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Aphria Inc. (TSX: APHA, NASDAQ: APHA) announced on April 29, 2021, the launch of its concentrates category under the Good Supply brand, introducing hash, wax, and kief products. Good Ol' Hash, a high potency solventless concentrate, is available in select Canadian markets with 35% THC. The Good Supply Wax features a potency level of 78% THC, while Kief is offered in popular strains Jean Guy and Sour Kush. This expansion aims to provide consumers with diverse cannabis consumption options and strengthen Good Supply’s position in the maturing Canadian concentrates market.
Aphria Inc. announced that its subsidiary, Broken Coast Cannabis, has launched a new high THC wax product made from premium B.C. flower. This entry into the concentrates category features popular strains like Stargazer, Muskmelon OG, and Up In The Sky. The wax, with THC levels exceeding 70%, utilizes Hydrocarbon Extraction to enhance the flavor profile of each cultivar. Available online and in select retail stores, Broken Coast's wax is part of a broader strategy to diversify its product offerings and cater to consumer preferences.
Aphria Inc. has expanded its portfolio by introducing Good Supply's THC 30:0 and Solei Plus+ high potency oils, enhancing its adult-use brand offerings. Available in select markets from April 2021, these oils feature the highest allowable cannabinoid content in Canada, with Good Supply's THC 30:0 providing a distillate-based option containing 30mg of THC per gram. Solei Plus+ offers two profiles: Balance (15mg CBD, 15mg THC) and Free (30mg CBD, 1mg THC), increasing its distillate-based offerings.
Aphria Inc. (TSX: APHA) announced that shareholders have overwhelmingly approved the arrangement to merge with Tilray, Inc. at a special meeting. A total of 99.38% of votes were in favor, with 108,409,367 shares represented, accounting for approximately 34.43% of all issued shares. Under the terms, each Aphria shareholder will receive 0.8381 Tilray shares for each Aphria share owned. The arrangement is subject to customary closing conditions, including court approval. Irwin D. Simon, CEO, emphasized the merger's potential to create a strong financial profile and enhance market positioning.
Aphria reported its financial results for Q3 FY2021, achieving its eighth consecutive quarter of positive adjusted EBITDA. The company generated net revenue of $153.6 million, a 6.4% increase year-over-year, but faced challenges from COVID-19 lockdowns, leading to a 4.3% decline compared to the previous quarter. Adjusted EBITDA rose to $12.7 million, while adjusted net income was a loss of $47.9 million. Aphria's strategic merger with Tilray aims to create a leading global cannabis entity, enhancing growth prospects. The company maintained strong cash reserves of $267.1 million.
Aphria Inc. (TSX: APHA) is set to release its third-quarter financial results for the period ending February 28, 2021, on April 12, 2021, before market opening. The company will host a conference call at 9:00 AM ET to discuss these results, which can be accessed via phone or a live webcast. Aphria operates globally, offering high-quality cannabis products and alcoholic beverages while focusing on improving consumer wellbeing. The results are eagerly awaited by investors and analysts alike.
Aphria and Tilray are set to hold special meetings on April 14 and April 16, 2021, to approve their proposed business combination. Aphria has received necessary regulatory approvals and an interim order from the Ontario Superior Court for the arrangement. The combined entity will become the world's largest cannabis company, projecting pro forma revenue of US$685 million. Both Boards recommend their shareholders vote ‘FOR’ the transaction. Expected cost synergies of US$78 million will enhance operational efficiency, while the combined company aims for growth in domestic and international markets.
Aphria and Tilray have launched a dedicated website for shareholders regarding their proposed business combination. Both companies have received necessary anti-trust clearances, with the transaction expected to close in Q2 2021. The merger will create the world's largest global cannabis company with a projected pro forma revenue of US$685 million. The combined entity aims to capture market opportunities in Canada and internationally, particularly in the medical cannabis sector. The merger is expected to deliver approximately US$78 million in annual pre-tax cost synergies within 24 months.
Aphria Inc. has appointed Denise Faltischek as Managing Director for its German operations, effective January 23, 2021. Faltischek, who has extensive experience in consumer packaged goods, will lead Aphria's day-to-day operations in Germany while continuing her role as Chief Strategy Officer. Aphria confirms it is on track to be the first licensed producer to cultivate medical cannabis in Germany, with the opening of its facility in Neumünster pending EU-GMP certification. The first harvest is expected in Q1 2021, positioning Aphria favorably in the European cannabis market.
