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Business Acquisitions (Tables) | 12 Months Ended
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May 31, 2021
Aphria Inc |
Business Acquisition [Line Items] |
Schedule of Fair Value of Purchase Price | The fair value of the purchase price is, as follows:
|  | April 30, 2021 |
Number of Tilray common shares outstanding at acquisition date |  |  | 179,635,973 |
Conversion ratio |  |  | 0.8381 |
Tilray common shares issued at closing |  |  | 214,337,159 |
Market share price of Aphria converted stock units |  | $ | 14.62 |
Fair value of Tilray common stock transferred to Aphria shareholders |  |  | 3,133,609 |
Consideration related to stock-based compensation (1) |  |  | 71,297 |
Total fair value of consideration transferred |  | $ | 3,204,906 |
(1) | On acquisition date there was consideration in the form of 1,207,010 restricted stock units and 4,782,132 stock options that had been issued before the acquisition date to employees and non-employees of Tilray. The pre-combination fair value of these awards is $17,646 and $53,650, respectively. The consideration will be reassessed and adjusted to fair value each quarter through General and Administration Expense in the Statement of Loss and Comprehensive Loss.
Summary of Preliminary Estimated Fair Value of Assets Acquired and Liabilities Assumed at Effective Acquisition Date | The table below summarizes preliminary estimated fair value of the assets acquired and the liabilities assumed at the effective acquisition date.
|  | April 30, 2021 |
Assets |  |  |  |
Cash and cash equivalents |  | $ | 375,673 |
Accounts receivable |  |  | 28,054 |
Inventory |  |  | 76,547 |
Prepaids and other current assets |  |  | 8,960 |
Capital assets |  |  | 136,637 |
Right-of-use assets, operating leases |  |  | 12,606 |
Definite-lived intangible assets (estimated useful life) |  |  |  |
Distribution channel (15 years) |  |  | 404,000 |
Customer relationships (15 years) |  |  | 59,000 |
Know how (5 years) |  |  | 115,000 |
Brands (10 to 25 years) |  |  | 301,000 |
Indefinite-lived intangible assets |  |  |  |
Licenses |  |  | 200,000 |
Goodwill |  |  | 2,221,613 |
Other assets |  |  | 22,879 |
Total assets |  |  | 3,961,969 |
Liabilities |  |  |  |
Accounts payable |  |  | 62,292 |
Accrued expenses and other current liabilities |  |  | 85,120 |
Accrued lease obligations |  |  | 21,962 |
Warrant liability |  |  | 79,402 |
Deferred tax liability |  |  | 236,391 |
Convertible notes |  |  | 267,862 |
Other liabilities |  |  | 4,034 |
Total liabilities |  |  | 757,063 |
Net assets acquired |  | $ | 3,204,906 |
Schedule of Goodwill |
|  | Cannabis |  |  | Wellness |  |  | Total |
Goodwill related to Tilray |  |  | 2,144,143 |  |  |  | 77,470 |  |  |  | 2,221,613 |
Schedule of Supplemental Pro Forma Information |
|  | Years ended May 31, |
|  | 2021 |  |  | 2020 |
Revenue |  | $ | 692,270 |  |  | $ | 624,950 |
Net loss |  | $ | (795,251 | ) |  | $ | (649,276 | )
Net loss per share - basic and diluted |  | $ | (1.77 | ) |  | $ | (1.71 | )
S W Brewing Company L L C |
Business Acquisition [Line Items] |
Summary of Preliminary Estimated Fair Value of Assets Acquired and Liabilities Assumed at Effective Acquisition Date | The table below summarizes preliminary estimated fair value of the assets acquired and the liabilities assumed at the effective acquisition date.
|  | Amount |
Consideration |  |  |  |
Cash |  | $ | 255,543 |
Shares |  |  | 65,889 |
Contingent consideration |  |  | 58,959 |
Total consideration |  |  | 380,391 |
Net assets acquired |  |  |  |
Current assets |  |  |  |
Cash and cash equivalents |  |  | 6,988 |
Accounts receivable |  |  | 3,810 |
Prepaids and other current assets |  |  | 528 |
Inventory |  |  | 4,815 |
Long-term assets |  |  |  |
Capital assets |  |  | 43,093 |
Customer relationships |  |  | 155,000 |
Intellectual property, trademarks & brands |  |  | 92,000 |
Non-compete agreements |  |  | 10,000 |
Goodwill |  |  | 100,202 |
Total assets |  |  | 416,436 |
Current liabilities |  |  |  |
Accounts payable and accrued liabilities |  |  | 5,289 |
Current portion of lease liabilities |  |  | 434 |
Long-term liabilities |  |  |  |
Lease liabilities |  |  | 30,322 |
Total liabilities |  |  | 36,045 |
Total net assets acquired |  | $ | 380,391 |
Schedule of Supplemental Pro Forma Information | The unaudited pro forma information for the periods set forth below gives effect to the acquisition of SW Brewing Company, LLC as if the transaction had occurred as of June 1, 2019. This pro forma information is presented for informational purposes only and is not necessarily indicative of the results of operations that actually would have been achieved had the transactions been consummated as of that time.
|  | Years ended May 31, |
|  | 2021 |  |  | 2020 |
Revenue |  | $ | 542,000 |  |  | $ | 470,000 |
Net loss |  | $ | (328,000 | ) |  | $ | (80,000 | )
Net loss per share - basic and diluted |  | $ | (0.73 | ) |  | $ | (0.37 | )

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