Aphria shareholders give green light to merger with Tilray
Tilray's shareholders are set to cast ballots on Friday
Aphria Inc. shareholders have voted in favour of the cannabis company's plan to merge with Tilray Inc.
Leamington, Ont.-based Aphria did not immediately announce how many shareholders voted in favour of the deal, but said more than 65,000 shareholders and proxy voters were represented at the meeting.
The vote follows Aphria and Nanaimo, B.C.-based Tilray's December merger announcement.
If the deal moves forward, the two will operate under the Tilray name with Aphria chief executive Irwin Simon at the helm.
The new company will 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.
Tilray has scheduled a shareholder vote on the deal for Friday.