Organigram to acquire the remaining shares in Sanity Group for up to €227.2m.

Organigram, a licensed producer of cannabis, agreed to acquire the remaining shares in Sanity Group, a European cannabis health and life-sciences company, for up to €227.2m. British American Tobacco, a shareholder in both companies, has chosen to receive its payment in Organigram stock instead of cash. “Organigram’s proven track record in executing highly strategic and complementary M&A is exemplified by our proposed acquisition of Sanity Group—a transaction that is both strategically significant and financially accretive. By combining our strengths as focused cannabis pure play companies, we will be well-positioned to deliver meaningful value for our shareholders and accelerate growth in key European markets. We are truly excited about the opportunities ahead with this acquisition as we are now poised to set a new standard in the global cannabis sector together,” Paolo De Luca, Organigram Chief Strategy Officer.