Aphria Selling Stake in U.S. Pot Producer in $20M Deal

Move meant to maintain Aphria onside with Canadian inventory regulators, markets.

Canadian marijuana producer Aphria Inc. on Friday introduced a deal to promote its holding in Arizona hashish firm Copperstate Farms to Liberty Health Sciences Inc. for $20 million.

The transfer is aimed toward serving to Aphria avoiding points with Canadian fairness markets and regulators. Back in October, the Canadian Securities Administrators set out “specific disclosure expectations” for marijuana business companies with investments in the U.S., whereas TMX Group Limited, which operates the Toronto Stock Exchange, stated it’d transfer to delist shares of marijuana corporations with operations in the U.S.

In addition, U.S. Attorney General Jeff Sessions in January rescinded an Obama-era memo that instructed that the federal authorities wouldn’t intervene in states the place the marijuana is authorized.

– Read the complete article at CBC News.


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