Canadian medical marijuana company Aphria Inc. (APHQF) announced that the shareholders of Nuuvera Inc. voted to approve a plan to allow Aphria to acquire all the shares not already owned. The original proposed plan was announced on January 29, 2018.
According to a statement, a total of 60,129,430 Nuuvera shares, representing approximately 67.15% of the outstanding Nuuvera shares, were represented in person or by proxy at the meeting. Of the votes cast with respect to the Arrangement, an aggregate of 60,073,288 Nuuvera shares were voted in favor of the Arrangement, representing approximately 99.90% of the votes cast on the resolution. In addition, an aggregate of 47,193,288 Nuuvera shares, representing approximately 99.88% of the votes cast on the resolution excluding such shareholders as are required to be excluded pursuant to MI 61-101, were voted in favor of the arrangement.
Nuuvera is a Canadian cannabis company that is currently working with partners in Germany, Israel, and Italy , and is exploring opportunities in several other countries, to develop commercial production and global distribution of medical grade cannabis in legalized markets. The company also owns the subsidiaries, ARA – Avanti and Avalon Pharmaceutical Inc. Nuuvera holds a Dealer License (GMP) and is currently in the final stages of the Health Canada review process to become a Licensed Producer of medical marijuana under the ACMPR, and has recently received its “letter to build” approval.
Aphria also announced that it has signed an exclusive supply agreement with an Argentinan based pharmaceutical import and distribution company, which is licensed to import, sell and distribute medical products and derivatives in Argentina. The importer is currently securing an import license for cannabis in Argentina. Financial terms and the name of the importer were not released.
“We are excited to enter the Argentinian market through this initial supply agreement,” said Vic Neufeld, CEO of Aphria. “We see tremendous potential for medical cannabis in several emerging markets in South America, including Argentina. As the leading low-cost supplier of high-quality medical cannabis, Aphria will continue to expand its global leadership through strategic investments, partnerships and exclusive agreements such as this one.”