Organigram Holdings Inc., a leading licensed cannabis producer, has announced the acquisition of Ontario-based Motif Labs Ltd., for an upfront consideration of $90 million, consisting of $50 million in cash and $40 million of Organigram common shares.

The acquisition propels Organigram to the number one Canadian cannabis company by market share with a combined market share of 12.4 percent and unmatched category leadership across multiple categories.

Organigram engaged BMO Capital Markets as its exclusive financial advisor, and Borden Ladner Gervais LLP as its legal counsel. Motif engaged Jefferies as its exclusive financial advisor, and Davies Ward Phillips & Vineberg LLP as its legal counsel. MLT Aikins acted on behalf of both Organigram and Motif on specified regulatory matters.