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APHRIA INC (OTCMKTS:APHQF) Responds To CSA Staff Notice

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Aphria Inc

APHRIA INC (OTCMKTS:APHQF) responded to both the “CSA” Staff Notice 51-352, Issuers with U.S. marijuana-linked activities and the TSX guidance on Section 306, Part VII and Section 325 of the TSX Company Manual, released on October 16, 2017.

The highlights

Vic Neufeld, the CEO of Aphria, expressed that they consider the new CSA staff notice offers an extremely balanced structure for the Canadian capital markets and they welcome the additional guidance on enhanced and specific disclosure requirements for U.S. marijuana-linked activities as they are pertaining the medical marijuana market in Canada. The company is on record as looking greater securities regulatory guidance for the buzzing medical marijuana industry in Canada and they consider the new disclosure framework also covering related risks will offer greater investor protection as well as increased credibility to industry.

The latest CSA Staff Notice specifically stated that that the disclosure-based method is premised on the assumption that pot-related activities are performed in compliance with the current regulations and laws of a United States state where such activities are legitimate, and the understanding that a United States federal government forbearance method to the enforcement of federal laws stays in place. Therefore, disclosure about the way a U.S. Marijuana Issuer guarantees compliance with state level regulatory outlines forms a vital part of the group’s disclosure expectations.

Neufeld continued that they at Aphria and at their joint venture associate, Liberty Health Sciences Inc., consider this approach to disclosure for pot marijuana firms in Canada is really representative of the prevailing U.S. legislative, political and regulatory environment.

In contrast, the company consider the TSX’s recent staff guidance pertaining the minimum listing guidelines to listed issuers and applicants in the marijuana segment fails to properly apportion the context and weight that must be applied to the present split between U.S. state and federal laws governing medical cannabis.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of journaltranscript.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure

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