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Aphria forced to retract statement about wholesaling capabilities

Submitted by admin on Wed, 04/01/2015 - 09:32

Medical Marijuana producer Aphria Inc. was forced to retract a statement the company made in a recent press release on Tuesday, after regulators expressed concern about the accuracy.

The company, based in Leamington, Ontario, announced last week that it had been granted permission by Health Canada to begin shipping the product wholesale to other licenced producers. The company said in the release that it was “the only company currently positioned to sell medical marijuana to other licenced producers.”

However, after scrutinizing that statement, the Investment Industry Regulatory Organization of Canada (IIROC) asked for a clarification of the matter, and ordered the company’s stock to be halted until a subsequent statement was issued.

IIROC took issue with the fact that the company was saying it was the only company with wholesaling capability. However, it is not known how many companies have such amendments to their licence from Health Canada that permit...

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URL: 
http://www.theglobeandmail.com/report-on-business/aphria-forced-to-retract-statement-about-wholesaling-capabilities/article23729063/

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