APHRIA INC COM NPV (OTCMKTS:APHQF) is one of those stocks that we do our best to check in with as often as we can, so we’d like to circle back around to a couple of updates that came down from the company late last week.
One has to do with a recent agreement with a large Canadian distribution firm, and other pertains to its recently acquired Nuuvera subsidiary.
APHRIA INC COM NPV (OTCMKTS:APHQF) has signed an agreement with Great North Distributors, a wholly-owned Canadian subsidiary of Southern Glazer’s Wine & Spirits, to serve as exclusive manufacturer’s representative for Aphria’s adult-use cannabis products throughout Canada, following the legalization of recreational cannabis for adult-use anticipated later this year.
Under the terms of the agreement, Great North Distributors will be Aphria’s exclusive cannabis representative in Canada. The first-of-its kind deal gives Aphria 100% coverage of all cannabis retailers, whether provincially or privately operated, across Canada from the first day of legal adult-use sales.
“With this agreement, Aphria has established an unparalleled sales network, and will hit the ground running from the very first day of legal adult-use sales,” said Jakob Ripshtein, Chief Commercial Officer of Aphria. “Great North Distributors provides us with an experienced, dedicated team with a proven track record of driving sales and exceptional performance across all provinces. This deal will ensure that Aphria’s brands and products are proudly represented by cannabis retailers throughout the country.”
As a subsidiary of Southern Glazer’s, North America’s largest wine and spirits distributor, Great North Distributors has reach across every province across Canada, including established relationships and expertise in working with provincially owned and operated retailers and private retailers alike. Great North Distributors will establish a dedicated cannabis sales team that will be responsible for acting as the selling agent of Aphria’s broad portfolio of adult-use cannabis brands and products to provincial retailers throughout Canada, from the most populated cities to the most remote locations.
Doug Wieland, Executive Vice President and General Manager, Southern Glazer’s Wine & Spirits Canada commented on the ground-breaking deal, “Our decision to become the first beverage alcohol distributor to facilitate the legal distribution of cannabis in Canada reinforces our innovative, first-mover position in the industry. We are thrilled to partner with cannabis industry leader Aphria, and to leverage our experience and expertise to ensure the efficient, legal, and safe distribution of cannabis in Canada.” (Source: Canada Newswire)
In other news for Aphria released the same day, its wholly-owned subsidiary Nuuvera Deutschland GmbH has acquired a 25.1% interest in Berlin-based Schöneberg Hospital. The acquisition facilitates Deutschland’s long-term strategy to educate German physicians and patients and advance evidence that supports the effectiveness of medical cannabinoids. It is also the first step in Deutschland’s plans to build and operate pain treatment centers throughout Germany. The number of German medicinal cannabis patients, currently estimated at 33,000, has grown rapidly following the passage of “Cannabis as Medicines Act” in March 2017. Similar to the successful approach in Canada, medical cannabis in Germany is only available with a prescription. (Source: Canada Newswire)
We have followed APHQF’s activities for a long time, and are quite pleased with the pace at which the company continues to expand its reach into cannabis markets at homoe and around the globe.We’ll be sure to continue looking out for key events. 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 small cap 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.