Tilray Inc (NASDAQ: TLRY) Aphria Inc (NASDAQ: APHA) Announce the “New” Tilray| Green Stock News
Summary: Tilray, Inc. (Nasdaq: TLRY) and Aphria Inc. (APHA) today announced the completion of business combination, ushering in a new era in the global cannabis industry. The combined company, which will operate as Tilray, brings together two highly complementary businesses to create the leading cannabis-focused consumer packaged goods (company with the largest global geographic footprint in the industry. The combined company had a market cap of approximately US$8.2 billion. Irwin D. Simon, the Company’s Chairman and Chief Executive Officer, commented, “Our focus now turns to execution on our highest return priorities including business integration and accelerating our global growth strategy. 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. We expect that the business combination will provide, among others, the following financial and strategic benefits: World’s Largest Global Cannabis Company. The combination of Aphria and Tilray brings together two highly complementary businesses to create the leading cannabis-focused CPG company with the largest global geographic footprint in the industry. Strategic Footprint and Operational Scale. We believe that the Company has the strategic footprint and operational scale necessary to compete more effectively in today’s 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. Substantial Synergies. The Company expects to deliver approximately US$81 million (C$100 million) of annual pre-tax cost synergies within eighteen months and plans to achieve cost synergies in the key areas of cultivation and production, cannabis and product purchasing, sales, and marketing, and corporate expenses. About Tilray Tilray Inc. is a leading global cannabis-lifestyle and consumer packaged goods company with operations in Canada, the United States, Europe, Australia, and Latin America that is changing people's lives for the better – one person at a time – by inspiring and empowering the worldwide community to live their very best life by providing them with products that meet the needs of their mind, body, and soul and invoke a sense of wellbeing. For more information visit www.tilray.com Read the full press release: https://greenstocknews.com/news/nasda... Green Stock News is a 21st-century broadcast media company that enhances corporate access for public companies through the distribution of news, interviews, and original content across the web and through social media. Subscribe to our channel for Daily Green Stock News. Green Stock News for the New Green Economy. https://www.greenstocknews.com Visit us on @twitter @greenstocknews https://www.twitter.com/greenstocknews
