new timberland boots Aphria sells stake in Copperstate Farms to Liberty Health Sciences for
TORONTO Aphria Inc. firm as the Canadian licensed marijuana producer looks to reduce its direct involvement in medical pot south of the border. medical cannabis market. Aphria, based in Leamington, Ont., holds a minority stake in Liberty. cannabis business, Aphria chief executive Vic Neufeld said in a statement.
The sale is subject to customary closing conditions and expected to close in the second quarter. federal law, which classifies marijuana as an illegal schedule 1 drug, takes precedence over state law. The TMX Group,
which operates the Toronto Stock Exchange and the TSX Venture, said companies that operate in states where pot is legal are not in compliance with TSX listing requirements and could face a delisting review. Attorney General Jeff Sessions rescinded an Obama era guidance known as the Cole Memorandum that suggested that the federal government would not intervene in states where the marijuana is legal, allowing legalization to flourish in states including California and Florida. Sessions said in the January memo that he would leave it to federal prosecutors in states where cannabis is legal to decide how aggressively to enforce federal law.
Aphria is also planning to sell 25 per cent of its 38 per cent stake in Liberty, and has put it up for sale, according to a report. A spokesperson for the licensed producer said it had no further comment other than that Aphria is and considering strategic alternatives with respect to its US cannabis related interests, including the possible divestiture of its investments to strategic, long term and committed investors in the cannabis industry. in this story: (TSX:APH,