Organigram Holdings Inc. (NASDAQ: OGI) (TSX: OGI), and its subsidiary Organigram Inc. (together, the "Company" or "Organigram"), a leading licensed producer of cannabis in Canada, has reached a proposed settlement (“Settlement”) in a previously disclosed class action related to medical cannabis that was voluntarily recalled in December 2016 and January 2017 (“Class Action”). The Supreme Court of Nova Scotia (the “Court”) approved notice of Settlement will be sent to class members beginning on June 24, 2022.

As part the Settlement, the Company has agreed to pay an aggregate of $2,310,000 (the “Settlement Amount”), which amount has been previously accrued in the Company’s financial statements for the prior fiscal year.

For the proposed Settlement to become effective, it must be approved by the Court. The Court must be satisfied that the settlement is fair, reasonable and in the best interest of the Class. On August 31, 2022, the Court will hold a hearing to consider whether to approve the Settlement. If the Settlement is approved by the Court, the Settlement Amount will be used to provide Class Members a refund of the amounts paid to purchase the voluntarily recalled product, less any refunds they have already received, as well as the payment of legal fees. In addition, the Company has agreed to pay the third-party claims administration costs.

About Organigram Holdings Inc.

Organigram Holdings Inc. is a NASDAQ Global Select Market and TSX listed company whose wholly-owned subsidiaries include: Organigram Inc. and Laurentian Organic Inc., licensed producers of cannabis and cannabis-derived products in Canada, and The Edibles and Infusions Corporation, a licensed manufacturer of cannabis-infused soft chews in Canada.

Organigram is focused on producing high-quality, cannabis for patients and adult recreational consumers, as well as developing international business partnerships to extend the Company’s global footprint. Organigram has also developed and acquired a portfolio of legal adult-use recreational cannabis brands, including Edison, Big Bag O’ Buds, SHRED, SHRED’ems, Monjour, Laurentian, Tremblant Cannabis and Trailblazer. Organigram operates facilities in Moncton, New Brunswick and Lac-Supérieur, Quebec, with a dedicated edibles manufacturing facility in Winnipeg, Manitoba. The Company is regulated by the Cannabis Act and the Cannabis Regulations (Canada).