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Medical cannabis producer Aphria completes merger with Nuuvera

Aphria Inc. completed its multimillion-dollar merger with fellow medical cannabis producer Nuuvera Inc.

The Ontario-based company paid 62 Canadian cents in cash and issued 0.3546 of an Aphria share for every stock of the target entity acquired.

Aphria had previously planned to pay 60 cents per share in cash to acquire Nuuvera.

At the time the deal was announced, Aphria said it would pay C$1 and issue 0.3546 of an Aphira share for every Nuuvera stock acquired, valuing the company at C$826 million.