LEAMINGTON, Ont. — Aphria Inc. has signed a deal to sell part of its stake in Liberty Health Sciences Inc. as it works to reduce its investments in the United States.
The company is selling 26.7 million Liberty shares at a price of $1.25 per share representing all its shares in the company that are not subject to Canadian Securities Exchange escrow requirements.
Individual members of the Serruya family are buying 80 percent of the shares, while Delavaco Capital is buying the remaining 20 percent.
The transaction also includes an option agreement for the remainder of the company’s shares, which are currently subject to the CSE mandatory escrow requirements.
After the initial transaction, Aphria will have a 28.1 percent stake in Liberty.
In addition, Aphria chief executive Vic Neufeld will remain, chairman of the Liberty board and John Cervini, Aphria’s vice-president, infrastructure and technology will remain a director.
Companies in this story: (TSX:APH)
The Canadian Press