Tuesday , January 26 2021

Africa claims it will provide a denial of statements by short sellers

Vic Neufeld, Chief Executive Officer of Aphria, one of the largest Canadian marijuana manufacturers, says the company will deal directly with the claims made in the short-term report.

Tyler Anderson / National Mail / Tyler Anderson / National Mail

Chief executive of the cannabis manufacturer in Leamington Africa – under siege by short sellers, says the back of the deal is enriched with insiders – said the company will issue a report next week to look at all the allegations.

Vic Neufeld said Africa's answer would reject the boom of the accusations highlighted on Monday that it mostly focuses on the company's recent acquisitions in Latin America.

"You will find all 20 – some accusations, in order, on picture points – real pictures, real pictures – from what we call the acquisition of assets from LATAM," Neufeld told the Star on Friday. "Each point will be very informative and will shed the real light on history."

He said the refutation would probably be released on Wednesday. Aphria announced on Thursday that it has appointed an independent commission to review the recent acquisition of Latin American holding companies and confirm that it is on the level.

Neupl said that Liberty Health Sciences, a company backed by Africa, which was targeting a second round of charges, is likely to release its response Monday.

He said the possibility of prosecution prevented him from coping with the specific details of the charges until the official reply next week.

"I'm not hiding," he said. "We are very focused on dealing with all the facts – those that have been discovered and those we have to uncover – to make sure we do not give preventive selective disclosure."

But he said it would be "proven by further judicial work" that there were no enriched insiders to the detriment of unconscious shareholders.

This was one of many claims made by Quintessential Capital Management and the Hindenburg Research law firm, which headed Afrika on Monday called "shell" and "black hole."

Both Quintessential and Hindenburg are reportedly selling short sales to Aphria. The short seller can win if the price of the security falls.

They argue that Africa is diverting funds to increased domestically owned investments and that its latest Latin American transactions are useless. Hindenburg said the official site of the African acarias acarias acarias was "an abandoned building that the bank sold earlier this year."

The company also claims that Africa's agrarian agrarian deal, which for 2017 sold $ 11 million, actually made only $ 430,000.

Hindenburg launched a second attack on Thursday, focusing on property in Florida, acquired by Liberty Health Sciences. The forensic academic firm claims that buyers, not just buying assets, acquired it through a newly established company, charging shell owners about $ 5 million in six days. Hindenburg argues that this deal was carried out under the supervision of Neufeld.

Hindenburg also claims that "unnamed buyers have bought 242 million shares of Liberty in a highly dynamic private placement of $ 0.001," just days after Aphria announced a plan to buy its shares at 208 times higher.

The Hindenburg report also states that Neufeld has paid 280,450 shares but has actually taken over over 2.4 million. Neupl said on Friday that one of the reports said it was a written mistake set on Thursday.

"The shares I bought 280 450 shares for some reason were extrapolated to over 2.4 million, giving the Hindu people the suspicion that I have not bought 2.1 million shares," he said. "This is a mistake made by Liberty Health Sciences and our law firm, and they have already corrected it and indicated the correction."

Neufeld said that Africa still "goes through the pros and cons" to sue those behind the reports.

"Do we have to understand at the end of each trial whether we will succeed in something? What I do not want to do is to lose money to shareholders and the time for managing the contractors to something that can end with zero realization. that we have not said no, but we have not said yes.

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