Canadian marijuana producer Aphria Inc. on Friday announced a deal to sell its holding in Arizona cannabis company Copperstate Farms to Liberty Health Sciences Inc. for $20 million. The move is aimed at helping Aphria avoiding issues with Canadian equity markets and regulators. A recent report suggested Aphria is planning to sell 25 per cent of its 38 per cent stake in Liberty. Amid a sell-off in marijuana stocks, Aphria shares were down more than 10 per cent Friday on the TSX at $13.88. The Canadian cannabis market has seen a wave of consolidation recently with Aurora Cannabis striking a deal to acquire CanniMed, while Leamington, Ont.-based Aphria buying Broken Coast Cannabis in a $230-million agreement.

Source: CBC News February 02, 2018 14:35 UTC