The reverse merger with Tilray will see Aphria shareholders get 0.8381 shares of Tilray for each Aphria share they own, while owning 62% of the combined company, which on a pro forma basis had . 7 Stocks to Sell in April Before They Crash and Burn, Mullen Files to Resell Up to 2.1 Billion Shares of MULN Stock, 7 Dividend Stocks to Buy That Are Backed by Strong Cash Flows, 3 Reasons Why the Aphria-Tilray Merger Will Be a Winner. Any information or statements that are contained in this communication that are not statements of historical fact may be deemed to be forward- looking statements, including, but not limited to, statements regarding the expected strategic and financial benefits of the business combination. Irwin D Simon, formerly Aphrias CEO and chairman, will lead the new Tilray, with Tilrays current CEO Brendan Kennedy joining the board. The April 14 th Aphria special shareholder meeting was announced after both companies received the necessary regulatory approvals to complete the proposed business combination and we are favorable on how the transaction has advanced. Husch Blackwell LLP ' is very knowledge in the world of cannabis ' and handles cannabis and industrial hemp regulatory matters across all 50 states and Washington DC. I look forward to working with Irwin and the Combined Companys management team to make our consumer products more accessible around the world.. Positioned to Pursue an Accelerated International Growth Strategy. The Merger Deal: Under the deal, each Aphria shareholder received 0.8381 of a Tilray share for each Aphria common share held on April 30. As previously announced, each Aphria shareholder received 0.8381 of a Tilray Share for each Aphria common share (each an Aphria Share) held on April 30, 2021, the effective time of the transaction. Creates the Leading Canadian Adult-Use Cannabis Licensed Producer: Together, Aphria and Tilray will be the leading adult-use cannabis Canadian Licensed Producer based on revenue for the last twelve months by combining their respective brands, distribution networks and world-class facilities. For more information on how we open a world of wellbeing, visit Tilray.com. Effective on closing, the senior management team and Board of Directors of the Company were reconstituted as follows: The new Tilray logo blends both Aphria and legacy Tilrays branding into a design that reflects the new Companys growing portfolio of brands across cannabis-lifestyle and wellness product categories, including medical, adult-use, hemp foods, and beverages. Material risks and uncertainties that could cause actual results to differ from forward-looking statements include the inherent uncertainty associated with the financial and other projections a well as market changes arising from governmental actions or market conditions in response to the COVID-19 public health crisis; the prompt and effective integration of the Company; the ability to achieve the anticipated synergies and value-creation contemplated by the business combination; the response of business partners and retention as a result of the business combination; the impact of competitive responses to the business combination; and the diversion of management time on business combination-related issues. The board of directors will consist of nine members, seven of which, including Mr. Simon, are current Aphria directors and two of which will be from Tilray, including Brendan Kennedy, and one of which is to be designated. As these markets begin to re-open, Tilray is poised to strike and transform the industry with our highly scalable operational footprint, a curated portfolio of diverse medical and adult-use cannabis brands and products, a multi-continent distribution network, and a robust capital structure to fund our global expansion strategy and deliver sustained profitability and long-term value for our stakeholders., Mr. Simon continued, Our global team is laser-focused on turning potential into performance and addressing consumer and patient needs for safe, innovative, and high-quality products. The companys stock will continue to list on Nasdaq under the ticker TLRY and will start trading on the Toronto Stock Exchange on Wednesday under the same ticker. 203-682-8253Raphael.Gross@icrinc.com, Aphria and Tilray Combine to Create Largest Global Cannabis Company With Pro Forma Revenue of C$874 Million (US$685 Million), Alphria Inc. & Tilray, Inc Merger Resources, https://www.businesswire.com/news/home/20201216005519/en/. For further information on the terms and conditions of the Arrangement, please refer to the Agreement in its entirety, which will be available on SEDAR at www.sedar.com and on EDGAR at www.sec.gov. Tilray's Takeover. Forward-looking statements reflect current beliefs of management of the Company with respect to future events and are based on information currently available to each respective management team including the reasonable assumptions, estimates, analysis and opinions of management of the Company considering their experience, perception of trends, current conditions and expected developments as well as other factors that each respective management believes to be relevant as at the date such statements are made. The combination is expected to unlock significant shareholder value. Ciara Linnane is MarketWatch's investing- and corporate-news editor. Dont miss:New Yorks 13% cannabis tax may be too high, since state has one of the most sophisticated black markets in U.S., expert says. Recreational marijuana sales are expected to soar if marijuana is legalized at the federal level in the U.S., a real possibility now that Democrats control the Senate. A merger Reply TLRY_MAX . In reality, this is Aphria taking over Tilray. Following completion of the Arrangement, Aphria will become a wholly-owned subsidiary of Tilray, with Aphria shareholders owning approximately 62 percent of Tilray. Lessons learned from Aphria-Tilray merger. Analyst Report: Tilray Brands, Inc.Tilray is a Canadian producer that cultivates and sells medical and recreational cannabis. In Canada, the combination of Aphria and Tilray will create the leading adult-use cannabis company with gross revenue of C$296 million (US$232 million) in the adult-use market for the twelve months reported by each company. , See now:U.S. cannabis producers are now favored by Wall Street analysts, whove soured on Canadian companies. TLRY, However, shares have a weak 26 . On December 16, 2020, Tilray (TLRY) and Aphria (APHA) announced a merger that would create the largest marijuana company globally. He is also the founder ofWebIPO, which was one of the first platforms for public offerings during the 1990s. However, it's worth noting that Aphria stockholders were the majority owners, with a 62 percent stake in the combined entity. For a more detailed discussion of risks and other factors, see the most recently filed annual information form of Aphria and the annual report filed on form 10-K of Tilray made with applicable securities regulatory authorities and available on SEDAR and EDGAR. Aphria and Tilrays complementary brands will be available across economy, value, core, premium and premium plus product offerings. were down 7% Monday, but are up 106% in the year to date, while the Cannabis ETF Headquartered in Leamington, Ontario the greenhouse capital of Canada Aphria Inc. has been setting the standard for the low-cost production of high-quality cannabis at scale, grown in the most natural conditions possible. Yet there are also major business synergies with the merger. We as well onlynstock I'm in 40k on it now joke I'm since Aphria I have a good job and can hold long term but it is depressing some days Reply . Making the world smarter, happier, and richer. Tilray's stock has lost some 36% of value in the last three years. Aphria Inc. of Leamington, Ont., and Nanaimo, B.C.-based Tilray Inc. announced early Wednesday they are merging in an all-stock deal that will create the world's top pot producer based on sales. The recent reverse merger acquisition of Tilray announcement by Aphria provides an intriguing pseudo-arbitrage opportunity. The firm is primarily known for regulation and transaction work, but also provides expertise in corporate and securities, vendor contracts, employment law . To this end, Aphria has its SweetWater Brewing segment, which is a craft beer manufacturer and distributor. Complementary, Scalable Medical and Adult-Use Cannabis Businesses Strengthen Leadership Position in Canada; Expands U.S. and International Reachthrough World-Class Cultivation, Manufacturing, Diversified Product Portfolio and Distribution Footprint, Robust Supply Chain and Operational Efficiencies Expected to Generate Approximately C$100 Million of Pre-Tax Annual Cost Synergies, Aphria and Tilray to Host a Conference Call and Webcast at 8:30 a.m. Eastern Time. Aphria Inc. is a leading global cannabis company inspiring and empowering the worldwide community to live their very best life. On the date of publication, Tom Taulli did not have (either directly or indirectly) any positions in any of the securities mentioned in this article. The purchase will shore up its share of the Canadian market, which is sagging. Operational Efficiencies Expected to Generate Approximately US$81 Million Annual Pre-Tax Cost-Saving Synergies for New Tilray Within Eighteen Months, Irwin D. Simon, Aphrias Chairman and CEO, will Lead the New Tilray and Has Appointed New Executive Leadership Team; New Members of the Board of Directors Also Appointed, New Tilray Poised to Transform the Global Cannabis Industry as a Consumer Packaged Goods Powerhouse with a Diversified Portfolio of Leading Brands, Renewed Financial Strength to Drive Accelerated Growth Strategy and Sustained Profitability, Tilrays Shares Will Continue Trading on the NASDAQ Under Symbol TLRY; Starting May 5, 2021, Tilrays Shares Will Commence Trading on the Toronto Stock Exchange Under Symbol TLRY. Kind of amazing that they can write off $1.1B in the quarter ("market cap reduction", is that the new way of saying we wrote off the terrible buys we did?) Tilray to strike US$250M deal to buy Hexo: Sources - BNN Bloomberg. We are eager to get to work and want to thank both the Aphria and the Tilray Boards of Directors and especially Brendan Kennedy for his spirit of partnership and irrepressible belief in the art of whats possible. We will benefit enormously from his legacy and continued service on the Tilray Board.. Tilray stock leapt 26% to 16.01 in the stock market today . But for Tilray shareholders, the news is likely to be a mixed blessing at best, and it shouldn't necessarily tip anyone who is currently on the fence toward buying the stock. Any information or statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements, including, but not limited to, statements in this news release with regards to: (i) statements relating to Aphrias and Tilrays strategic business combination and the expected terms, timing and closing of the Arrangement including, receipt of required regulatory approvals, shareholder approvals, court approvals and satisfaction of other closing customary conditions; (ii) estimates of pro-forma financial information of the Combined Company, including in respect of expected revenues and production of cannabis; (iii) estimates of future costs applicable to sales; (iv) estimates of future capital expenditures; (v) estimates of future cost reductions, synergies including pre-tax synergies, savings and efficiencies; (vi) statements that the Combined Company anticipates to have scalable medical and adult-use cannabis platforms expected to strengthen the leadership position in Canada, United States and internationally; (vii) statements that the Combined Company is expected to offer a diversified and branded product offering and distribution footprint, world-class cultivation, processing and manufacturing facilities; (viii) statements in respect of operational efficiencies expected to be generated as a result of the Arrangement in the amount of more than C$100 million of pre-tax annual cost synergies; (ix) expectations of future balance sheet strength and future equity; (x) that the Combined Company is expected to unlock significant shareholder value; and (xi) statements under the heading Strategic and Financial Benefits of this news release. The revenue also missed the Marketbeat.com consensus estimate by 800 basis, but only some . Tilray and Aphria and certain of their respective directors, executive officers and employees may be deemed to be participants in the solicitation of Tilray proxies in respect of the proposed transaction. Alex Carchidi has no position in any of the stocks mentioned. Shares of both companies traded higher on Wednesday, with Tilray stock up 22.74% at $9.66 and Aphria up 2.75% to $8.34. The market capitalization is now about $6 billion. The combined company will boast $685 million in annual revenue, m Other information regarding the participants in the Tilray proxy solicitation and a description of their direct and indirect interests in the proposed transaction, by security holdings or otherwise, will be contained in such proxy statement and other relevant materials to be filed with the SEC in connection with the proposed transaction. 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