Green Growth Brands Doubles Down on Acquiring Aphria

Green Growth Brands

Last week, Green Growth Brands Inc (CSE: GGB) announced that it was initiating a hostile takeover of Aphria (NYSE: APHA)(CSE: APHA), offering significant premiums over current share prices in an effort to win over frustrated shareholders discontent over how the firm’s been handling accusations from short-sellers. While Aphria leadership dismissed the takeover attempt as being an inadequate offer at best, this hasn’t dissuaded GGB from doubling down on their efforts.

In a new press release, the GGB goes on to say that they welcome early expressions of interest from shareholders who see Aphria as a “failed investment.” It went on to describe Aphria as a floundering company in light of these accusations, adding that the firm lacks any “compelling future plans for the company.”

Since we announced our intention to launch the takeover of Aphria we have seen two things. First, Aphria shareholders are welcoming a 45%+ premium offer because they understand the significant value that can be unleashed by our combined teams, assets, and geographies. Second, a real interest in the market to understand Green Growth and our valuation,” said GGB Peter Horvath. “When investors consider our trailing revenue, recent license wins in Nevada, and a buildout in the new market of Massachusetts they agree that it is not a question of if Green Grown reaches C$7.00 per share, but when. We understand that there are some in the market who want to focus on destroying value at Aphria, but we are committed to creating it.”

GGB went on to add that a merger between the two entities would expose Aphria shareholders to a much larger U.S. market with significantly improved sales potential going forward. When coupled with Aphra’s existing cultivation facilities in Canada, GGB feels that a merger would create more future value for the firms than the mere sum of their parts.

Hindenburg Research, a forensic analysis firm that co-authored a scathing report over Aphria’s LATAM assets alongside Quintessential Capital Management (QCM), tweeted on Friday that Aphria insiders had invested into GGB months ahead of this announced takeover. “We view this $APHA offer as non-credible and likely an attempt to generate the appearance of demand in the hopes of spurring credible offer,” added Hindenburg in another tweet.

Aphria’s share price tumbled today, falling 9.1 percent on the NYSE closing at 5.69 USD, well below the $11-per-share offered by GGB.

Green Growth Brands Company Profile

Green Growth brands expects to dominate the cannabis and CBD market with a portfolio of emotion-driven brands that people love. Led by renowned retailer Peter Horvath, the GGB team is full of retail renegades with decades of experience building successful brands. –Green Growth Brands

Aphria Inc Company Profile

Aphria is a leading global cannabis company driven by an unrelenting commitment to our people, product quality and innovation. Headquartered in Leamington, Ontario – the greenhouse capital of Canada – Aphria has been setting the standard for the low-cost production of safe, clean and pure pharmaceutical-grade cannabis at scale, grown in the most natural conditions possible. Focusing on untapped opportunities and backed by the latest technologies, Aphria is committed to bringing breakthrough innovation to the global cannabis market. The Company’s portfolio of brands is grounded in expertly-researched consumer insights designed to meet the needs of every consumer segment. Rooted in our founders’ multi-generational expertise in commercial agriculture, Aphria drives sustainable long-term shareholder value through a diversified approach to innovation, strategic partnerships and global expansion, with a presence in more than 10 countries across 5 continents.  –Aphria