Shareholders of Organigram Global Inc. overwhelmingly approved the company’s proposed acquisition of Germany-based Sanity Group GmbH and a related private placement with British American Tobacco subsidiary BT DE Investments at a meeting held on March 30. The transaction resolution passed with 93% of votes cast, excluding shares associated with BAT, and authorizes Organigram to issue up to 96.3 million common shares to Sanity Group shareholders and BAT in connection with the deal.
The acquisition, expected to close in April subject to customary conditions, is positioned to expand Organigram’s presence from its leading position in Canada’s adult-use market into the German medical cannabis sector and establish a broader European operational footprint. Shareholders also approved the election of 10 directors, the reappointment of PricewaterhouseCoopers LLP as auditor, and the approval of unallocated awards under the company’s long-term equity incentive plan.
