Globe says Aphria shopping around for new law firm

Aphria Inc (C:APHA)
Shares Issued 249,762,289
Last Close 12/11/2018 $8.20
Wednesday December 12 2018 - In the News

The Globe and Mail reports in its Wednesday edition that Aphria and its law firm, Stikeman Elliott LLP, are expected to cut ties after a deal by the cannabis company to buy assets in Jamaica, Colombia and Argentina came under heavy scrutiny from investors. 

The Globe's Andrew Willis writes that over the summer, Stikeman lawyers advised Aphria on the acquisition of assets in the three countries from Scythian Biosciences. 

Aphria and some of its executives, including chief executive officer Vic Neufeld, were shareholders in Scythian, which they disclosed. 

Scythian netted a large gain on the deal, which was worth $193-million in stock at the time it was announced. 

On Dec. 3, the acquisition was called into question by two U.S. short-sellers who alleged that Aphria bought assets of questionable value at valuations that were "vastly inflated or outright fabrications." 

Aphria initially responded by saying that the allegations were "a malicious and self-serving attempt to profit by manipulating Aphria's stock price." On Thursday, the Leamington, Ont., company appointed a special committee to review the Scythian acquisitions. 

Mr. Neufeld told The Globe, "As of today, Stikeman is still our corporate counsel."

© 2018 Canjex Publishing Ltd.

House Positions for C:APHA from 20181212 to 20181212

House	Bought	$Val	Ave	Sold	$Val	Ave	Net	$Net
7 TD Sec	4,042,888	32,392,420	8.012	3,295,667	26,408,407	8.013	747,221	-5,984,013
2 RBC	1,414,750	11,334,068	8.011	1,186,622	9,524,331	8.026	228,128	-1,809,737
124 Questrade	520,271	4,171,095	8.017	408,037	3,268,174	8.01	112,234	-902,921
13 Instinet	605,165	4,835,430	7.99	533,650	4,276,081	8.013	71,515	-559,349
65 Goldman	72,746	580,729	7.983	2,100	16,737	7.97	70,646	-563,992
19 Desjardins	250,022	2,002,766	8.01	188,645	1,507,902	7.993	61,377	-494,864
80 National Bank	609,137	4,888,337	8.025	562,285	4,512,415	8.025	46,852	-375,922
101 SG Capital	39,200	313,586	8.00	2,000	16,421	8.211	37,200	-297,165
99 Jitney	902,000	7,210,022	7.993	874,100	6,999,678	8.008	27,900	-210,344
59 PI	34,100	271,095	7.95	12,900	102,925	7.979	21,200	-168,170
79 CIBC	4,988,100	40,025,931	8.024	4,970,480	39,830,677	8.013	17,620	-195,254
14 ITG	16,941	138,375	8.168	535	4,206	7.862	16,406	-134,169
143 Pershing	30,805	246,647	8.007	22,312	179,302	8.036	8,493	-67,345
35 Friedberg	7,004	57,013	8.14	0			7,004	-57,013
56 Edward Jones	5,821	45,958	7.895	2,740	21,951	8.011	3,081	-24,007
76 Industrial Alliance	2,300	18,075	7.859	0			2,300	-18,075
83 Mackie	1,300	10,439	8.03	0			1,300	-10,439
94 Hampton	1,000	8,460	8.46	0			1,000	-8,460
68 Leede	1,900	15,122	7.959	1,800	14,314	7.952	100	-808
48 Laurentian	400	3,200	8.00	400	3,148	7.87	0	-52
25 Odlum	41,000	327,008	7.976	41,000	328,603	8.015	0	1,595
36 Latimer	4,254	33,946	7.98	4,364	34,988	8.017	-110	1,042
89 Raymond James	0			225	1,788	7.947	-225	1,788
22 Fidelity	0			400	3,176	7.94	-400	3,176
90 Barclays	1,000	7,968	7.968	2,500	20,283	8.113	-1,500	12,315
24 Clarus	0			2,900	22,560	7.779	-2,900	22,560
6 Infor	3,000	23,785	7.928	7,000	56,525	8.075	-4,000	32,740
70 Manulife	3,300	26,597	8.06	10,000	77,500	7.75	-6,700	50,903
74 GMP	30,000	245,982	8.199	37,000	294,879	7.97	-7,000	48,897
62 Haywood	18,550	149,188	8.042	25,750	201,765	7.836	-7,200	52,577
57 Interactive	11,361	92,313	8.125	20,591	165,597	8.042	-9,230	73,284
33 Canaccord	3,446	27,681	8.033	20,140	160,305	7.96	-16,694	132,624
97 M Partners	0			29,500	231,618	7.851	-29,500	231,618
28 BBS	50,144	402,877	8.034	81,405	656,258	8.062	-31,261	253,381
17 Integral	0			37,500	305,250	8.14	-37,500	305,250
72 Credit Suisse	113	919	8.133	64,800	517,736	7.99	-64,687	516,817
9 BMO Nesbitt	555,005	4,439,328	7.999	620,479	4,937,163	7.957	-65,474	497,835
39 Merrill Lynch	874,975	7,019,355	8.022	944,219	7,593,002	8.042	-69,244	573,647
88 Credential	156,916	1,254,952	7.998	231,334	1,842,786	7.966	-74,418	587,834
55 Velocity	0			146,600	1,185,675	8.088	-146,600	1,185,675
1 Anonymous	2,902,361	23,250,619	8.011	3,082,420	24,718,949	8.019	-180,059	1,468,330
222 JP Morgan	100	817	8.17	180,900	1,465,620	8.102	-180,800	1,464,803
85 Scotia	1,057,493	8,473,085	8.012	1,307,867	10,507,373	8.034	-250,374	2,034,288
53 Morgan Stanley	51,213	413,722	8.078	346,914	2,742,842	7.906	-295,701	2,329,120
TOTAL	19,310,081	154,758,910	8.014	19,310,081	154,758,910	8.014	0	0