As Canadian pot producer Aphria Inc. tells it, the farm is part of its growing portfolio of international assets. For two U.S. short sellers, it’s one of the catalysts for an offensive that sent Aphria shares plunging in December. Hindenburg and New York-based hedge fund Quintessential called the acquisitions part of a “shell game” to funnel money to insiders at an inflated price. Aphria called the report “malicious,” false and defamatory, and said the deals were backed by a fairness opinion from Cormark Securities Inc., a Toronto investment bank. Valuation discrepancyThere is also disagreement over the price Aphria paid for LATAM Holdings.

Source: thestar January 05, 2019 14:48 UTC