Aphria Inc. (OTCMKTS:APHQF) has acquired a license amendment from Health Canada that offers it with added production region of 57,000 square feet. This is completed as part of firm’s Part 2 extension at its Leamington facility. This will virtually triple firm’s production capacity of therapeutic cannabis to 8,000 kgs yearly from 2,600 kgs yearly.
The Health Canada authorization revision is a part of the “ACMPR” process. Aphria posted that the first crop produced and cultivated at the Part II new area will be accessible for sale in the next two months. Vic Neufeld, who is the CEO, posted that the license amendment registers the conclusion of the next stage of firm’s four-part expansion plan, set to be closed by July 2018.
This will permit them to continue to produce high-quality cannabis at premium prices in the industry. The growth will support greenhouse mark of firm to become the biggest in the market and attain long-term strategic plan.
Aphria is included in the list of lowest cost Canadian producers that produces, supplies and sells therapeutic cannabis. Based in Leamington, the firm has all the natural conditions set to support cannabis production. The firm intends to provide pharma-grade therapeutic cannabis, best patient care while corresponding patient economics and yields to stockholders.
Aphria became the primary public licensed company to register positive cash flow generated from its cannabis activities. It is also the first cannabis firm to post positive fiscal revenue in sequential quarters.
The firm has released its Seed to Sale permitted quality promise so as to develop its plans of grow and manufacturing of safe and clean therapeutic cannabis.
In the previous trading session, the shares of Aphria declined more than 3% to close the day at $4.06. The drop came at a share volume of 168,347 compared to average share volume of 272,489.