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

Dan Joseph shared a sunset picture looking out over the Fraser River. What does the sunset look like for you today (Mother’s Day). (Special to The News)
SHARE: What does the sunset look like for you tonight?

Send us your photo showing how you view Maple Ridge or Pitt Meadows, and it could be featured soon

Hikaru Ozduman won Outstanding Effort at the 33rd annual British Columbia Japanese Speech Contest. (SD42/Special to The News)
Maple Ridge student earns award for speech – in Japanese

The 33rd annual British Columbia Japanese Speech Contest was held virtually in March

Have an opinion you’d like to share? Submit letters to the editor through our website, via email or the postal service. (Heather Colpitts/Black Press Media)
LETTER: Maple Ridge man suggests those who flout COVID rules forego taxpayer health-care

People following rules to help end pandemic frustrated by those who don’t, letter writer says

Ken Nunes is one of hundreds who venture out onto Alouette Lake in Golden Ears Provincial Park when the sun comes out. “Here’s how I see Maple Ridge,” he said. (Special to The News)
SHARE: Nice weather draws people to the water

Send us your photo showing how you view Maple Ridge or Pitt Meadows, and it could be featured soon

Police tape is shown in Toronto Tuesday, May 2, 2017. Statistics Canada says the country's crime rate ticked up again in 2018, for a fourth year in a row, though it was still lower than it was a decade ago. THE CANADIAN PRESS/Graeme Roy
CRIME STOPPERS: ‘Most wanted’ for the week of May 9

Crime Stoppers’ weekly list based on information provided by police investigators

(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’

RCMP are looking for information on an alleged shooting attempt near an elementary school in Smithers March 10. (Phil McLachlan/Capital News/Stock)
UPDATE: Man killed in brazen daylight shooting at Vancouver airport

Details about the police incident are still unknown

Pieces of nephrite jade are shown at a mine site in northwestern B.C. in July 2019. THE CANADIAN PRESS/HO-Tahltan Central Government MANDATORY CREDIT
Indigenous nation opposes jade mining in northwestern B.C.

B.C.’s Mines Act requires operators to prepare a plan to protect cultural heritage resources

Vancouver Giants celebrated a Justin Sourdif goal Saturday night in Kamloops. Giants dropped a 3-1 decision to Kamloops, a game that clinched the 2020-21 B.C. Division banner for the Blazers. (Allen Douglas/special to Langley Advance Times)
VIDEO: Vancouver Giants drop 3-1 decision to Kamloops

Third-period rally should have come sooner, said coach of Langley-based team

Cannabis bought in British Columbia (Ashley Wadhwani/Black Press Media)
Is it time to start thinking about greener ways to package cannabis?

Packaging suppliers are still figuring eco-friendly and affordable packaging options that fit the mandates of Cannabis Regulations

Police tape is shown in Toronto Tuesday, May 2, 2017. Statistics Canada says the country’s crime rate ticked up again in 2018, for a fourth year in a row, though it was still lower than it was a decade ago. THE CANADIAN PRESS/Graeme Roy
IHIT investigating after man killed in Burnaby shooting

Police looking for more information on fatal shooting

After Bobby Henderson apologized online for his comments to a Toronto reporter, the Langley Rivermen announced that he was no longer team coach and general manager and in fact, had ‘parted ways’ with the franchise in March. (file/Twitter)
Former Langley Rivermen coach and GM apologizes for comments to Toronto reporter

Bobby Henderson blames stress due to the pandemic for his ‘disparaging’ remarks

The body of Brenda Ware, 35, was found along Highway 93 in Kootenay National Park on Thursday, May 6, 2021. (RCMP handout)
RCMP ask for tips after woman’s body found in Kootenay National Park

Brenda Ware was found along Highway 93 in the park, 54 kilometres north of the town of Radium

Most Read