aphria News

Shares of Canadian cannabis maker Aphria were down more than 12 percent in trading Monday after the company swung to a fiscal third-quarter loss despite soaring revenue.

Cannabis shortages appeared almost immediately after recreational marijuana was legalized in Canada four months ago. Provincial distributors blamed producers and federal regulators. One expert says the shortage could last five years.

Cannabis stocks have gained popularity among investors at Robinhood, a free-trading app popular among younger traders, after the legalization of recreational marijuana in Canada.

The Board of Directors of Leamington, Ontario-based Aphria Inc. on Wednesday formally rejected a hostile takeover bid from Green Growth Brands Inc. (GGB), saying it undervalues the Canadian cannabis grower.

Leamington - Green Growth Brands (GGB), a US-based marijuana company, on Tuesday, announced that it filed an offer to acquire all Aphria outstanding common shares through an all-stock deal.

Canadian cannabis producer Aphria Inc.’s chief executive officer is stepping down following short-seller allegations that have hit the company’s stock.

Leamington - Ohio-based Xanthic Biopharma Inc., which does business as Green Growth Brands, announced its hostile takeover bid for Canadian cannabis producer, Aphria after stock markets closed Thursday.

Aphria shares tumbled 29 percent in pre-market trading in New York on Monday after Gabriel Grego, founder of Quintessential Capital Management (QCM), accused the company of being a shell game with a cannabis business on the side.

Brampton - As Canada moves closer to the legalization of marijuana later this year, another deal has been struck as the country's cannabis sector ramps up consolidation efforts. This time, Aphria Inc. agreed to buy Nuuvera Inc., a global cannabis company in Ontario.