Tilray Inc. and Aphria Inc. say their merger deal has now closed after receiving approval from shareholders of both companies.

Tilray shareholders voted Friday in favour of issuing stock to Aphria91ÂãÁÄÊÓƵ™s shareholders, but the Nanaimo, B.C.-based company has yet to reveal how many supported the proposal.

About 99 per cent of Aphria shareholders voted in favour of the deal in April.

The two cannabis companies announced in December that they will merge under the Tilray name with Aphria CEO Irwin Simon at the helm and Tilray CEO Brendan Kennedy joining the board.

The new company is expected to have a pro forma revenue of $874 million and will control more than 17 per cent of the retail cannabis market 91ÂãÁÄÊÓƵ” the largest share held by any Canadian licensed producer.

While Tilray shareholders at Friday91ÂãÁÄÊÓƵ™s meeting supported the Aphria deal, they voted against increasing the company91ÂãÁÄÊÓƵ™s authorized capital stock from more than 743 million shares to 900 million shares.

READ MORE:

The Canadian Press

Like us on and follow us on .