Marijuana producer Aphria Inc. announced Friday that chief executive Vic Neufeld and co-founder Cole Cacciavillani will be leaving their executive roles at the company, but will remain on the board.
The Canadian cannabis producer Aphria reported mixed quarterly results Friday morning that were overshadowed by news that its cofounder Cole Cacciavillani and its CEO, Vic Neufeld, would transition out of their executive roles in the coming months. "But to be brutally honest the journey has also taken a toll on health, family and personal priorities", Neufeld said.
Aphria shares were down 2.8% early Friday.
The leadership transition comes after short sellers Hindenburg Research and Quintessential Capital Management sparked a plunge in Aphria's shares last month after alleging the company bought assets at inflated prices from insiders.
Aphria's stock fell 4.6 percent to $6.28 as of 8:22 a.m.in pre-market trading in NY.
The stock lost about half of its value after the first report was released, but has since recovered somewhat as doubt has been cast on some of the short seller's allegations. However, QCM didn't respond to BNN Bloomberg's inquiries to verify if the hedge fund had fully withdrawn its short position on the company.Читайте также: The Division 2 délaissera Steam pour Epic
Aphria is the target of a proposed hostile takeover bid by Green Growth Brands Inc., which has also raised questions about connections between the two companies.
Irwin Simon, the company's newly-appointed chairman, also spoke during the conference call, noting that he sees many similarities between the cannabis industry and the natural organic sector that he first worked in almost three decades ago. "And I've got to tell you, I've never seen an operation that has been built [like] Aphria", Simon said.
The change in the executive suite came as Aphria reported revenue totalled $21.7 million in what was its second quarter as Canada's legal recreational market began.
Cannabis sales rose 92 percent to 3,409 kilogram equivalents, with more than 1,900 kilograms of that sold to the Canadian recreational market after pot was legalized on October 17.
Aphria earned a profit of $54.8 million or 22 cents per share for its quarter ended November 30 compared with a profit of $6.5 million or five cents per share for the same period previous year.При любом использовании материалов сайта и дочерних проектов, гиперссылка на обязательна.
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