Aphria Inc. (TSX: APHA and NYSE: APHA) today responds to the unsolicited proposal by Xanthic Biopharma Inc. d.b.a. Green Growth Brands Ltd. (CSE:GGB) to acquire all of the Company's outstanding common shares in an all-stock transaction.
2018 has proven to be a banner year for the cannabis industry and we expect 2019 to be even more significant. Following Altria’s investment in leading Canadian cannabis producer Altria Group (MO), many investors are trying to invest in what could be the next big acquisition target.
During the next year, we expect the cannabis industry to see significant consolidation and expect to see more companies like Altria and Constellation Brands (STZ) make investments in the sector.
Aphria Inc. (TSX: APHA and NYSE: APHA) today announced that it has signed a Letter of Intent with Insumos Medicos S.A., a Paraguayan pharmaceutical manufacturing, import and distribution company, to enter into an exclusive supply and distribution agreement to provide medical cannabis in Paraguay.
November has been a tough month for the overall market as well as the cannabis sector and this is a trend that we continue to monitor.
The recent decline has been significant and has been fueled by companies reporting quarterly financials that have come in below expectations. The market has much higher expectations for these companies, especially the Canadian cannabis producers, and this is a trend worth watching.