Aphria Inc. (OTCMKTS:APHQF) has obtained a license revision from Health Canada that provides it with additional production area of 57,000 square feet. This is done as part of company’s Part 2 expansion at its Leamington facility. This will almost triple company’s production capacity of medicinal cannabis to 8,000 kgs annually and from 2,600 kgs annually.
The Health Canada license revision falls under the “ACMPR”. Aphria reported that the first crop grown and produced at the Part 2 expansion will be accessible for sale in the month of August. Vic Neufeld, the CEO, reported that the license amendment records the conclusion of the second part of company’s four-part expansion strategy, set to be done by July 2018.
This will enable them to continue to manufacture high-quality cannabis at best possible prices in the industry. The expansion will support greenhouse footprint of company to become the largest in the market and achieve on long-term strategic plan.
Aphria is one of the lowest cost manufacturers in Canada that produces, supplies and offers medical cannabis. Based in Leamington, the company has all the natural growing conditions available to support cannabis production. The company intends to offer pharma-grade medicinal cannabis, best patient care while matching patient economics and returns to stockholders.
Aphria became the first public licensed manufacturer to post positive cash flow from its cannabis operations and also the first to record positive fiscal earnings in sequential quarters.
Earlier in this month, the company released its Seed to Sale approved quality promise so as to progress with its plans of grow and production of safe and clean medicinal cannabis.
In the last trading session, the stock price of Aphria declined 0.82% to close the day at $4.21. The decline came at a share volume of 128,479 compared to average share volume of 350,116. After the last trading session, the market cap of firm stands at around $585 million.
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