LEAMINGTON, Ontario, June 06, 2018 (GLOBE NEWSWIRE) --
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES
Aphria Inc. (“Aphria” or the “Company”) (APH.TO) is pleased to announce that it has entered into an agreement with Clarus Securities Inc., on behalf of a syndicate of underwriters (collectively, the “Underwriters”), pursuant to which the Underwriters have agreed to purchase, on a “bought deal” basis, 18,987,400 Common Shares (the “Common Shares”) of the Company at a price of C$11.85 per Common Share (the “Offering Price”) for aggregate gross proceeds to the Company of C$225,000,690 (the “Offering”).
The Company has agreed to grant the Underwriters an over-allotment option to purchase up to an additional 2,848,110 Common Shares at the Offering Price, exercisable in whole or in part at any time for a period ending 30 days from the closing of the Offering. In the event the over-allotment option is exercised in full, the aggregate gross proceeds of the Offering will be C$258,750,794.
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 Common Shares will be offered by way of a short form prospectus to be filed in each of the provinces of Canada, other than the Province of Quebec, by way of a private placement in the United States, and in those jurisdictions outside of Canada and the United States which are agreed to by the Company and the Underwriters, where the Common Shares can be issued on a private placement basis, exempt from any prospectus, registration or other similar requirements.
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 (the “Exchange”)
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