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.
"Now with legalization and globalization, including a huge market opportunity with positive developments in the U.S., Aphria's next generation of leadership may take the reins", Neufeld said in a release.
The forensic analysis firm Hindenburg Research, as part of the short seller attack on Aphria, suggested that the company is "part of a scheme orchestrated by a network of insiders to divert funds away from shareholders into their own pockets".
Vic Neufeld and Cole Cacciavillani, the CEO and the co-founder of Leamington cannabis company Aphria Inc., will step down from their executive positions, announced the company on Friday morning.
"During this transition period, we're going to work hard to benefit from their mentorship", he added. In the three months to November 30, it booked $22-million in net revenue, selling 3,409 kilograms of cannabis.
Aphria shares climbed 5.7% in pre-market trading in NY on Friday.
One of the largest cannabis companies in Canada, Aphria's stock was hammered a few months ago by allegations from short sellers that the company bought numerous assets in the Caribbean and Latin America at grossly inflated prices, created to enrich insiders. Neufeld said on Friday that an independent committee of directors with no relationship to Green Growth will review any formal offers.
Aphria's report did not acknowledge the recent announcement of a hostile takeover bid by US -based retailer Green Growth Brands. Aphria responded by saying the offer significantly undervalued the company. "I look forward to working with them to further build Aphria's leadership team and continue driving long-term value for our patients, customers and employees into the future".
Revenue for the company's second quarter totaled C$21.7 million ($16.4 million), up from C$13.3 million ($10 million) the quarter before and C$8.5 million ($6.4 million) in the same period previous year. Wall Street analysts surveyed by Bloomberg were looking for adjusted earnings of 0.02 Canadian dollars on revenue of 28.77 million Canadian dollars. Aphria said that the increase in net income was due to gains on its long-term investment portfolio, primarily divestitures of positions in Hiku Brands and Liberty Health Sciences. The company said that the higher revenue in the quarter was driven by a 92% increase in kilogram equivalents of cannabis sold and an additional C$1.6 million of non-cannabis global sales.
"The entire industry has not met the expectations of provincial regulators", Neufeld said on Friday, but noted that many of those supply chain issues "have now been worked out".
It featured Lovren mocking Spain and appearing to hint he deliberately stuck Spain's Sergio Ramos with his elbow. Liverpool fans love the jibe at Real Madrid captain but it eventually landed Lovern in trouble.
They also urged protests in Niyala and El-Fasher in Darfur , the first such rallies to be called in the region. The commission said it was "calling upon the government to investigate this and bring the criminals to court".
The Artificial Intelligence in BFSI market research study relies upon a combination of primary as well as secondary research. Year wise evaluation based on segment and sub-segments and forecasts up to 2023 are additionally comprised in this report .
It's called Gun Rush , and it pits up to 32 players against each other in an ever-shrinking arena filled with scattered weapons. Wait too long and bounty hunters from each of the states will track the player forcing them to either pay up or escape.
The Fallout franchise is no secret to housing secret areas and a hidden " dev room " isn't necessarily new either. It appears Bethesda is looking into handing out automatic account bans that can take 6 to 24 hours to resolve.
The 58-year-old former national captain and manager discovered the problem at a routine hospital check-up this month. In 2007 he checked himself into a clinic in Buenos Aires to help him overcome alcohol abuse problems.
Solari: I Have No Advice For Isco
Santiago Solari's men sit 5th on the La Liga table with 30 points from 18 games, 10 behind leaders and arch rivals Barcelona . But the coach says, "Isco is doing fine, just like all of the players who are training at the moment".
Ohio State QB Martell signals he may transfer | AP sports
Players who put their names in the transfer database are at risk of losing their financial aid from their current schools . The dual-threat quarterback now joins a crowded quarterback transfer market which will also include Alabama's Jalen Hurts.
Canada to welcome 1m new immigrants in next 3 yrs
The decision has reportedly been taken to offset Canada's aging population and declining birth rate while growing its labor force. The average new arrival is relatively young, and many will be welcomed under job schemes, bolstering the country's work force.
Wide Field Camera 3 Anomaly on Hubble Space Telescope
Besides, Nancy Grace Roman who was known for her contribution in building the Hubble Space Telescope passed away at the age of 93. Teams are hard at work troubleshooting the glitch, saying that a system reboot might be needed to fix the error.
Chicagoans line up, fail to make 43-yard field goal
Parkey thought he hit a "pretty good kick" and his 43-yard attempt would go in even as it hit the left upright and crossbar. This morning, Parkey was on the Today show to talk about the missed field goal and what his life has been like since.