Business Acquisitions (Tables)

12 Months Ended

May 31, 2022

The fair value of the purchase price on the closing date was, 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 was $17,647 and $53,650, respectively.

The table below summarizes fair value of the assets acquired and the liabilities assumed as of May 31, 2022.

	May 31, 2022
Assets
Cash and cash equivalents	$	375,673
Accounts receivable		28,054
Inventory		66,547
Prepaids and other current assets		2,960
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		2,234,137
Other assets		22,879
Total assets		3,958,493
Liabilities
Accounts payable		62,292
Accrued expenses and other current liabilities		93,120
Accrued lease obligations		21,962
Warrant liability		79,402
Deferred tax liabilities, net		224,915
Convertible notes		267,862
Other liabilities		4,034
Total liabilities		753,587
Net assets acquired	$	3,204,906

. The table below summarizes preliminary estimated fair value of the assets acquired and the liabilities assumed at the effective acquisition date.

	Amount
Consideration
Shares	$	114,068
Net assets acquired
Current assets
Cash and cash equivalents		326
Accounts receivable		2,128
Prepaids and other current assets		367
Inventory		20,351
Long-term assets
Capital assets		11,179
Customer relationships (15 years)		9,800
Intellectual property, trademarks & brands (15 years)		69,950
Goodwill		2,797
Total Assets		116,898
Current liabilities
Accounts payable and accrued liabilities		2,228
Long-term liabilities
Deferred tax liability		602
Total liabilities		2,830
Total net assets acquired	$	114,068