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Nuuvera shareholders approve merger with Aphria

Medical cannabis producer Nuuvera Inc.'s shareholders approved the company's proposed merger with Aphria Inc. in a deal valued at C$826 million.

Nuuvera said a total of 60,129,430 shares, representing about 67.15% of its outstanding shares, were represented at the special meeting of the shareholders, and of the votes cast with respect to the arrangement a total of 60,073,288 shares were voted in favor, representing about 99.90% of the votes cast on the resolution.

The completion of the merger remains subject to other customary closing conditions, including the final order of the Ontario Superior Court of Justice, for which the company plans to apply on March 22.

After the completion of the deal, which is expected on or around March 23, Nuuvera will be de-listed from the TSX Venture Exchange and applications will be made for Nuuvera to cease to be a reporting issuer.