LEAMINGTON, ON, April 25, 2019 /PRNewswire/ – Aphria Inc. (“Aphria” or the “Company“) (TSX: APHA) (NYSE: APHA) today announced that the previously announced take-over bid (the “Offer”) by Green Growth Brands Inc. (“GGB”) has failed to meet the statutory minimum tender condition and has now expired and is terminated. As previously announced on April 15, 2019, the Company entered into a definitive agreement with GGB to accelerate the expiry date of the Offer to April 25, 2019, as well as to terminate certain arrangements with GA Opportunities Corp. (“GAOC“) for consideration of $89.0 million payable on future dates as set out in the April 15th press release.
Irwin D. Simon, Aphria’s Chairman, and Interim Chief Executive Officer stated, “We are pleased to have this resolved in a favourable manner. We continue to move forward, creating long-term shareholder value by leveraging our production expansion, industrial-scale cultivation and automation, brand positioning and our strategic global expansion initiatives that, as mentioned before, will be additionally supported by the $89.0 million in proceeds from the transaction.”
The Offer is now expired and terminated and no longer open to any Aphria shareholder to tender their shares. Accordingly, GGB will not be taking up any securities that may have been tendered to the Offer. GGB will promptly return to the security holder any Aphria shares tendered and not withdrawn during the period from the commencement of the Offer up to the expiry time of the Offer.
We Have A Good Thing Growing
Aphria is a leading global cannabis company driven by an unrelenting commitment to our people, product quality and innovation. Headquartered in Leamington, Ontario – the greenhouse capital of Canada – Aphria has been setting the standard for the low-cost production of high-quality cannabis at scale, grown in the most natural conditions possible. Focusing on untapped opportunities and backed by the latest technologies, Aphria is committed to bringing breakthrough innovation to the global cannabis market. The Company’s portfolio of brands is grounded in expertly-researched consumer insights designed to meet the needs of every consumer segment. Rooted in our founders’ multi-generational expertise in commercial agriculture, Aphria drives sustainable long-term shareholder value through a diversified approach to innovation, strategic partnerships, and global expansion, with a presence in more than 10 countries across 5 continents.
For more information, visit: aphria.ca
Source: Aphria Inc.
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