The Globe and Mail reports in its Saturday edition that Aphria says the price it paid last summer for cannabis assets in Latin America was "acceptable," but admits that unnamed directors of the company had "conflicts" they failed to disclose.
The Globe's David Milstead writes that the Ontario cannabis grower said Friday that a special committee had reviewed the December allegations of a pair of short-sellers, who called Aphria's assets in Colombia, Jamaica and Argentina "largely worthless." Aphria's special committee said the purchase price was in line with similar acquisitions made by its competitors.
The tone of the special committee's review was softer than Aphria's original response that the short-sellers' report was "false and defamatory." The company had said in December it would be "pursuing all available legal options" against the short-sellers. Friday's report made no mention of any such action.
The language was also markedly different from that of spinoff Liberty Health, which said last week that an independent investigation had found the short-sellers' allegations about its company "materially inaccurate," "presented in a misleading and inaccurate manner" and said they "should not be relied upon."
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