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Organigram Makes Additional USD 2.5m Investment in Cannabinoid Biosynthesis Company Hyasynth Biologicals.

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Vincent

MANews-(C)2009-2021

Canada-based biosynthesis investor, Organigram Holdings Inc. (NASDAQ: OGI), (TSX: OGI) has acquired USD 2.5m of secured convertible debentures in Montreal-based biotechnology company Hyasynth Biologicals, Inc., the company said.

Organigram Holdings is the parent company of cannabis producer Organigram Inc. and Montreal-based biotechnology company Hyasynth Biologicals Inc., operating in the field of cannabinoid science and biosynthesis.

The parties have amended certain of the debentures' terms purchased by Organigram from Hyasynth in previous tranches.

Proceeds of the investment are designated to advance Hyasynth's production scalability as well as investment into new cannabinoid technologies (including rare cannabinoids), business development efforts and company growth.

In September 2018, Organigram acquired USD 5.0m of Hyasynth debentures followed by an additional USD 2.5m in October 2020. The transaction brings Organigram's total investment in Hyasynth to USD 10m building upon previously completed milestones and...

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