A pair of Canadian hashish corporations say they’re becoming a member of as much as type the biggest producer on the planet primarily based on gross sales.
Aphria Inc. of Leamington, Ont., and Nanaimo, B.C.-based Tilray Inc., introduced early Wednesday they’re merging in an all-stock deal.
Below the phrases of the deal, Aphria shareholders will get 0.8381 shares of Tilray for every Aphria frequent share they maintain. As soon as the deal concludes, Aphria shareholders will personal roughly 62 per cent of the excellent Tilray shares, leading to a reverse acquisition of Tilray.
The merged firm will function beneath the Tilray identify, whereas its shares will commerce on NASDAQ beneath the TLRY ticker image. Aphria will turn into a unit of Tilray.
The businesses stated that primarily based on the previous 12 months, their mixed income would have been $874 million.
Irwin Simon, Aphria’s present chairman and chief government officer, will tackle those self same roles within the merged firm. Present Aphria administrators will occupy seven of the 9 seats on the brand new firm’s board of administrators, with Tilray getting the opposite two.