Green Growth Brands to Offer C$11 per Share in Stock for Aphria
Channel: RICH TV LIVE
Date: 27/12/2018

Green Growth Brands to Offer C$11 per Share in Stock for Aphria - DECEMBER 27, 2018 - RICH TV LIVE - 
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Green Growth Brands Announces Intention to Launch Takeover Bid for Aphria Inc.
Offer valued at C$11.00 per Aphria share
Significant and compelling 45.5% premium to Aphria’s closing price on December 24, 2018
C$300 million concurrent financing in Green Growth at C$7.00 per share
Creates the only large-scale operator to bridge U.S. and Canadian markets; no other Canadian LP operates at scale in both markets
COLUMBUS, Ohio, Dec. 27, 2018 (GLOBE NEWSWIRE) — Xanthic Biopharma Inc. doing business as Green Growth Brands Ltd. (“Green Growth”) (CSE: GGB) announced today that it currently intends to make an offer (the “Offer”) to purchase all of the issued and outstanding common shares (the “Aphria Shares”) of Aphria Inc. (“Aphria” or the “Company”) (TSX: APHA and NYSE: APHA) which it does not already own.

The Offer will provide Aphria shareholders with 1.5714 common shares of Green Growth (the “Green Growth Shares”) for each Aphria Share and represents premiums of 45.5% over Aphria’s closing price on the Toronto Stock Exchange (the “TSX”) on December 24, 2018 and 46.0% over Aphria’s volume weighted average price on the TSX for the last 10 trading days ended December 24, 2018. The Offer values Aphria at approximately C$2.8 billion (US$2.1 billion) based on a valuation of C$7.00 per share for Green Growth Shares.

We believe our offer will create value for both Aphria and Green Growth shareholders. We are confident that the significant premium we are offering and the opportunity to participate in the growth of a stronger, combined company are so compelling that we are taking our offer directly to Aphria’s shareholders.

Peter Horvath, CEO of Green Growth
Together, we can unleash synergies between our teams, assets and geographies, forming a combined enterprise that will accelerate our collective growth strategies in Canada, the U. S. and overseas.

Green Growth expects to complete a concurrent brokered financing of C$300 million, at a price per share of C$7.00, to both illustrate confidence in the value of the consideration under the Offer and to fund the business growth of the combined entity. Green Growth expects that certain of its existing shareholders will commit to backstop the C$300 million financing concurrently with the execution of a business combination agreement with Aphria or the take up of shares under the anticipated Offer.

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