Hyasynth Bio: Organigram Invests Additional $2.5M In CBD Biotech Co Hyasynth, Wraps Up $10M Debenture Purchase Deal

Organigram Holdings Inc. (NASDAQ: OGI) (TSX:OGI) has acquired an additional $2.5 million of secured convertible debentures in Hyasynth Biologicals Inc. The move follows the second $2.5 million tranches of financing under the $10 million debenture purchase deal between Organigram Inc. - a subsidiary of the Moncton, New Brunswick-based company - and Hyasynth, which was wrapped up in October 2020. Organigram initially acquired $5 million of Hyasynth Debentures in September 2018. The parties have also amended certain of the debentures' terms purchased by Organigram from Hyasynth in previous tranches, Organigram said Wednesday. Proceeds of the investment are poised to advance Hyasynth's production scalability as well as investment into new cannabinoid technologies, business development efforts, and company growth. "Organigram continues to be extremely focused on ...Full story available on Benzinga.com