Aphria Buying Broken Coast Cannabis for $230M in Stock and Cash

Broken Coast operates an expanding indoor cannabis production facility on Vancouver Island.

Licensed marijuana producer Aphria Inc. has signed a deal to buy Broken Coast Cannabis Inc., a cannabis producer on Vancouver Island, in a transaction it valued at $230 million in cash and stock.

Under the agreement, Aphria will pay up to $10 million in cash with the remainder in shares based on a deemed price of $15.09 per share.

“Adding one of Canada’s most sought after premium brands represents a major triumph for Aphria and our shareholders and firmly establishes our position as a Canadian leader in premium indoor cannabis production,” said Aphria chief executive Vic Neufeld in a statement Monday.

– Read the entire article at CBC News.