AGFAF - Digicann Ventures Announces Receipt of Last Portion of Final Earnout Milestone Payment | Benzinga
VANCOUVER, British Columbia, Sept. 15, 2023 (GLOBE NEWSWIRE) -- Digicann Ventures Ltd. ("Digicann" or the "Company") (CSE:DCNN) (OTCPK: AGFAD), a company focused on the cannabis industry, announces that, further to its news releases issued on April 6, 2021, September 8, 2021 and May 23, 2023, the Company received the last portion of the final earnout milestone payment (the "Final Earnout Milestone Payment" or "FEMP") from Organigram Holdings Inc. ("OGI") on September 15, 2023. The Final Earnout Milestone Payment is related to the previously announced sale of Edibles & Infusions Corp. ("EIC") to OGI by a group of stakeholders including but not limited to the Company.
Digicann received approximately $1.5 million of the FEMP in the form of OGI common shares (the "Earnout Shares"). Specifically, Digicann received 635,593 shares of OGI via the Direct Registration System. The last portion of Earnout Shares were issued at an approximate price of $2.36, which is the five-day volume weighted average price of OGI's common shares on their date ...