We go over news in APHRIA INC COM NPV (OTCMKTS:APHQF) quite often here on Street Register, and there have been a couple of notable developments since our last mention of the stock roughly one month ago. At that time, we had been talking about the company’s closing on a round of financing, and we’ve been waiting on some operational updates.
Those came along in the form of two really exciting PR’s, one dealing with the Canadian company’s ability to export approved cannabis products to international markets, as well as its Tokyo Smoke partner augmenting its retail presence with a new location.
We’ve just learned this week that APHRIA INC COM NPV (OTCMKTS:APHQF) reached a key milestone as part of its expansion strategy, obtaining its Dealer’s License pursuant to the Controlled Drugs and Substances Act under Health Canada. This permits the Company to possess, sell and transport medical cannabis oil and resin to international markets.
“There is an incredible appetite for high-quality medical cannabis in legal markets around the world. Obtaining our Dealer’s License is a significant milestone in our international expansion strategy as it enables Aphria to have greater control over importing and exporting medical cannabis oil globally,” said Vic Neufeld, CEO of Aphria. “This license will accelerate our speed to international markets and broaden our patient base internationaly, resulting in greater revenue for Aphria.”
As mandated by Health Canada, import and export permits from the relevant international and Canadian regulatory authorities are required for all transactions to international markets.
Aphria is well positioned to meet the increasing international demand for medical cannabis in legal markets like Australia, Italy, Germany andArgentina. Aphria is rapidly completing its four-part expansion of its fully-funded facility in Leamington, Ontario, which will increase the greenhouse growing footprint to one million square feet and increase capacity to supply more than 100,000 kgs of high-quality cannabis at one of the lowest costs in the industry. (Source: Canada Newswire)
Also this week, Aphria reported that its Tokyo Smoke partner would be expanding its retail operations with a new store Calgary, Alberta, set to open on December 7th, marking the brand’s first shop outside of Ontario. Tokyo Smoke Beltline (1205 1st St. SW) will open in the popular downtown Beltline neighborhood and share the stylish, inviting, modern aesthetic of the flagship store in Toronto, both designed by DesignAgency.
Tokyo Smoke will reportedly open several other stores by the end of 2017: as a part the PATH in downtown Toronto, James Street in Hamilton and Pike Place in Seattle (as a part of the Thompson Hotel), as well as additional locations across Canada in 2018.
“Calgary is an ideal first city for our expansion for a few reasons. The Prairies have been extremely receptive to Tokyo Smoke’s vision of creating beautiful retail and cannabis experiences. Calgary has been quite supportive of us since we launched over two years ago,” said Alan Gertner, CEO and co-founder of Tokyo Smoke. “When the opportunity to grow out West in partnership with Leo’s Group came up, we jumped at it. There’s already a nice amount of buzz and anticipation for our Prairie stores, and we can’t wait to welcome Albertans through our doors.” (Source: Canada Newswire)
The timing of this expansion couldn’t be any better, with nationwide legalization of cannabis set to take effect just 8 months from now. At the rate Tokyo Smoke is expanding, it should have a significantly larger presence by that time. We’ll be very interested to track the story along the way.We’ll stay up on any further developments with APHQF and pass them along to you! Stay locked on StreetRegister.com and be sure you’re signed up for our 100% free smallcap newsletter. It’s as easy as that! Simply submit your primary active email address in the box below. Subscribe now!
Disclosure: No one at Street Register has been compensated in any way for the publishing of this article, nor do we hold any position in APHQF stock, short or long.