Tilray-Aphria merger closes, expanded company to control biggest share of Canadian pot market

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Tilray-Aphria merger closes, expanded company to control biggest share of Canadian pot market

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Tilray Inc. and Aphria Inc. say their merger deal has now closed after receiving approval from shareholders of each corporations.

Shareholders of Nanaimo, B.C.-based Tilray voted final Friday in favour of issuing inventory to Leamington, Ont.,-based Aphria’s shareholders, however Tilray has but to disclose what number of supported the proposal.

About 99 per cent of Aphria shareholders voted in favour of the deal in April.

The 2 hashish corporations introduced in December that they’ll merge below the Tilray title with Aphria CEO Irwin Simon on the helm and Tilray CEO Brendan Kennedy becoming a member of the board. Aphria will lose its title and impartial inventory image on Wednesday.

The brand new firm is predicted to have a professional forma income of $874 million and can management greater than 17 per cent of the retail hashish market — the most important share held by any Canadian licensed producer.

Whereas Tilray shareholders at Friday’s assembly supported the Aphria deal, they voted in opposition to growing the corporate’s licensed capital inventory from greater than 743 million shares to 900 million shares.

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