Aphria Inc (TSX: APHA) (NYSE: APHA) Strong Since Recent UpListing

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Aphria Inc  (TSX: APHA) (NYSE: APHA) has been on a steady rise in recent days since the Company uplisted to the NYSE on November 2 under the ticker symbol “APHA”. The Company’s ticker symbol on the Toronto Stock Exchange (TSX) also changed from “APH” to “APHA”. At the time of the listing

Aphria CEO Vic Neufeld said “Listing on the NYSE provides Aphria with access to the largest equity market in the world, with increased exposure to a vast array of US institutional and retail investors. This strategic move aligns directly with our growth ambitions as we enter an elite peer group of respected, high-profile corporate brands listed on the NYSE.”

Aphria Inc  (TSX: APHA) (NYSE: APHA) “we have a good thing growing” is a leading Canadian cannabis company licensed to produce and sell medical cannabis under the provisions of the Access to Cannabis for Medical Purposes Regulations(“ACMPR”) located in Leamington, Ontario, the greenhouse capital of Canada. was founded in 2014 by Cole Cacciavillani and John Cervini, who were Leamington greenhouse operators. Vic Neufeld, formerly CEO of Jamieson Laboratories, a Canadian vitamin company stepped in as CEO of Aphria. The Company was granted a license to produce and sell medical cannabis by Health Canada in 2014 and made its first wholesale shipments in April 2015.

The Company’s facility in Leamington, Ontario in currently being expanded; work continues to rapidly advance on the 700,000-square-foot Part IV expansion, which Aphria anticipates will have its first sale early next year. The Part III expansion added 200,000 square feet of production space and more than tripled Aphria’s production capacity from 9,000 kg annually to 30,000 kg annually. When completed early next year, the fully expanded facility (referred to as Aphria One) will provide over 1,000,000 square feet of production space with an annualized capacity of 100,000 kg. Combined with the Company’s Double Diamond Farms location (referred to as Aphria Diamond) and its B.C.-based subsidiary Broken Coast Cannabis, Aphria’s fully-funded production capacity is anticipated to be approximately 230,000 kg per year by early 2019.

Aphria is doing huge sales; Revenue for the three months ended August 31, 2018 was $13,292k representing a 10% increase over the prior quarter’s revenue of $12,026k and a 217% increase over the same period last year. The increase in the quarter was driven primarily by increased wholesale orders, accounting for 313 kgs. The increase in wholesale orders was comprised of approximately 200 kgs of cannabis trim sold to other LPs, to properly balance inventory levels of specific strains that were not in demand by the Provincial Control Boards and approximately 100 kgs of dried cannabis and cannabis oil, supplied to third party partners conducting clinical drug trials. Cannabis oil sales, as a percentage of volume, increased from 29.2% to 39.1% in the quarter, driven primarily by an internal formula change for our equivalency factor. On a year-over-year basis, revenue in the quarter increased 217.2%.

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Earlier this year Aphia announced a $55 million capital project to build a state-of-the-art Extraction Centre in Leamington, ON. The facility will be equipped to conduct a wide range of cannabis extractions, including C02, butane and ethanol, and produce world-class cannabis concentrates, including fractionated distillates. Construction of the new Extraction Centre of Excellence is expected to begin immediately and the facility is scheduled to release its first concentrates by March 2019. The custom designed facility will house two Class 1/Division 1 extraction rooms as well as production, packaging facilities and will have the capacity to process in excess of 200,000 kgs of cannabis annually.

Aphria started trading on the NYSE on November 2 under the ticker symbol “APHA”. The Company’s ticker symbol on the Toronto Stock Exchange (TSX) also changed from “APH” to “APHA”. At the time of the listing Aphria CEO Vic Neufeld said  “Listing on the NYSE provides Aphria with access to the largest equity market in the world, with increased exposure to a vast array of US institutional and retail investors. This strategic move aligns directly with our growth ambitions as we enter an elite peer group of respected, high-profile corporate brands listed on the NYSE.”

On November 1 Aphria announced its Australian-based partner Althea Company Pty Ltd. (“Althea” or the “Australian Company”) has been granted a Manufacture Licence by the Australian Government’s Office of Drug Control. The license provides Althea with authorization to manufacture extracts and tinctures of cannabis and cannabis resin in accordance with relevant manufacture permits. Through a previously announced exclusive supply agreement with Aphria, Althea commenced importing and supplying five co-branded medicinal products to eligible patients in Australia in the form of cannabis oil and dried flower, generating sales revenue starting in May 2018.

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Currently trading at a $2.9 billion market valuation Aphria has $273 million in the treasury, another $45 million in marketable securities and well over $1 billion in assets. Aphria has fast growing massive revenues reporting $13,292,000 in sales for the three months ended August 31, 2018 representing a 10% increase over the prior quarter’s revenue of $12,026k and a 217% increase over the same period last year. Aphria led by Vic Neufeld and a strong management team with production capacity set to exceed 250,000kgs by early 2019 holds a commanding position in the Canadian cannabis industry.The recent move to the NYSE gives Aphria increased exposure to a vast array of US institutional and retail investors. We will be updating on Aphria when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with Aphria.

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Disclosure: we hold no position in Aphria either long or short and we have not been compensated for this article.

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