Organigram Supports Cannabis In Germany With $15M Initial Investment In This Berlin Marijuana Co.
Portfolio Pulse from Jelena Martinovic
Organigram Holdings Inc. (NASDAQ:OGI) announced a $15 million investment in Berlin-based Sanity Group GmbH to expand its presence in the European cannabis market. The investment includes an unsecured convertible note and equity purchase, along with a new supply agreement. Sanity Group holds a significant share of the German medical cannabis market and is involved in a Swiss recreational cannabis pilot program.
June 25, 2024 | 3:39 pm
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Organigram Holdings Inc. (NASDAQ:OGI) has announced a $15 million investment in Berlin-based Sanity Group GmbH to expand its presence in the European cannabis market. This strategic move includes an unsecured convertible note and equity purchase, along with a new supply agreement to boost Organigram's footprint in Germany and Europe.
The $15 million investment and new supply agreement with Sanity Group significantly enhance Organigram's presence in the European cannabis market. This strategic move is likely to boost revenues and market share, positively impacting the stock price in the short term.
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