Cooley LLP advised Tilray on the deal.
Tilray – a global pioneer in cannabis research, cultivation, production and distribution – announced its agreement to combine with Aphria. The combined company, which will operate as Tilray and trade its shares on the Nasdaq Global Select Market under the symbol “TLRY,” will be the world’s largest cannabis company based on the pro forma revenue of $685 million.
Supported by low-cost, state-of-the-art cultivation, processing and manufacturing facilities, the company will have a complete portfolio of branded cannabis 2.0 products in Canada and will be well positioned to pursue growth opportunities with Aphria’s medical cannabis and distribution footprint in Germany and Tilray’s cannabis production facility in Portugal, which has export capabilities and tariff-free access to the European Union to meet increasing global demand for medical cannabis.
In the US, Tilray will have a strong consumer packaged goods presence and infrastructure with two strategic pillars, including SweetWater Brewing Company, a craft brewer with a cannabis slant, and Manitoba Harvest, a leading hemp food manufacturer and a pioneer in CBD and wellness products. The company is expected to have a strong, flexible balance sheet, cash balance and access to capital, giving it the ability to accelerate growth and deliver attractive returns for stockholders.
The Cooley team included Steve Tonsfeldt (Picture), Alan Hambelton, Rishab Kumar, Julia Stark, Justine Chiu, Natalie Vernon, Rodrigo Seira, Jeff Tolin, Joshua Friedman, Jacqueline Grise, Sharon Connaughton, Mischi A Marca, Timothy Nguyen, Tijana Brien and Janelle Fernandes.
Involved fees earner: Mischi a Marca – Cooley LLP; Tijana Brien – Cooley LLP; Justine Chiu – Cooley LLP; Sharon Connaughton – Cooley LLP; Janelle Fernandes – Cooley LLP; Joshua Friedman – Cooley LLP; Jacqueline Grise – Cooley LLP; Alan Hambelton – Cooley LLP; Rishab Kumar – Cooley LLP; Timothy Nguyen – Cooley LLP; Rodrigo Seira – Cooley LLP; Julia Stark – Cooley LLP; Jeffrey Tolin – Cooley LLP; Steve Tonsfeldt – Cooley LLP; Natalie Vernon – Cooley LLP;
Law Firms: Cooley LLP;
Clients: Tilray Inc.;