The CEO of a Canadian cannabis producer recently targeted by short sellers will step down from an executive role at the company he helped found, but stay on the board.
The company said it closed the acquisition of "key operations and licenses" in Latin America and the Caribbean region.
Neufeld says he and Cacciavillani will begin the transition process immediately, and at the appropriate time, they will both step down from executive positions at Aphria.
"The last five years, going from an idea in some greenhouses in Leamington, Ont.to a global player in a major new industry have been an incredible journey for entrepreneurs like myself and Cole".
Both Neufeld and company co-founder Cole Cacciavillani are exiting their executive roles with Aphria after some eyebrow-raising allegations about the company recently emerged in the business press.
"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. Aphria's stock tumbled more than 50 percent on the December 3 report was made public, but it has since rebounded, recouping much of that, including a 6.2 percent gain to C$9.25 at 11:15 a.m.in Toronto, reports Bloomberg on Friday.
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In early December, Aphria shares plummeted after its business was attacked by a short-seller, and a company backed by a billionaire OH family launched a hostile takeover bid in late December, though that effort has a number of red flags. In a tweet on Friday, Quintessential said it felt it had been vindicated, and "with a new management team the company has a chance to a brighter future and we are accordingly moving on to new projects". The company reported that medical cannabis sales declined marginally from 1,466.2 kilogram equivalents sold in the first fiscal quarter to 1,443.6 kilogram equivalents sold in the second quarter.
"Part IV and V expansions of Aphria One awaiting Health Canada approval; application for cultivation licence at Aphria Diamond submitted and also awaiting Health Canada pre-cultivation inspection", said the company.
Aphria's independent chairman Irwin Simon and president Jakob Ripshstein will manage the transition. After the transition, Mr. Neufeld and Mr. Cacciavillani will serve as special advisers to the chair and president until a new CEO is appointed. I was blown away by the facilities, what has been built there - and I have traveled all around the world, have seen a lot of operations into personal care and other businesses.
Aphria reported $21.7 million in revenue in its fiscal second quarter that ended November 30, up 63 per cent from the same period a year ago, but short of the $28.8 million that analysts had expected. Quintessential accused Aphria of announcing acquisitions in July that it called "largely worthless" and said were used to divert as much as $700 million, or almost half of its total net assets.
Fans have taken the opportunity to mock Houston Rockets star James Harden after he was floored by a basketball to the face. The Rockets got five quick points from Gerald Green to start a 7-0 run later in the third that put them up 75-70.
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Murray has had a celebrated career, breaking long Grand Slam droughts for British men when he won the U.S. Andy's earned everything he's ever achieved, is a hero to millions of Scots and we're all behind him".
Chiefs quarterback Patrick Mahomes is riding high following his first career playoff win Saturday over the Indianapolis Colts . Colts wideout Zach Pascal recovered the block punt and tumbled into the end zone, cutting the Chiefs' lead to 17-7.
Kendall played backup to Heisman Trophy victor Baker Mayfield during his true freshman year before sitting out a redshirt season. He played well in the time he was given, completing 71.8 percent of his passes (28 of 39) for 265 yards and three touchdowns.
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Yet if you're hoping to explore the room for yourself, you may want to think twice before attempting the procedure. Like its predecessors, it is filled with every item in the game, with "All Scrap" in one crate and "All Misc.
As their interview continued they discussed VLC's roadmap which actually includes support for Apple's Airplay . The 3 billion downloads mark was probably reached today thanks to the sixth update in the "Vetinari" series.
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