Organigram Holdings Inc. (TSX: OGI) (NASDAQ: OGI) has purchased The Edibles & Infusions Corp. for $22 million.
The Moncton, New Brunswick-bassed company agreed to acquire all of the issued and outstanding shares of the soft chew manufacturer co-founded by AgraFlora Organics International Inc. (Pink: AGRA) and Cavalier Candies CEO James Fletcher.
Organigram agreed to issue 5,045,873 of its shares at $4.36 each payable on deal closing.
It also opted to pay up to an additional $13 million in shares once Edibles & Infusions achieves particular earnout milestones.
Hyperion Capital Inc. provided financial advice to Organigram for …