Also licensed under the ACMPR, much like other companies on the Canadian marijuana stocks, Aphria is located in Learnington, Ontario.
The company self-describes itself as “truly powered by sunlight”, which they state allows for natural growing conditions to produce safe medical cannabis products.
Last June, the company announced it expects to more than double its growing capacity—the company’s board approved in September a $24.5 million project increasing its greenhouse square footage from 100,000 to 300,000 square feet, expected to be completed later this year. The company expects that the expansion will be able to bump growing capabilities from 5,500 kilograms to 18,000 kilograms annually.
Aphria is also in the midst of completing its previously disclosed 57,000 square foot Part II expansion, is on target for full crop rotation by June 2017. In early February, the company announced that it moved from the TSX Venture Exchange to the TSX Exchange. A week later, Aphria announced a $50 million bought deal financing.
Putting it simply, 2017 has also been a busy year for Aphria, and with the legalization date set for recreational use, that isn’t about to stop. In April, the company announced it had secured a $100 million raise–$75 million of which will be used for a bought deal equity financing, with the remainder a debt financing through a five-year term loan. In early July, the company announced it had received a major wholesale supply agreemnet with Scientus Pharma, a licensed dealer under Health Canada.