Green Growth Brands Inc. (GGBXF) announced that it has filed its Offer to Purchase and Circular and related documents with the applicable securities regulatory authorities in Canada and the United States and will formally commence its offer to acquire all of the issued and outstanding common shares of Aphria Inc.(APHA) on Wednesday, January 23, 2019.

The company also announced that it has entered into a commitment letter with All Js Greenspace LLC, pursuant to which the Investor has agreed, subject to the terms and conditions set forth in the Commitment Letter, to subscribe for and purchase up to $150M of Green Growth shares as a backstop to the company's previously announced intention to complete a $300M equity financing in connection with the completion of the Offer.

The Offer provides Aphria shareholders with 1.5714 common shares of Green Growth for each Aphria Share, including Aphria Shares that may become issued and outstanding after the date hereof but prior to 5:00 p.m. Toronto time on May 9, 2019 upon the exercise, conversion or exchange of any securities of Aphria that are exercisable for, convertible into or exchangeable for Aphria Shares.