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Saturday, December 3, 2022

The Fast and Exciting Rise of Aphria Inc (OTCMKTS: APHQF)

Aphria Inc (OTCMKTS: APHQF) is making a highly explosive move up in recent days off tis base of just over $6 per share. The stock has transformed into a volume leader and is currently among the top most traded stocks on the OTCBB.

APHQF operates in the red hot cannabis market responsible for many of the hottest stocks on the OTCBB. The sector continues to be red hot as legal marijuana sales are expected to grow to more than $20 billion by 2022, from approximately $10 billion in 2018, according to Marijuana Business Daily. Once legal recreational cannabis goes on sale in October in Canada the flood gates will open for Companies such as Aphria.

Aphria Inc (OTCMKTS: APHQF) bills itself as a leading global cannabis company driven by an unrelenting commitment to our people, product quality and innovation. Headquartered in Leamington, Ontario – the greenhouse capital of Canada – Aphria has been setting the standard for the low-cost production of safe, clean and pure pharmaceutical-grade cannabis at scale, grown in the most natural conditions possible. Focusing on untapped opportunities and backed by the latest technologies, Aphria is committed to bringing breakthrough innovation to the global cannabis market. The Company’s portfolio of brands is grounded in expertly-researched consumer insights designed to meet the needs of every consumer segment. Rooted in our founders’ multi-generational expertise in commercial agriculture, Aphria drives sustainable long-term shareholder value through a diversified approach to innovation, strategic partnerships and global expansion, with a presence in more than 10 countries across 5 continents.

In May Aphria formed a joint venture CannInvest Africa Ltd.  As part of the transaction CannInvest acquired an interest in Verve Dynamics Inc., a licensed producer of medical cannabis extracts in Lesotho.  The Transaction is valued at C$4.05 million. Verve will supply high-grade low-cost cannabis isolates to the African continent and, through Aphria International’s distribution network, to markets across the globe.

Verve is located in The Kingdom of Lesotho, the first African country to introduce licenses for the cultivation, extraction, sale and exportation of cannabis for medical use. CannInvest’s partner in Verve is the Matekane Group of Companies (Pty) Ltd. (“MGC”) founded by Sam Matekane a prominent and well-respected Basotho businessman. MGC is an award-winning company involved in a multitude of industries including construction, mining, farming, hospitality, property management, and aviation.

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.

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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 Diamond and Aphria’s Boards of Directors approved a $20 million increase to the CAPEX budget for Aphria Diamond, which will be used to further improve the technologies at the facility.  It is anticipated that these improvements will increase Aphria Diamond’s capacity by 20,000 kgs annually, bringing its total capacity to 140,000 kgs annually.  The improvements will support alternative growing techniques, enabling Aphria to develop innovative growing processes.

A $10 million build out of newly constructed state of the art greenhouses on a portion of the 18-acre adjacent property acquired in late December 2017, was approved by the Board of Directors. Once operational, Part V will take advantage of key learnings from previous expansions, will be dedicated to young plant cultivation, and will lead to an overall yield increase of 10,000 kgs annually.

Combined, all operational changes noted above will result in an increased capacity of 30,000 kgs, bringing Aphria’s total annualized capacity to 255,000 kgs. 

Earlier this year Aphria signed a Supply Agreement with the Manitoba Liquor and Lotteries Corporation to provide a portfolio of high-quality, branded cannabis and cannabis derivative products for sale in Manitoba’s adult-use market. Under the terms of the Agreement, the Company will supply up to 2.7 million grams of cannabis and cannabis derivative products in the first year of the agreement, including both Ontario and BC dried flower, pre-rolls and cannabis oils.

On August 21, APHQF announced it has entered in a supply agreement with the Ontario Cannabis Store to provide high-quality, branded cannabis products for sale online in Ontario’s adult-use market. Adult-use consumers will have an extensive selection Ontario and B.C.-grown cannabis from across the Company’s portfolio of adult-use brands. Under the terms of the Agreement, the Company will supply 59 SKUS of cannabis and cannabis derivative products in the first year of the agreement. The range of products will be available for sale online through the OCS.

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Currently trading at a $2.5 billion market valuation Aphria has $59 million in the treasury and another $45 million in marketable securities. The Company is well funded moving forward with very little debt on the books. Aphria has fast growing revenues announcing $36.9 million in sales in 2018 compared to $20 million in 2017. Once recreational cannabis hits in October Aphria, led by Vic Neufeld and a strong management team with production capacity set to exceed 250,000kgs by ealry 2019 will be well positioned to become a market leader in the Canadian cannabis industry. We will be updating on APHQF when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with APHQF.

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

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