additional period of 180 calendar days to regain compliance or may be subject to delisting. The company’s common shares are also listed on the Toronto Stock Exchange and the notification does not affect the company’s compliance status with such listing.