Cannabis producer Aphria backs its Latam operations

SOL Global Investments

04/12/2018 14:11

Dec 4 (Reuters) - Canadian cannabis producer Aphria Inc
 APHA.TO  on Tuesday defended its Latin American operations from
claims in an analyst report that the company had overpaid for
assets which were now being poorly managed and were losing it
money.
    The report, published by Hindenburg Research and short
seller Quintessential Capital Management, and outlined in a
presentation on Quintessential's website, helped weaken the
company's shares by as much as 30 percent on Monday.
     Aphria said it "unequivocally" stands behind its operations
in the region, including its acquisition of Latam Holdings Inc,
going on to list its financial advisors on the deals and saying
it had paid a price that was comparable to other industry deals.
    U.S.-listed shares of Aphria  APHA.N  were down about 16
percent before the opening bell.

 (Reporting by Debroop Roy in Bengaluru; Editing by Derek
Francis)
 ((Debroop.Roy@thomsonreuters.com; within U.S. +1 646 223 8780,
outside U.S. +91 80 6749 1690; Reuters Messaging:
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