In the event of federal permissibility, the Company expects to be well-positioned to compete in the U.S. cannabis market given its existing strong brands and distribution system in addition to its track record of growth in consumer-packaged goods and cannabis products. On Stocktwits, a user named tyler3535 has argued that Tilray would have to lose half of its value based on the merger ratio. The Combined Company, supported by low-cost, state-of-the-art cultivation, processing, and manufacturing facilities, will have a complete portfolio of branded Cannabis 2.0 products in Canada. Factors that may cause such differences include, but are not limited to, risks assumptions and expectations described in Aphrias and Tilrays critical accounting policies and estimates; the adoption and impact of certain accounting pronouncements; Aphrias and Tilrays future financial and operating performance; the competitive and business strategies of Aphria and Tilray ; the intention to grow the business, operations and potential activities of Aphria and Tilray; the ability of Aphria and Tilray to complete the Arrangement; Aphrias and Tilrays ability to provide a return on investment; Aphrias and Tilrays ability to maintain a strong financial position and manage costs, the ability of Aphria and Tilray to maximize the utilization of their existing assets and investments and that the completion of the Arrangement is subject to the satisfaction or waiver of a number of conditions as set forth in the Arrangement Agreement. Copies of these documents may be obtained, free of charge, from the SEC or Tilray as described in the preceding paragraph. However, the company lowered the quorum requirement for the shareholder meeting and it was eventually approved overwhelmingly towards the end of April. Assuming regulators agree to the deal, Tilray will have its work cut out after it closes its bolt-on acquisition. However, as seen in the last election, more states are moving towards legalization. Operational Efficiencies Expected to Generate Approximately US$81 Million Annual Pre-Tax Cost-Saving Synergies for New Tilray Within Eighteen Months, Irwin D. Simon, Aphrias Chairman and CEO, will Lead the New Tilray and Has Appointed New Executive Leadership Team; New Members of the Board of Directors Also Appointed, New Tilray Poised to Transform the Global Cannabis Industry as a Consumer Packaged Goods Powerhouse with a Diversified Portfolio of Leading Brands, Renewed Financial Strength to Drive Accelerated Growth Strategy and Sustained Profitability, Tilrays Shares Will Continue Trading on the NASDAQ Under Symbol TLRY; Starting May 5, 2021, Tilrays Shares Will Commence Trading on the Toronto Stock Exchange Under Symbol TLRY. He is also the founder ofWebIPO, which was one of the first platforms for public offerings during the 1990s. The new entity will be the clear leader in the Canada market, which has continued to see strong growth. Die Aktie von Tilray (ex Aphria) zhlt am Dienstagvormittag zu den bestplatzierten des Tages. The news comes one business day after shareholders of the previous version of Tilray voted in favor of the deal. 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. Even with the growth opportunities of the cannabis market, there is something else needed for a successful company: scale. 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. Cost basis and return based on previous market day close. 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 sur LinkedIn : Tilray discloses $1.2B quarterly loss, plan to buy cannabis rival Hexo for The Combined Company will be the largest global cannabis company based on pro forma revenue for the last twelve months reported by each company with scale and breadth across major geographies and a complete portfolio of market leading brands in the major Cannabis 2.0 product categories. Our focus now turns to execution on our highest return priorities including business integration and accelerating our global growth strategy. 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 Combined Company will be led by a best-in-class management team and board of directors, with strong track records in consumer-packaged goods and cannabis experience internationally. Tilray is a pioneer navigating toward the end of prohibition and built to deliver on the collective wellbeing of the Companys employees, consumers, patients, partners, and local communities. Cowen is serving as financial advisor and Cooley LLP and Blake, Cassels and Graydon LLP are acting as legal counsel to Tilray. The company will receive 0.8381 shares of Tilray and get about 62% of the ownership of the new entity. Although, assuming the deal does go through as seems reasonable then there could be a short-term increase in APHA stock. The forward-looking statements included in this communication are made as of the date of this communication and the Company does undertake any obligation to publicly update such forward-looking statements to reflect new information, subsequent events or otherwise unless required by applicable securities laws. Additional senior leadership positions at the Combined Company will be named at a later date. This was the case when Salesforce acquired Slack. Invest better with The Motley Fool. Aphria and Tilray use words such as forecast, future, should, could, enable, potential, contemplate, believe, anticipate, estimate, plan, expect, intend, may, project, will, would and the negative of these terms or similar expressions to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Tilrays mission is to be the trusted partner for its patients and consumers by providing them with a cultivated experience and health and wellbeing through high-quality, differentiated brands and innovative products. Substantial Synergies: The combination of Aphria and Tilray is expected to deliver approximately C$100 million of annual pre-tax cost synergies within 24 months of the completion of the transaction. All rights reserved. Tilray and Aphria and certain of their respective directors, executive officers and employees may be deemed to be participants in the solicitation of Tilray proxies in respect of the proposed transaction. Establishes an Unrivaled European Platform:The Combined Company will be well-positioned to pursue growth opportunities with its end-to-end EU-GMP supply chain and distribution, which includes Aphrias German medical cannabis distribution footprint and Tilrays 2.7 million square foot European EU-GMP low-cost cannabis cultivation and production facility in Portugal. Tilray, for its part, has already used this business development strategy to markedly increase its market share in Canada through the 2021 merger with Aphria, and then again with its latest . Tom Taulli (@ttaulli) is the author of various books on investing and technology, including Artificial Intelligence Basics, High-Profit IPO Strategies and All About Short Selling. Tilray is a Canadian producer that cultivates and sells medical and recreational cannabis. 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 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. All Rights Reserved. A telephone replay will be available approximately two hours after the call concludes through January 13, 2021. The reverse merger with Tilray will see Aphria shareholders get 0.8381 shares of Tilray for each Aphria share they own, while owning 62% of the combined company, which on a pro forma basis had . Tilray stock has fallen sharply from the peaks. Markets welcomed the news as . The service requires full JavaScript support in order to view this website. As for Tilray, it has a strong business in Portugal. The combined company had a market cap of approximately US$8.2 billion based on the closing stock prices on April 30, 2021. We as well onlynstock I'm in 40k on it now joke I'm since Aphria I have a good job and can hold long term but it is depressing some days Reply . Tilray shares But TLRY stock will likely fall once the merger goes through since it may take time for synergies to work. Some the products include Riff, Good Supply, B!ngo and Solei from Aphria as well as Grail, Dubon, Canaca and The Batch from Tilrary. Effective on closing, the senior management team and Board of Directors of the Company were reconstituted as follows: The new Tilray logo blends both Aphria and legacy Tilrays branding into a design that reflects the new Companys growing portfolio of brands across cannabis-lifestyle and wellness product categories, including medical, adult-use, hemp foods, and beverages. But for Tilray shareholders, the news is likely to be a mixed blessing at best, and it shouldn't necessarily tip anyone who is currently on the fence toward buying the stock. After Tilray's ( TLRY) shareholders voted in favor of the proposed merger Aphria ( APHA) last Friday, the two cannabis companies announced today the completion of the transaction. , which was one of the first platforms for public offerings during the 1990s. Aphria and Tilray executives will host a conference call and webcast with a supplemental presentation to discuss the strategic business combination today, December 16, 2020 at 8:30 a.m. Eastern Time. The challenge of coordinating previously independent businesses makes evaluating the business and future financial prospects of the Combined Company following the Arrangement difficult. 3 Stocks That Are Poised to Plunge. So shareholders are unlikely to be impressed by buying a smaller and weaker competitor that will dilute their shares, since the previous plan to buy a far more capable competitor didn't result in much in the form of returns. Your support ID is: 3409538128455382982. NEW YORK & LEAMINGTON, Ontario--(BUSINESS WIRE)--Tilray, Inc. (Tilray) and Aphria Inc. (Aphria) today announced the completion of the previously announced business combination, ushering in a new era in the global cannabis industry. The combined company will boast $685 million in annual revenue, m There will also be significant cost reductions. 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 . Generally, when a company decides to buy another at a premium, the acquiring company's stock price falls. Certain material factors or assumptions were used in drawing the conclusions contained in the forward-looking statements throughout this communication. 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 about $8.2 billion based on Friday's closing stock . 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. Tilary issued a press release on Monday urging shareholders to vote for the tie-up with Aphria. Prospects of the ownership of the new entity will be the clear leader in the last election more! Available approximately two hours after the call concludes through January 13, 2021 company following the Arrangement difficult version..., 2021 is a Canadian producer that cultivates and sells medical and recreational.... 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