Brendan Kennedy, CEO and founder of British Columbia-based Tilray Inc., poses next to his company’s logo at Nasdaq where the company’s IPO (TLRY) opened, Thursday, July 19, 2018, in New York. THE CANADIAN PRESS/AP/Bebeto Matthews

Brendan Kennedy, CEO and founder of British Columbia-based Tilray Inc., poses next to his company’s logo at Nasdaq where the company’s IPO (TLRY) opened, Thursday, July 19, 2018, in New York. THE CANADIAN PRESS/AP/Bebeto Matthews

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

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

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

Tilray shareholders voted Friday in favour of issuing stock to Aphria’s shareholders, but the Nanaimo, B.C.-based company has yet to reveal how many supported the proposal.

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

The two cannabis companies announced in December that they will merge under the Tilray name with Aphria CEO Irwin Simon at the helm and Tilray CEO Brendan Kennedy joining the board.

The new company is expected to have a pro forma revenue of $874 million and will control more than 17 per cent of the retail cannabis market — the largest share held by any Canadian licensed producer.

While Tilray shareholders at Friday’s meeting supported the Aphria deal, they voted against increasing the company’s authorized capital stock from more than 743 million shares to 900 million shares.

READ MORE: Nanaimo’s Tilray makes Time Magazine’s list of 100 most influential companies

The Canadian Press


Like us on Facebook and follow us on Twitter.

cannabis

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

District of houston
Council dips into surplus for highway project

Costs have risen to place utility lines underground

“Skeena,” by John Hudson and Paul Hanslow is one of five fonts in the running to become the default for Microsoft systems and Office programs. (Black Press Media File Photo)
Font named after Skeena River could become the next Microsoft default

One of the five new fonts will replace Calibri, which has been Microsoft’s default since 2007

Accessibility improvements and more classrooms at the Houston Christian School should be completed by the new school year. (Houston Today photo)
Accessibility improvements coming to Houston Christian School

Construction package includes two classrooms

The soft opening of the nature centre at the Buck Creek CANFOR hatchery took place mid-April. (Angelique Houlihan photo/Houston Today)
Houston hatchery and nature centre’s upcoming events

The conservation group to host summer students this year

(The Canadian Press)
Trudeau won’t say whether Canada supports patent waiver for COVID-19 vaccines

‘Canada is at the table to help find a solution’

Edmonton Oilers’ Connor McDavid (97) celebrates his 100th point this season with Leon Draisaitl (29) against the Vancouver Canucks during second period NHL action in Edmonton on Saturday, May 8, 2021.THE CANADIAN PRESS/Jason Franson
Edmonton superstar McDavid hits 100-point mark as Oilers edge Canucks 4-3

NHL scoring leader needs just 53 games to reach century mark

Nuns of Mother Teresa’s Missionaries of Charity, carry some of her relics during a vigil of prayer in preparation for the canonization of Mother Teresa in the St. John in Latheran Basilica at the Vatican, Friday, Sept. 2, 2016. In which city did she do much of her charitable work? (AP Photo/Gregorio Borgia)
QUIZ: How much do you know about these motherhood issues?

In honour of Mother’s Day, take this 10-question quiz

A map showing where the most number of cases were recorded from April 23 to 29. This map, revealing a breakdown of infections by neighborhood, was pulled from a data package leaked to the Vancouver Sun last week (and independently verified).
36 Abbotsford schools flagged for COVID-19 exposures in the last 2 weeks, shattering record

Clearbrook Elementary recorded an ‘exposure’ on all 11 school days

Canada’s chief public health officer is reminding Canadians even those who are fully vaccinated are not immune from transmitting the COVID-19. THE CANADIAN PRESS/Adrian Wyld
Canada’s top doctor warns full vaccination does not equal full protection from COVID-19

Post-inoculation, Theresa Tam says the risk of asymptomatic infection and transmission is far lower but not obsolete

The dash cam footage, taken May 7 at 8:18 a.m. belonged to the driver of a southbound vehicle that recently travelled out of the tunnel. (Reddit/Screen grab)
VIDEO: Dash cam captures dramatic rollover crash on Highway 99

Only one person sustained injuries from the collision, says B.C. Ambulance Services

Chevy stranded on a ledge above a rocky canyon at Mimi Falls near Logan Lake, April 28, 2021. (Photo credit: Margot Wikjord)
Police officer and fire chief team up in risky rescue of stranded dog near Logan Lake

Chevy, a rescue dog, needed rescuing again after getting stuck on a ledge above rocky canyon

Police were on the scene of a fatal shooting in Abbotsford. (Black Press Media files)
B.C. government to give more than $8 million for programs to curb gang violence

221 not-for-profit projects led by local governments and school districts among others will receive a one-time grant

Most Read