NEW YORK, NY / ACCESSWIRE / April 25, 2017 / Traders News Source, a leading independent equity research and corporate access firm focused on small and micro-cap public companies is issuing a comprehensive report with no obligation on Aphria Inc. (OTCQB: APHQF), a Canadian company that produces, supplies, and sells medical cannabis. On April 20, 2017, the company announced that it had raised C$100 million in financing. The net proceeds will be allocated equally between Part IV of the company's expansion plan and working capital needs.
Aphria is in the midst of a multi-phase expansion program. Upon completion of Part II, the company expects that annual production capacity will reach 5,500 kilograms of dried cannabis and 9,000 litres of cannabis oil. The Canadian government recently introduced Bill C-45 to fully legalize cannabis. Although the exact timeline is uncertain, many expect legalization to occur within the first half of 2018. Medical sales by licensed producers are already legal, but it remains unclear exactly how recreational sales will be regulated.
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The proposed legislation does state that licensed producers under the ACMPR will become licensed producers under the new Cannabis Act. Therefore, existing producers with established operations and access to financing, such as Aphria, Organigram, and Canopy Growth, would be well-positioned to capitalize on new market opportunities.
On April 19, 2017, Aphria announced a joint deal with Tetra Bio-Pharma for the distribution of dried medical cannabis in Quebec and the Maritime provinces. Based on the success of the arrangement, Tetra and Aphria may expand into other provinces. Commercial operations are expected to begin in the summer of 2017, with revenue being recognized shortly thereafter.
According to data from Arcview Market Research, North American consumers spent $6.7 billion on legal cannabis products in 2016, a 34 percent increase from the prior year. By 2020, this figure could grow to $18 billion.
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SOURCE: Traders News Source