Jefferies LLC is serving as financial advisor and DLA Piper LLP (US), DLA Piper (Canada) LLP and Fasken Martineau Dumoulin LLP are acting as legal counsel to Aphria. were down 7% Monday, but are up 106% in the year to date, while the Cannabis ETF He is also the founder ofWebIPO, which was one of the first platforms for public offerings during the 1990s. The record date for determining the Aphria Shareholders and the Tilray Stockholders entitled to receive notice of and vote at the Aphria Meeting and the Tilray Meeting, respectively, was . Our highly complementary businesses create a combined company with a leading branded product portfolio, including the most comprehensive Cannabis 2.0 product offerings for patients and consumers, along with significant synergies across our operations in Canada, Europe and the United States. People may receive compensation for some links to products and services on this website. Growing legalization and adoption of cannabis for the . The Combined Company expects to achieve cost synergies in the key areas of cultivation and production, cannabis and product purchasing, sales and marketing and corporate expenses. Tilray Brands sustaining and growing the top line while strengthening the balance sheet. 5 Hypergrowth Stocks With 10X Potential in 2023, spending is expected to hit a hefty $55.9 billion by 2026, spending to hit $41 billion by 2025, which would represent a 21% CAGR, One Little-Known Tech Stock Could Be the Next Big Thing in 2023, NIOs New Expansion Plans: What It Means for Investors, Louis Navellier and the InvestorPlace Research Staff. We expect that the business combination will provide, among others, the following financial and strategic benefits: Worlds Largest Global Cannabis Company. Alex Carchidi has no position in any of the stocks mentioned. Upon the completion of the Arrangement, Aphria Shareholders will own approximately 62 percent of the outstanding Tilray Shares on a fully diluted basis, resulting in a reverse acquisition of Tilray, representing a premium of 23 percent based on the share price at market close on December 15, 2020 to Tilray shareholders. | Aktienforum | Aktien Forum | Diskussionsboard | Community von finanzen.net In Canadas C$3.1 billion adult-use, retail market3, the Combined Company will have one of the lowest cost production operations with its state-of-the-art facilities. In connection with the proposed transaction, Aphria will file a management information circular, and Tilray will file a proxy statement on Schedule 14A containing important information about the proposed transaction and related matters. www.cannabisbusinesstimes.com is using a security service for protection against online attacks. Unfortunately, it's likely going to be stymied on both those fronts by the sorry state of the Canadian cannabis market, which is flooded with cheap marijuana that's putting a crimp on margins. and The combination is expected to unlock significant shareholder value. Covid-19 related lockdowns have presented unique challenges across Canadian and German markets, Simon said in a statement. Tilray shares were climbing 3% to $18.89, while Aphria was off slightly to $15.38 in premarket trading. Investors and security holders of Tilray will be able to obtain a free copy of the proxy statement, as well as other relevant filings containing information about Tilray and the proposed transaction, including materials that will be incorporated by reference into the proxy statement, without charge, at the SECs website (www.sec.gov) or from Tilray by contacting Tilrays Investor Relations at (203) 682-8253, by email at Raphael.Gross@icrinc.com, or by going to Tilrays Investor Relations page on its website at https://ir.tilray.com/investor-relations and clicking on the link titled Financials.. Interestingly enough, based on these terms, APHA stock is trading at a discount. Forward-looking statements involve significant known and unknown risks and uncertainties. The firm is primarily known for regulation and transaction work, but also provides expertise in corporate and securities, vendor contracts, employment law . To ensure the most secure and best overall experience on our website, we recommend the latest versions of, Irwin D. Simon, Chairman and Chief Executive Officer, Denise Faltischek, Head of International and Chief Strategy Officer, Jared Simon, President, Manitoba Harvest and Tilray Wellness, Rita Seguin, Chief Human Resources Officer, Dara Redler, Interim Chief Legal Officer and Corporate Secretary, Berrin Noorata, Chief Corporate Affairs Officer, Lloyd Brathwaite, Chief Information Officer, Freddy Bensch, Chief Executive Officer, SweetWater, Renah Persofsky, ICD.D, Vice-Chair (Lead Director) and Chair of the Nominating and Governance Committee, Independent Director, Jodi Butts, Nominating & Governance Committee Member, Independent Director, David Clanachan, Newly Appointed Independent Director, John M. Herhalt Chair of the Audit Committee, Independent Director, David Hopkinson, Nominating and Governance Committee & Compensation Committee Member, Independent Director, Brendan Kennedy, Current Director and Former CEO, Tilray, Tom Looney, Audit Committee & Compensation Committee Member, Independent Director, Walter Robb, Chair of the Compensation Committee & Audit Committee Member, Independent Director. The Combined Company plans to capitalize on opportunities for growth through a broadened product offering and additional form factors, with the aim of increasing adult-use cannabis brand availability across certain Canadian provinces to an expanded customer base with the Combined Companys scalable infrastructure. Upon completion of the Arrangement, Aphrias current Chairman and Chief Executive Officer, Irwin D. Simon, will lead the Combined Company as Chairman and Chief Executive Officer. The companies are . 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. This is an exciting day for both companies including our 2,500 employees, for the cannabis industry, and for patients and consumers around the world. However, there was an arbitrage opportunity before the merger. She is based in New York. Of course, the timing of this rally coincides with the presidential election. The merger was announced on December 16, 2020 and I assume they're still looking to merge as the deal makes a lot of sense in terms of market share and cost synergies. THCX, Tilray Brands Inc current PE Ratio (TTM) is 0. 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/. , which was one of the first platforms for public offerings during the 1990s. 437-343-4000, Investors Stock Market 101 ; Types of Stocks ; Stock Market Sectors ; Premium Services The forward-looking statements are expressly qualified by this cautionary statement. Electric-vehicle tax credit: See which EVs qualify on updated list, She's a self-taught real estate investor turned millionaire, If King Dollar is wobbling, this asset is your best investment, says Citi, Mark Zuckerbergs total 2022 pay rose because of the increased use of private aircraft. Copyright Information regarding the persons who may, under SEC rules, be deemed participants in the solicitation of proxies to Tilray stockholders in connection with the proposed transaction will be set forth in the Tilray proxy statement for the proposed transaction when available. There is a risk that some or all the expected benefits of the Arrangement may fail to materialize or may not occur within the time periods anticipated by Aphria and Tilray. 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 Tilray/Aphria merger must be at risk of falling apart. 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. Aphria will also have seven directors and Tilray will have two. Here's why. Tilray Brands Inc. is acquiring rival Canadian cannabis producer Hexo Corp. in a deal worth about US$229 million on Monday in its latest move to strengthen its position as the leading legal marijuana company in Canada. 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. I look forward to leading the talented teams of both Aphria and Tilray as we seek to create a leading global cannabis and consumer packaged goods company with a portfolio of medical, wellness and adult-use brands consumers love., Mr. Kennedy, Tilrays Chief Executive Officer, commented, We are thrilled to bring together two cannabis industry leaders. We are bringing together two world-class companies that share a culture of innovation, brand development and cultivation to enhance our Canadian, U.S., and international scale as we pursue opportunities for accelerated growth with the strength and flexibility of our balance sheet and access to capital, said Mr. Simon. However, shares have a weak 26 . The trouble is, when it announced in late 2020 its planned merger with Aphria, another major Canadian cannabis business, the pair controlled a total of 17% of the market at the time. Enhanced Consumer Packaged Goods Presence and Infrastructure in the U.S. The combined company will boast $685 million in annual revenue, m Under the terms of the Arrangement, the shareholders of Aphria (the "Aphria Shareholders") will receive 0.8381 shares (the "Exchange Ratio") of Tilray for each Aphria common share (each . Enhances Consumer Packaged Goods Presence and Infrastructure in the U.S.: In the United States, the Combined Company will have a strong consumer packaged goods presence and infrastructure with two strategic pillars, including SweetWater, a cannabis lifestyle branded craft brewer, and Manitoba Harvest, a pioneer in branded hemp, CBD and wellness products with access to 17,000 stores in North America. Even Amazon has supported the federal legalization of marijuana. Copyright 2023 Market Realist. The combination of Aphria and Tilray brings together two highly complementary businesses to create the leading cannabis-focused CPG company with the largest global geographic footprint in the industry. The market may be able to move higher in the near to mid-term, but without profits, that move will be capped, possibly by the 150-day EMA. Meanwhile, oldmaninvestor has pointed out that Aphria stock should be trading at $56.82 based on that ratio, more than twice what the stock is currently trading at. All rights reserved. Forward-looking statements are provided for the purpose of presenting information about managements current expectations and plans relating to the future, and readers are cautioned that such statements may not be appropriate for other purposes. In a press release, Tilray said that the combined entity had proforma revenue of $685 million in the last year. Certain material factors or assumptions were used in drawing the conclusions contained in the forward-looking statements throughout this communication. 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.. Das Papier von Tilray (ex Aphria) konnte zuletzt klettern und stieg im Tradegate-Handel um 1,1 . , See now:U.S. cannabis producers are now favored by Wall Street analysts, whove soured on Canadian companies. While it could still become the most important marijuana business internationally in due time, reaching that goal is a plan that's in progress at the moment. Value-priced products tend to have lower margins than premium-priced products, because with premium products there's far more room for marking up prices based on relatively inexpensive features like trendy branding. Each of Aphrias and Tilrays respective directors and officers and certain principal Tilray Stockholders have entered into voting support agreements agreeing to vote their Aphria Shares or Tilray Shares, as applicable, in favor of the resolutions put before them pursuant to the Agreement. Focusing on untapped opportunities and backed by the latest technologies, Aphria Inc. is committed to bringing breakthrough innovation to the global cannabis market. https . 203-682-8253 Next, the economics of the deal are more . In Portugal, Tilrays EU-GMP cultivation and production facility will provide the Combined Company with the capacity to cultivate and produce medical cannabis products in order to meet international demand and has export capabilities, which provides tariff-free access to the EU. First of all, the companys CEO and chairman, Irwin Simon, will remain at the helm. Nothing short of a trainwreck and I have been sounding the alarms since they admittedly cooked the books with the Aphria merger (see the actual admission in Michael Bowen on LinkedIn: Tilray discloses $1.2B quarterly loss, plan to buy cannabis rival Hexo for See definition in Aphrias Q1 2021 Management Discussion & Analysis.3 Annualized September 2020 retail sales of C$256 million based on Statistics CanadaNovember 2020 release4 Based on Stifel analyst report by Andrew Carter, dated December 6, 2020, December 2020 Headset Canada Review. View the full release here: https://www.businesswire.com/news/home/20201216005519/en/. The transaction was structured as a reverse acquisition, where Aphria acquired Tilray. An early warning report in respect of the Companys acquisition of all of the outstanding Aphria Shares pursuant to the transaction will be filed on SEDAR and will be available under Aphrias issuer profile at www.sedar.com., Irwin D. Simon, the Companys Chairman and Chief Executive Officer, commented, Our focus now turns to execution on our highest return priorities including business integration and accelerating our global growth strategy. Aphria and Tilray each believe the business combination pursuant to the Arrangement will provide the following financial and strategic benefits, among others: Financial Strength and Flexibility:The Combined Company will enjoy an attractive financial profile with pro forma revenue of C$874 million (US$685 million) for the last twelve months reported by each company, the highest in the global cannabis industry. With the Biden administration in the White House, the prospects look more encouraging for fewer regulations on the cannabis industry. After Aphria and Tilray merge, the combined entity will be called Tilray and the shares will continue to trade on Nasdaq under the ticker TLRY. 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. That also suggests cash might get tight in the future. 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 Combined Company also expects to pursue the opportunity to expand with new or existing CBD or other cannabinoid brands leveraging Manitoba Harvests strong hemp and wellness product platform. Jefferies LLC provided a fairness opinion to the Board of Directors of Aphria on December 15, 2020, stating that, as of the date of such opinion and based upon the scope of review and subject to the assumptions, limitations and qualifications stated in such opinion, the Exchange Ratio is fair, from a financial point of view, to the Aphria Shareholders. The Motley Fool has a disclosure policy. The merger had got delayed due to the delay in approval from Tilray shareholders. has gained 11.7%. Chief Corporate Affairs Officertamara.macgregor@aphria.com Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. We believe that the Company has the strategic footprint and operational scale necessary to compete more effectively in todays consolidating cannabis market with a strong, flexible balance sheet, strong cash balance, and access to capital, which we believe will give the Company the ability to accelerate growth and deliver long-term sustainable value for stockholders. This is why Aphrias merger with Tilray is so critical. Aphria stock jumped to 8.65 soon after the open, but closed down 0.9% to 8.05 on the stock market today.Tilray jumped 19% to 9.33. Positions Combined Company to Continue to Grow in the Beverage Segment: The Combined Company believes it will be well-positioned to pursue an accelerated rate of growth in the Canadian and the U.S. beverage industries by leveraging SweetWaters innovation, knowledge, and expertise to introduce adult-use cannabis brands via craft beers and other beverages. Focusing on maximizing revenue and growth in the profitable core business. There can be no assurance as to when these conditions will be satisfied or waived, if at all, or that other events will not intervene to delay or result in the failure to complete the Arrangement. Now that the Aphria/Tilray merger has been announced, we can expect other top-tier Canadian pot stocks, like Canopy Growth Corp (NASDAQ:CGC) and Aurora Cannabis Inc (NYSE:ACB), to begin to see . There is also a razor-thin majority in the Senate. Next, the economics of the deal are more favorable for APHA stock. 2 2021, Published 8:51 a.m. In the United States, the Combined Company will have a strong consumer packaged goods presence and infrastructure with two strategic pillars, including SweetWater Brewing Company (SweetWater), a cannabis lifestyle branded craft brewer, and Manitoba Harvest, a leading hemp food manufacturer and a pioneer in branded CBD and wellness products. The Motley Fool recommends Hexo Corp. Shareholders of cannabis company Tilray Inc. voted in favour of a proposed merger with rival Aphria Inc. on Friday, in a transaction that will pave the way for the creation of the world's . Tilrays new leadership team and board of directors will provide a strong foundation for the Company to accelerate growth and capitalize on the business combinations many benefits. Canadian cannabis companies Tilray Inc. and Aphria Inc. announced the closing of their merger on Monday, creating the worlds biggest weed company measured by revenue. Tilray will acquire Hexo by paying US$56 million in an all-stock deal to acquire the remaining outstanding shares it doesn't own after it will exercise the US$173 million . And with conditions making an investment so risky, it's probably best to steer clear for now. For more information on how we open a world of wellbeing, visit Tilray.com. When it does exist, it could become the world's biggest cannabis company eclipsing Canopy Growth by market cap.. Aphria is already close to Canopy on revenue, with $160 million in its most recent . Our business combination with Tilray aligns with our strategic focus and emphasis on our highest return priorities as we strive to generate value for all stakeholders., I am honored to work with Brendan Kennedy, a pioneer in the cannabis industry, and the Tilray team as they join forces with our talented employees at Aphria, continued Mr. Simon. The Arrangement is expected to close in the second quarter of calendar year 2021 following the receipt of such regulatory approvals, as well as court approval of the Arrangement. This process is automatic. Yet the terms of the deal look more advantageous to Aphria. Nothing short of a trainwreck and I have been sounding the alarms since they admittedly cooked the books with the Aphria merger (see the actual admission in the press release and call). The combined company had a market cap of approximately US$8.2 billion based on the closing stock prices on April 30, 2021. Forward-looking statements reflect current beliefs of management of Aphria and Tilray with respect to future events and are based on information currently available to each respective management including based on reasonable assumptions, estimates, internal and external analysis and opinions of management of Aphria and Tilray 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. Shareholder value was one of the stocks mentioned rally coincides with the presidential election the first platforms public. 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