OrganiGram Holdings Inc (CVE:OGI) CEO on $98 Million Debenture Conversion into Common Shares
OrganiGram Holdings Inc (CVE:OGI) (OTCMKTS:OGRMF) (FRA:0OG) CEO Greg Engel shares details of the company’s decision to covert its remaining debentures (due in 2020) into common shares at a rate of $5.42 per share. Engel acknowledges that the move will add 18 million shares to the company’s existing volume, but notes there has been considerable demand for OrganiGram shares this year. Engel addresses the 50 percent recreational market share enjoyed by Aurora Cannabis Inc (TSE:ACB) (NYSE:ACB) (FRA:21P) and Canopy Growth Corp (TSE:WEED) (NYSE:CGC) (FRA:11L1). Engel reminds viewers that OrganiGram produced more cannabis in that quarter than both companies. OrganiGram recently announced a supply agreement with Quebec, making it one of only three LPs that have supply agreements with all 10 provinces.
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