Aphria completes US$350 million offering of convertible senior notes

Aphria Inc. (“Aphria”) completed an offering of 5.25% convertible senior notes due 2024 for gross proceeds of US$350 million (including the exercise of the over-allotment option) in a private placement to qualified institutional buyers pursuant to Rule 144A under the US Securities Act of 1933 and outside the United States to non-U.S. persons in compliance with Regulation S under the Act. Aphria intends to use the net proceeds from this offering to support its international expansion initiatives, for further acquisitions, and for general corporate purposes. Fasken acted as Canadian counsel to Aphria with a team that included Grant McGlaughlin, Bradley Freelan, Taisha Lewis and Florind Polo (corporate/securities), Christopher Steeves and Kathryn Walker (Tax), Ingrid VanderElst and Mark Vanderveken (Regulatory).