We have routinely covered APHRIA INC COM NPV (OTCMKTS:APHQF) here on Street Register as it has grown considerably over the last year or so, and the company continues to not only engage in its own growth but also enter into agreements with other growers and distributors to further increase its network. One such arrangement is with TSXV-traded Nuuvera (NUU).
Nuuvera works with partners in Germany, Israel and Italy, and is exploring opportunities in several other countries, to develop commercial production and global distribution of medical grade cannabis in legalized markets. Through its subsidiaries, ARA – Avanti Rx Analytics Inc. and Avalon Pharmaceutical Inc., Nuuvera holds a Dealer License (GMP) under the Narcotic Control Regulations and Office of Controlled Substances.
Earlier this month, APHRIA INC COM NPV (OTCMKTS:APHQF) announced that it had entered into a strategic relationship with Double Diamond Farms (Dubbed “GrowCo”) to provide Aphria with 120,000 kgs of annual cannabis production, and Nuuvera and Aphria announced shortly thereafter that they were negotiating a definitive offtake agreement for half of such production. The now executed definitive offtake agreement will supply Nuuvera with 60,000 kgs of such annual cannabis production.
Combined with Nuuvera’s existing offtake of 17,000 kgs from Aphria’s Talbot Street Campus, Aphria will supply a total of 77,000 kgs of cannabis production to Nuuvera, which Aphria anticipates will be available for sale in January 2019, pending Health Canada approvals.
“I am delighted to report that, through this offtake agreement, Nuuvera has now secured the supply necessary to accelerate our initiatives internationally and here in Canada,” said Nuuvera CEO, Lorne Abony. “Our comprehensive partnership with Aphria has long been a core strength of Nuuvera. Today this partnership has grown even stronger with the expansion of our offtake arrangement, through which Nuuvera further leverages Aphria’s best-of-breed know-how in harnessing the power of the sun to grow trusted, consistent and medical-grade cannabis.”
“This extension adds to our valuable distribution agreement with Nuuvera and advances our international expansion plans,” said Vic Neufeld, Chief Executive Officer of Aphria. “The scale of our growing operations in Leamington, especially with the recent addition of Double Diamond Farms, enables us to adequately supply Nuuvera with medical-grade cannabis to accelerate their global strategy. We look forward to continuing to meet the needs of our partners and creating additional shareholder value.”
As previously announced, Aphria, holding a controlling 51% interest in GrowCo, will supply its Standard Operating Procedures, quality oversight and will apply for a second Health Canada cultivation license for the site. Double Diamond, a 49% partner in GrowCo, will supply the land, existing infrastructure, employees and new state of the art, Dutch style greenhouses for the venture. The 100-acre GrowCo site is located on Highway 77 in Leamington, Ontario and abuts the 100-acre site of Nuuvera’s to-be-constructed Leamington campus. (Source: Canada News Wire)
When it comes to pharmaceutical grade cannabis in Canada, Aphria is among the top names and its continually rising chart is a good representation of that. With 2018 set to be Canada’s biggest year ever for cannabis, we will be very interested to continue to follow along with its activites. As always , 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.