Leading Unbiased Proxy Advisory Corporations, ISS and Glass Lewis, Endorse Shareholders Vote FOR the Proposed Aphria and Tilray Small business Blend

NANAIMO, British Columbia–(Business WIRE)–Tilray, Inc. (NASDAQ: TLRY), a global pioneer in cannabis exploration, cultivation, creation, and distribution, currently declared both of those Institutional Shareholder Providers Inc. (“ISS”) and Glass Lewis and Co., LLC (“Glass Lewis”) have advisable that holders (the “Shareholders”) of Tilray prevalent shares (the “Shares”) vote FOR the proposals to entire the enterprise mixture among Aphria Inc. and Tilray (the “Transaction”). ISS and Glass Lewis are the world’s foremost independent proxy advisory companies that provide voting recommendations to institutional shareholders. Tilray Shareholders who held Shares as of the March 12, 2021 record day are suitable to vote individuals Shares at the April 16, 2021 Tilray exclusive conference. All Shareholders are encouraged to have their voices listened to in regard to this quite important matter about their investment in Tilray, no matter of the range of Shares held.

Favorable ISS and Glass Lewis Tips

In achieving its summary, ISS noted, in portion:

“The strategic rationale appears seem, as TLRY would be greater positioned to keep a robust money profile in contrast to the standalone scenario. The put together organization is envisioned to have a sturdy dollars place and really should be ready to mature much more profitably supplied improved scale, APHA’s beneficial modified EBITDA, and the possible cost synergies. In addition, the consideration indicates a top quality to TLRY shares’ trading variety prior to the announcement, and the equity variety of thing to consider lets shareholders to participate in the upside opportunity of the put together corporation. As such, assist for the proposed transaction is warranted.”

In reaching its summary, Glass Lewis pointed out, in component:

“We obtain the proposed merger is strategically and financially compelling and structured in a fair and sensible fashion for Tilray and its shareholders. The board appears to have adequately regarded the Company’s strategic possibilities in gentle of the quickly evolving current market and regulatory situations in the cannabis sector as well as increasing level of competition and rising consolidation in the sector. In light of the strategic compatibility of the respective firms in both North The us and the EU, we believe that the merger represents a distinctive option to develop a main cannabis enterprise with a sturdy CPG portfolio that is much better positioned to capitalize on emerging chances in the hashish market place about the earth. Combined, the providers stand to reward from increased operational and monetary scale, a much more diversified item and brand name portfolio, condition-of-the-art amenities and larger finish-to-close handle of the source chain, as perfectly as the opportunity to make incremental benefit from value savings and other synergies.”

Distinctive Meeting of Shareholders

The Tilray special conference of shareholders (the “Assembly”) will consider spot via are living audio webcast at www.virtualshareholdermeeting.com/TLRY2021SM on April 16, 2021, at 11:00 AM (Japanese time).

YOUR VOTE IS Essential – Make sure you VOTE Nowadays

The proxy voting deadline for phone and Online is

11:59 PM (Japanese time) on Thursday, April 15, 2021

The Tilray board of directors unanimously suggests that shareholders vote

“FOR” every of the proposals to be voted on at the Assembly.

How to Vote

Your vote is critical regardless of the quantity of Shares you possess. Registered and helpful Shareholders could vote employing the pursuing approaches:

• Internet: Go to www.proxyvote.com and enter the 16-digit manage selection printed on the sort of proxy or voting instruction variety to obtain the web site and adhere to the guidance on the display.

• Phone: Contact the toll-totally free phone quantity presented on the type of proxy or voting instruction form and adhere to the prompted voting instructions. You will require to enter the 16-digit manage range printed on the kind of proxy or voting instruction sort.

If you keep your Shares by way of a broker, investment dealer or other intermediary, please follow the guidelines on the voting instruction variety offered by these kinds of broker, financial investment vendor or other middleman to assure that your vote is counted at the Conference.

Shareholder Concerns

If you have questions or have to have a lot more information about the Transaction, you should get hold of Tilray’s shareholder communications advisor and proxy solicitation agent, Mackenzie Partners, Inc. by toll-free of charge at 1-800-322-2885 or by e-mail at [email protected].

About Tilray®

Tilray is a global pioneer in the investigate, cultivation, production, and distribution of hashish and cannabinoids, at this time serving tens of hundreds of sufferers and people in 17 nations around the world spanning five continents.

CAUTIONARY Note Relating to Ahead-Seeking STATEMENTS

Sure information in this conversation constitutes ahead-on the lookout data or forward-wanting statements (with each other, “forward-looking statements”) less than Canadian securities regulations and within the this means of Part 27A of the Securities Act of 1933, as amended, and Part 21E of the Securities Trade Act of 1934, as amended, which are intended to be covered by the safe and sound harbor created by these types of sections and other relevant guidelines. The ahead-seeking statements are expressly certified by this cautionary assertion. Forward-seeking statements are offered for the function of presenting information about management’s present expectations and programs relating to the long run, and audience are cautioned that this kind of statements could not be proper for other applications. Any data or statements that are contained in this conversation that are not statements of historic simple fact may well be deemed to be forward-hunting statements, together with, but not constrained to, statements in this communication with regards to: (i) statements relating to the strategic business enterprise combination of Aphria and Tilray and the predicted timing and closing of the Transaction the Transaction like, receipt of demanded shareholder approvals, courtroom approvals and gratification of other closing customary problems (ii) estimates of pro-forma money information and facts of the Combined Company, including in regard of envisioned revenues and production of hashish (iii) the anticipated strategic and monetary positive aspects of the organization mixture, like estimates of foreseeable future price reductions, synergies, such as envisioned pre-tax synergies, cost savings and efficiencies (iv) statements that the Combined Organization anticipates obtaining scalable medical and adult-use hashish platforms envisioned to improve the leadership posture in Canada, internationally and, eventually in the United States (v) statements that the Combined Firm is predicted to offer you a diversified and branded products giving and distribution footprint, condition-of-the-artwork cultivation, processing and manufacturing facilities (vi) statements in regard of operational efficiencies envisioned to be created as a end result of the Transaction in the total of close to C$100 million of pre-tax annual value synergies (vii) statements regarding the value and returns to shareholders envisioned to be generated by the company combination (viii) anticipations of potential harmony sheet toughness and long run equity (ix) anticipations relating to the Blended Company’s upcoming M&A method and (x) the expectation that the Merged Company’s shares will be outlined on the Toronto Inventory Trade concurrently with, or as quickly as possible soon after, the closing of the Transaction. Aphria and Tilray use text such as “forecast”, “future”, “should”, “could”, “enable”, “potential”, contemplate”, “believe”, “anticipate”, “estimate”, “plan”, “expect”, “intend”, “may”, “project”, “will”, “would” and the destructive of these terms or related expressions to recognize forward-looking statements, even though not all ahead-searching statements incorporate these identifying text. Sure content aspects or assumptions had been employed in drawing the conclusions contained in the ahead-seeking statements during this communication, which includes the means of the get-togethers to receive, in a well timed fashion and on satisfactory phrases, the required shareholder and courtroom approvals for the Transaction, the capacity of the events to fulfill, in a timely way, the situations to closing of the Transaction and other expectations and assumptions about the Transaction. Ahead-hunting statements replicate latest beliefs of administration of Aphria and Tilray with regard to long term functions and are dependent on information now available to every single respective administration staff such as the realistic assumptions, estimates, analysis and opinions of administration of Aphria and Tilray thinking of their knowledge, notion of developments, present circumstances and envisioned developments as perfectly as other elements that every respective administration believes to be appropriate as at the day these types of statements are manufactured. Forward-wanting statements entail sizeable acknowledged and unknown threats and uncertainties. Several components could lead to genuine success, overall performance or achievement to be materially distinct from any upcoming ahead-hunting statements. Components that could induce this sort of distinctions contain, but are not minimal to, risks assumptions and expectations described in Aphria’s and Tilray’s important accounting policies and estimates the adoption and influence of specific accounting pronouncements Aphria’s and Tilray’s foreseeable future financial and working performance the aggressive and business techniques of Aphria and Tilray the intention to develop the business, functions and possible things to do of Aphria and Tilray the ability of Aphria and Tilray to entire the Transaction Aphria’s and Tilray’s skill to offer a return on investment decision Aphria’s and Tilray’s ability to maintain a strong monetary position and regulate expenditures, the means of Aphria and Tilray to improve the utilization of their existing property and investments and that the completion of the Transaction is issue to the satisfaction or waiver of a selection of conditions as established forth in the Arrangement Settlement. There can be no assurance as to when these ailments will be satisfied or waived, if at all, or that other occasions will not intervene to hold off or final result in the failure to total the Transaction. There is a risk that some or all the predicted added benefits of the Transaction could fail to materialize or might not come about inside the time durations anticipated by Aphria and Tilray. The challenge of coordinating previously impartial corporations tends to make analyzing the small business and upcoming money potential clients of the Put together Company pursuing the Transaction tricky. Material challenges that could lead to true results to differ from forward-searching statements also incorporate the inherent uncertainty affiliated with the financial and other projections a well as industry adjustments arising from governmental steps or market situations in reaction to the COVID-19 community health and fitness crisis the prompt and efficient integration of the Blended Firm the capacity to reach the predicted synergies and price-creation contemplated by the Transaction the chance associated with Aphria’s and Tilray’s means to obtain the acceptance of the proposed transaction by their shareholders necessary to consummate the Transaction and the timing of the closing of the Transaction, such as the hazard that the conditions to the Transaction are not glad on a timely foundation or at all the risk that a consent or authorization that might be essential for the Transaction is not obtained or is acquired topic to disorders that are not expected the consequence of any lawful proceedings that could be instituted against the get-togethers and other people linked to the Arrangement Agreement unanticipated problems or expenses relating to the Transaction, the response of business enterprise associates and retention as a consequence of the announcement and pendency of the Transaction dangers relating to the price of Tilray’s common inventory to be issued in connection with the transaction the impression of aggressive responses to the announcement of the Transaction and the diversion of administration time on transaction-linked issues. Visitors are cautioned that the foregoing list of factors is not exhaustive. Other challenges and uncertainties not presently identified to Aphria and Tilray or that Aphria and Tilray presently believe are not product could also lead to real results or situations to vary materially from people expressed in the ahead-searching statements contained herein. For a more comprehensive dialogue of challe
nges and other elements, see the most not long ago submitted annual information and facts form of Aphria and the annual report filed on sort 10-K of Tilray designed with applicable securities regulatory authorities and obtainable on SEDAR and EDGAR. The forward-seeking statements involved in this interaction are made as of the day of this interaction and neither Aphria nor Tilray undertake any obligation to publicly update these forward-searching statements to reflect new data, subsequent occasions or in any other case unless essential by applicable securities regulations.

Added Facts ABOUT THE TRANSACTION AND The place TO Locate IT

This conversation is not supposed to and does not constitute an provide to provide or the solicitation of an give to subscribe for or purchase or an invitation to obtain or subscribe for any securities or the solicitation of any vote or acceptance in any jurisdiction, nor shall there be any sale, issuance or transfer of securities in any jurisdiction in contravention of applicable regulation. This conversation is currently being designed in respect of the proposed transaction involving Aphria and Tilray pursuant to the conditions of an arrangement arrangement by and among the Aphria and Tilray and may be considered to be soliciting materials relating to the proposed transaction.

In connection with the Transaction, Tilray has filed a joint proxy statement/administration data round (the “Circular”) made up of significant data about the Transaction and relevant matters. The Round has also been produced accessible by Aphria and Tilray on their respective SEDAR profiles. In addition, Aphria and Tilray will file other related supplies in relationship with the Transaction with the relevant securities regulatory authorities. Buyers and security holders of Aphria and Tilray are urged to cautiously go through the complete Round (together with any amendments or dietary supplements to these types of documents), respectively, before making any voting final decision with respect to the Transaction for the reason that they incorporate significant facts about the Transaction and the get-togethers to the Transaction. The Round will be mailed to the Aphria Shareholders and Tilray Stockholders and is available on the SEDAR and EDGAR profiles of the respective firms.

Buyers and protection holders of Tilray can obtain a no cost duplicate of the Circular, as well as other applicable filings containing information and facts about Tilray and the Transaction, which includes products integrated by reference into the Circular, with no cost, at the U.S. Securities and Trade Commission’s site (www.sec.gov) or from Tilray by getting in touch with Tilray’s Trader Relations at (203) 682-8253, by electronic mail at [email protected], or by likely to Tilray’s Trader Relations webpage on its web-site at https://ir.tilray.com/trader-relations and clicking on the url titled “Financials.”

Traders and protection holders of Aphria are equipped to get a absolutely free copy of the Round, as very well as other relevant filings made up of details about Aphria and the Transaction, which includes products integrated by reference into the Round, without cost, under Aphria’s profile on SEDAR at www.sedar.com or from Aphria by contacting Aphria’s investor relations at [email protected].