So far, one of the biggest stories in the cannabis industry is related to the pending merger of Aphria Inc. (APHA.TO) (APHA).
Earlier this morning, Tilray filed a Schedule 14A with the United States Securities and Exchange Commission (SEC) after social media communications were posted on platforms like Twitter (TWTR) and LinkedIn. Tilray paid for the communications that were related to the Aphria merger.
In connection with the pending mega-merger, Aphria plans to file a management information circular while Tilray has already filed a proxy statement on Schedule 14A (which is subject to completion and may be amended). The Schedule 14A contains important information about the proposed transaction and we will monitor how the transaction advances in the near-term.
On top of these documents, the Canadian Licensed Producers (LPs) plan to file other relevant materials that are related to the proposed business combination with the applicable securities regulatory authorities. We expect regulators to approve the merger in the near future and this is a transaction that we are excited about.
In the near future, the Aphria management information circular as well as the Tilray proxy statement will be mailed to shareholders of both companies, respectively. These documents will also be available on each company’s respective SEDAR and EDGAR profiles and we are favorable on the visibility that is associated with the business combination.
Earlier this month, we highlighted Tilray after three separate shareholder lawsuits were filed against the company. At the time Tilray said the plaintiffs’ allegations lack merit and that it will not disclose additional filings or subsequent amendments. It looks like these lawsuits do not have much teeth and do not consider this to be a headwind for the closing of the business combination.
We will be closely following both Aphria and Tilray ahead of the closing of the business combination, please send an email to email@example.com with the subject “Aphria and Tilray’s Planned Business Combination” to be added to our distribution list.
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