MONCTON, NEW BRUNSWICK--(Marketwired - Dec. 15, 2015) -


OrganiGram Holdings Inc. (TSX VENTURE:OGI)(OTCQB:OGRMF) (the "Company") is pleased to announce the closing of the final tranche of their previously announced $6,350,000 non-brokered private placement of securities for gross proceeds of $600,000 (the "Financing").

The Company has issued an aggregate of 288,461 units ("Units") at a price of $1.04 per Unit for gross proceeds of $600,000. Each Unit consists of one Common share of the Company (a "Common Share"), and one-half of a share purchase warrant (each whole warrant, a "Warrant"). Each Warrant will be exercisable into one additional Common Share (a "Warrant Share") of the Company at $1.40 per Warrant Share for a period of eighteen (18) months from the date of closing of the Financing. The Company intends to use the proceeds from the Offering for accelerated facility expansion and general working capital purposes.

In addition, the Company has secured an amount of $300,000 in a convertible debenture which carries an interest rate of 6.75% (the "Debentures"). The Debenture will mature on December 31, 2018 and may be converted by the debenture holder at a ratio of 714.286 Common shares per $1,000.00 of the principal amount converted.

"As the Company continues to grow, OrganiGram appreciates the confidence of the Board of Directors and all other investors that participated in this financing round," said Roger Rogers, President and CFO. "The Company looks forward to allocating this capital effectively to expand the facility, enhance working capital and continue marketing initiatives. This will also help the company position for national legalization in light of the Federal Government's platform position to legalize recreational marijuana."

In addition, the company would like to announce that their Financial Statements for the Year Ended August 31, 2015 will be filed with SEDAR at the close of business on December 17th. They would invite any and all investors to join on their year-end investor call on Friday December 18th at 8:30 am (ET). The call-in details are as follows;

Participant Toll Free Dial-In Number: (877) 291-4570

Conference ID: 8424737

Should an investor not be able to attend this call, there will be a recording available until December 26th, 2015 at the following number;

Replay Toll Free Dial-In Number: (800) 585-8367

Replay Password: 8424737

Related parties of the Company have acquired shares and warrants under the private placement. Such participation is considered "related party transactions" within the meaning of the TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61-101 ("MI 61-101"). The company relied on the exemptions from the formal valuation and minority approval requirements of MI 61-101 in respect of related party participation as at the time the transaction is agreed to, neither the fair market value of the subject matter of, nor the fair market value of the consideration for, the transaction, insofar as it involves interested parties, exceeds 25 per cent of the Company's market capitalization.

The shares, warrants, warrant shares, debentures and debenture shares referred to in this news release have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption from the U.S. registration requirements. This news release does not constitute an offer for sale of securities for sale, nor a solicitation for offers to buy any securities. Any public offering of securities in the United States must be made by means of a prospectus containing detailed information about the company and management, as well as financial statements.

The Financing is subject to the final approval of the TSX Venture Exchange. All securities issued will be subject to a hold period pursuant to applicable securities law.

About Organigram Holdings Inc.

Organigram Holdings Inc. is a TSX Venture Exchange listed company whose wholly owned subsidiary, Organigram Inc., is a licensed producer of medical marijuana in Canada. Organigram is focused on producing the highest quality, condition specific medical marijuana for patients in Canada. Organigram's facility is located in Moncton, New Brunswick and the Company is regulated by the Marihuana for Medical Purposes Regulations.

On behalf of the board of directors,

Denis Arsenault Director and CEO

OrganiGram Holdings Inc.

The TSX Venture Exchange Inc. has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.

This news release contains forward-looking information, which involves known and unknown risks, uncertainties and other factors that may cause actual events to differ materially from current expectation. Important factors - including the availability of funds, the results of financing efforts, crop yields - that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time on SEDAR (see Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The company disclaims any intention or obligation, except to the extent required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Contact Information:

OrganiGram Holdings Inc.
Giselle Doiron
Director of Investor and Media Relations
(506) 801-8986