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BRIEF-Green Growth Brands Announces Intention To Launch Takeover Bid For Aphria

Published 2018-12-27, 06:06 p/m
© Reuters.  BRIEF-Green Growth Brands Announces Intention To Launch Takeover Bid For Aphria
GGB
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Dec 27 (Reuters) - Green Growth Brands GGB.CD :

* GREEN GROWTH BRANDS ANNOUNCES INTENTION TO LAUNCH TAKEOVER BID FOR APHRIA INC.

* GREEN GROWTH BRANDS- OFFER VALUED AT C$11.00 PER APHRIA SHARE

* GREEN GROWTH BRANDS - OFFER VALUES APHRIA AT APPROXIMATELY C$2.8 BILLION

* GREEN GROWTH BRANDS- EXPECTS CERTAIN EXISTING SHAREHOLDERS TO COMMIT TO BACKSTOP C$300 MILLION FINANCING CONCURRENTLY WITH EXECUTING AGREEMENT WITH APHRIA

* GREEN GROWTH BRANDS - ENGAGED APHRIA'S BOARD TO ATTEMPT TO NEGOTIATE FRIENDLY BUSINESS COMBINATION

* GREEN GROWTH-EXPECTS TO COMPLETE CONCURRENT BROKERED FINANCING OF C$300 MILLION TO SHOW CONFIDENCE IN OFFER VALUE, FUND BUSINESS GROWTH OF COMBINED ENTITY

* GREEN GROWTH BRANDS- BELIEVES IT ALREADY HAS SUPPORT FOR OFFER FROM APHRIA SHAREHOLDERS HOLDING APPROXIMATELY 10% OF OUTSTANDING APHRIA SHARES

* GREEN GROWTH BRANDS - ENGAGED APHRIA'S BOARD TO NEGOTIATE A VERY SHORT EXCLUSIVITY PERIOD TO ALLOW BOTH PARTIES TO SERIOUSLY CONSIDER COMBINATION

* GREEN GROWTH BRANDS- EXPECTED THAT AFTER THE OFFERING, CO WILL CONTINUE TO BE LISTED ON CANADIAN SECURITIES EXCHANGE UNDER SYMBOL GGB

* GREEN GROWTH BRANDS - ENGAGED APHRIA'S BOARD TO NEGOTIATE A FULL GO-SHOP PROVISION IN FAVOR OF APHRIA

* GREEN GROWTH BRANDS - ENGAGED APHRIA'S BOARD TO NEGOTIATE PRESERVATION OF APHRIA'S MANAGEMENT & COMMITMENT TO BOARD REPRESENTATION AT COMBINED CO

* GREEN GROWTH BRANDS - WOULD INVEST C$50 MILLION IN EQUITY AT AN APHRIA PER SHARE VALUE OF C$11.00

* GREEN GROWTH - OFFER WILL PROVIDE APHRIA SHAREHOLDERS WITH 1.5714 COMMON SHARES OF GREEN GROWTH FOR EACH APHRIA SHARE

* GREEN GROWTH - EXPECTS OFFER, WHEN MADE, WILL REMAIN OPEN FOR ACCEPTANCE PERIOD OF AT LEAST 105 DAYS FROM DATE OF MAILING TAKE-OVER BID CIRCULAR

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