Marijuana producer Organigram files CA$500 million shelf prospectus

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Marijuana producer Organigram Holdings filed a preliminary short-form base shelf prospectus to raise up to 500 million Canadian dollars ($370 million) by issuing securities over a 25-month period.

The base shelf prospectus, when finalized, “will provide flexibility for financing options to pursue the company’s objectives,” Organigram said in a Tuesday news release.

The prospectus was filed with Canadian securities regulators and a registration statement with the U.S. Securities and Exchange Commission.

Once finalized, the prospectus will allow Organigram to sell securities such as common shares, debt securities, warrants and subscription receipts over the 25-month period.

The terms of any future offerings of securities will be established in a prospectus supplement, the company said.

In July, Organigram said it had CA$75 million in cash.

The preliminary short-form base prospectus is available here.

The company’s shares trade as OGI on the Nasdaq and Toronto Stock Exchange.