Green Growth Brands Says Made Formal Offer To Aphria

(RTTNews) - Green Growth Brands Inc. announced that it has filed its Offer to Purchase and Circular and related documents with the applicable securities regulatory authorities in Canada and the United States and will formally commence its offer to acquire all of the issued and outstanding common shares of Aphria Inc. (APHA) on Wednesday, January 23, 2019. The Offer provides Aphria shareholders with 1.5714 common shares of Green Growth for each Aphria Share.

The Green Growth Brands noted that the formal offer will commence on January 23, 2019 and will remain open until 5:00 p.m. (Toronto time) on May 9, 2019.

The company also announced that it has entered into a commitment letter with All Js Greenspace LLC, pursuant to which the Investor has agreed to subscribe for and purchase up to C$150 million of Green Growth shares as a backstop to the Company's previously announced intention to complete a C$300 million equity financing in connection with the completion of the Offer.

Green Growth is also announcing the formal appointment of Peter Horvath, current Chief Executive Officer of Green Growth Brands LLC, the Company's operating subsidiary, as Chief Executive Officer of the Company.