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Tag Archives Aphria

Crops, Reuters

U.S. firm launches second hostile bid for pot producer Aphria

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Reuters — U.S. cannabis retailer Green Growth Brands said on Tuesday it would make a second all-stock takeover bid for Aphria, valuing the Canadian pot producer at about $2.35 billion. Several companies are looking to partner with or buy pot firms to explore opportunities in the Canadian cannabis sector after the country legalized recreational use […] Read more
Crops, Reuters

Ontario marijuana producer Aphria’s CEO to step down

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Reuters — Canadian pot producer Aphria’s co-founder and CEO Vic Neufeld is stepping down, at a time the company is facing questions about its deals in Latin America and a recent slump in its shares. The Leamington, Ont. company also said its marijuana sales nearly doubled in the second quarter driving overall revenue to $21.7 […] Read more
Crops, Reuters

Aphria says proposed hostile bid undervalues company

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Reuters — Canadian cannabis producer Aphria said on Friday Green Growth Brands’ proposed $2.8 billion all-stock hostile bid “significantly” undervalued the company. Ohio-based cannabis retailer Green Growth, which merged with Xanthic Biopharma in November, said on Thursday it would offer 1.5714 shares for each Aphria share. The company said its valuation was based on a […] Read more
Crops, Reuters

U.S. hostile play launched for Ontario pot producer Aphria

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Reuters — U.S. cannabis company Green Growth Brands said on Thursday it would make a takeover bid for Aphria Inc., valuing the Canadian pot producer at $2.8 billion. The all-stock offer comes at a time when several companies are looking to partner with or buy pot firms to explore opportunities in the Canadian cannabis sector […] Read more
Crops, Reuters

Altria reported seeking stake in cannabis firm Aphria

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Reuters — Marlboro maker Altria Group is in talks for a stake in Canadian cannabis producer Aphria Inc., the Globe and Mail reported on Wednesday, citing multiple sources. The details of Richmond, Virginia-based Altria’s investment are still being finalized, though it has expressed interest in buying a minority stake in Aphria with the intention of […] Read more
Crops, Reuters

Ontario pot firm Aphria selling U.S. stake

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Reuters — Ontario marijuana company Aphria said on Friday it agreed to sell its minority stake in U.S.-based Copperstate Farms to Liberty Health Sciences for $20 million. Boards of Aphria and Liberty have unanimously approved the deal, which is expected to close in the second quarter. Aphria has been looking to hive off its business […] Read more
Crops, Reuters

Cannabis firm Aphria mulls sale of U.S. unit

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Reuters — Canadian cannabis company Aphria said Thursday it was exploring “strategic alternatives,” including a sale, for its U.S. business, amid tightening enforcement of federal cannabis laws in the country. Earlier this year, the U.S. Department of Justice revoked an Obama administration policy that discouraged federal prosecutors from pursuing marijuana-related crimes in states that had […] Read more
Crops

Ontario medical marijuana producers plan major merger

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A southwestern Ontario greenhouse firm billed as one of Canada’s lowest-cost medical marijuana producers plans to expand its reach by buying a rival firm sourcing cannabis worldwide for processing. Aphria Inc., based at Leamington, Ont., announced Monday it has locked in a cash-and-stock deal to buy Toronto-based Nuuvera Inc. for $826 million. The deal, expcted […] Read more

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