Cannabis producer Tilray postpones shareholder vote on Aphria merger

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Canadian cannabis producer Tilray postponed a special shareholder meeting to vote on its proposed megamerger with Aphria.

The meeting, which was originally scheduled for Friday, will now be held two weeks later, on April 30.

Tilray offered little explanation for the last-minute postponement in a news release issued Thursday, except to say the delay will “(allow) Tilray stockholders additional time to vote on the business combination.”

Shareholders who have already cast votes do not need to vote again, Tilray said.

Separately on Thursday, Aphria announced that its shareholders approved the merger in a Wednesday vote.

The business combination was approved by 99.38% of votes cast, which represented roughly 34.43% of Aphria shares.

The plan to combine Aphria and Tilray was announced in December 2020.