One-time Aphria suitor Green Growth Brands sells CBD business amid ‘serious financial difficulty’

Green Growth Brands Inc., once a suitor of Aphria Inc., is selling its CBD business and restructuring debt amid what the company is calling “serious financial difficulty.”

It also made a splashy attempt to enter the Canadian cannabis industry with a $2.4-billion hostile bid for Aphria in January 2019 after a short-seller attack triggered a plunge that erased more than half of Aphria’s market value. Since then, Aphria has posted three consecutive quarters of Ebitda profitability.

Green Growth reported a net loss of US$34.8 million for the quarter ended Dec. 28. The company declined further comment.

Welcome to Canada. 5% of the population holds veto over the 95%, the Prime Minister is impotent, and you lose money selling pot.

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

China promises companies aid, says growth targets can be met amid outbreakRegulators on promised tax cuts and other aid Monday to help companies recover from China's virus outbreak and expressed confidence the ruling Communist Party's growth targets can be achieved despite anti-disease controls that shut down much of the economy. China is becoming a danger to the planet. Donald won't like this.
Source: CTVNews - 🏆 1. / 99 Read more »