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Aphria raises $225 million for expansions, possible acquisitionsAphria has entered into an agreement with Clarus Securities, on behalf of a syndicate of underwriters, pursuant to which the underwriters have agreed to purchase, on a “bought deal” basis, 18,987,400 common shares of the company at a price of C$11.85 per common share for aggregate gross proceeds to the company of C$225,000,690.
The company intends to use the net proceeds from the offering to finance its recently announced state-of-the-art Extraction Centre of Excellence in addition to its recently announced capacity increase at Aphria Diamond, as well as the construction of additional cannabis production facilities globally in both foreign and Canadian jurisdictions where cannabis is legally permitted as well evaluating strategic acquisitions and investments and other industry related transactions, and for general corporate purposes.
The offering is expected to close on or about June 28, 2018 and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the TSX Exchange.
Publication date: 6/7/2018
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