Benzinga | Apr 15, 2021 07:04AM EDT

Aphria Inc. Shareholders Approve Proposed Arrangement With Tilray, Inc.

Aphria Inc. ("Aphria") (TSX:APHA) (NASDAQ:APHA), a leading global cannabis-lifestyle consumer packaged goods company, today announced that its holders (the "Aphria Shareholders") of Aphria's common shares (the "Aphria Shares") at the special meeting of Aphria Shareholders (the "Meeting") approved the previously announced arrangement (the "Arrangement") under the Business Corporations Act (Ontario), pursuant to which, among other things, Tilray, Inc. ("Tilray") and following the Arrangement, the "Combined Company") will acquire all of the issued and outstanding Aphria Shares. Pursuant to the Arrangement, the Aphria Shareholders will receive 0.8381 (the "Exchange Ratio") of a Tilray share of class 2 common stock (the "Tilray Shares") for each Aphria Share held, while holders of Tilray Shares (the "Tilray Stockholders") will continue to hold their Tilray Shares with no adjustment to their holdings.