Canadian cannabis company Aleafia Health Inc. said Tuesday it has terminated its wholesale cannabis supply agreement with Aphria Inc. after the latter failed to meet its obligations. The agreement, which dates back to Sept. 11, 2018, was between Aphria and Aleafia subsdiary Emblem and required that Aphria would provide up to 175,000 kg equivalents of cannabis products over an initial five-year term. "The company does not believe the termination of the supply agreement will materially and adversely affect the company's business, operations or results," Toronto-based Aleafia said in a statement. Aphria shares were down 1.1% premarket and have fallen 5% in 2019. Aleafia shares were not yet active, but have fallen 38% in 2019. The ETFMG Alternative Harvest ETF has fallen 18% in 2019, while the S&P 500 has gained 17%. Read More...
Canadian cannabis company Aleafia Health Inc. said Tuesday it has terminated its wholesale cannabis supply agreement with Aphria Inc. after the latter failed to meet its obligations. The agreement, which dates back to Sept. 11, 2018, was between Aphria and Aleafia subsdiary Emblem and required that Aphria would provide up to 175,000 kg equivalents of cannabis products over an initial five-year term. “The company does not believe the termination of the supply agreement will materially and adversely affect the company’s business, operations or results,” Toronto-based Aleafia said in a statement. Aphria shares were down 1.1% premarket and have fallen 5% in 2019. Aleafia shares were not yet active, but have fallen 38% in 2019. The ETFMG Alternative Harvest ETF has fallen 18% in 2019, while the S&P 500 has gained 17%.
Read More
Add Comment