Alliance between Tilray and cannabis multinational Aphria

Dec 21, 2020
Tilray Inc., a company located at Biocant Park, reached an agreement with the cannabis multinational, Aphria inc, which acquired 62% of shares. This alliance is still pending approval by Tilray shareholders and is expected to be completed in the second quarter of 2021.

With this alliance, a new giant appears in cannabis industry, which has shown signs of great expansion. Both companies have production and operating licenses in several countries around the world, in the recreational, food and medical markets, and have agreed to merge their operations.

The agreement involves the acquisition of the issued shares and capital, creating an entity with a book value of about 4.8 billion Canadian dollars (about 3 billion euros), according to the statement and interviews with the leaders of Tilray and Aphria last Tuesday.

This combination of two innovative industry leaders is expected to allow the combined company to better meet the needs and demands of consumers and patients more effectively throughout the world. It is also expected that it will enable the company to benefit from emerging opportunities in the rapidly developing and expanding global cannabis market, which will position this company for sustained, long-term success.