Skip to main content

Aphria Inc. has issued more than 1.6 million common shares to Emblem Cannabis, a subsidiary of Aleafia Health, as part of a previously announced settlement.

Aphria signed a deal in 2018 that called for it to provide 175,000 kilograms of cannabis to Emblem over five years.

Emblem later claimed that Aphria had not met its supply obligations and cancelled the agreement, kick-starting arbitration.

As part of their settlement, announced June 25, Emblem was to receive $10 million worth of stock, $15 million in cash and a waiver of claimed receivables.

Based on Monday trading prices, the 1.6 million shares issued by Aphria would be worth about $9.5 million.

Aphria shares were at $5.99 in late afternoon trading, up seven cents from Friday. Aleafia shares were down 3 cents at 47 cents.

Editor’s note: A previous version stated that Aleafia shares have not been traded since June 1.

Be smart with your money. Get the latest investing insights delivered right to your inbox three times a week, with the Globe Investor newsletter. Sign up today.

Report an error

Tickers mentioned in this story