The Aphria Executive Director resigns, sources said, due to questions about the production of cannabis,


Part of cannabis and investment

Vic Neufeld is visible in the Aphria glasshouse in Leamington, Ont., In 2014.


Vic Neufeld will resign from the post of chief executive officer of Aphria Inc., sources say when the cannabis manufacturer will find a replacement for him, the company announced on Friday.

It is expected that Aphria, who is confronted with questions about the production and decrease in the price of shares, will say that she is starting to look for someone who will replace Mr. Neufeld is at its highest position since 2014. The company, one of Canada's largest Canadian manufacturers, will also release quarterly results on Friday.

A company based in Leamington, Ont., Hopes to attract a reputable executive director with global knowledge and experience to get into Mr. People were given anonymity by the Globe and Mail because the person was not allowed to speak publicly about the matter. The company did not specify the departure date of Mr. Neufeld, who will resign as a member of the Aphrie Management Board, sources said.

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Aphria and Mr Neufeld did not respond to requests for comment.

The expected forecast of his departure came weeks after Aphria was given two short sellers in a report criticizing nearly 300 million US dollars for the purchase of marijuana property in Colombia, Argentina and Jamaica. The report provided photographs and documents showing that the funds are not important and are worth the work of this amount.

Aphria challenged the report, but it established an independent board committee to examine these allegations. Last month, Mr. Neufeld stepped aside as a chair and made room for independent director Irwin Simon.

Aphria also came under fire yesterday, after The Globe reported that Mr. Neufeld, the other directors and his Finance Director personally owned the undisclosed shares of Nuuvera Inc., when Aphria bought the company for $ 425 million. Aphria said that these investments are insignificant and that they do not need to be disclosed in accordance with company law.

Mr Neufeld helped to cultivate Aphrya to one of Canada's largest cannabis producers; has a market capitalization of approximately $ 2 billion. Prior to joining Aphrii, he was 21 years old director of Jamieson Laboratories Ltd., where he headed a vitamin company of $ 20 million in annual sales of up to $ 250 million. Prior to this, he worked for 15 years as a partner at Ernst & Young.

It is also expected that Aphria will announce on Friday that co-founder Cole Cacciavillani, an industrial engineer and greenhouse responsible for the growing activity of Aphrie, will leave the company. Aphria and Mr Cacciavillani did not respond to requests for comment.

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