07:04 AM EDT, 04/15/2019 (MT Newswires) -- Aphria (APHA, APHA.TO) shares fell more than 7% pre-market Monday as the cannabis company posted a fiscal Q3 loss of $0.20 per share, compared to earnings of $0.08 per share in the same period a year ago. Analysts polled by Capital IQ expected a loss of $0.04 per share.
For the quarter ended Feb. 28, total revenue of $73.6 million was up from $10.3 million in the same period a year ago but missed the Street projection of $83.4 million.
The company also said it has entered into a series of transactions that will accelerate the expiration of an unsolicited takeover offer from Canadian Securities Exchange-listed Green Growth Brands to April 25. The transactions will provide up to an additional $89 million of liquidity to the company without dilution to shareholders.
Based on the closing price of $3.86 per Green Growth share on the CSE on April 12, the implied consideration under GGB's offer would be $6.07 per Aphria share, the company said. The offer represents a 54.7% discount to Aphria's closing price on the Toronto Stock Exchange of $13.41 per share on the same day.
Aphria said it is continuing to recommend shareholders reject the offer.
Price: 9.50, Change: -0.60, Percent Change: -5.94
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