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Aphria Obtains License For 1.3M Square Foot Greenhouse, Doubling Canadian Production Capacity

November 4, 2019 8:55 am
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Aphria Obtains License For 1.3M Square Foot Greenhouse, Doubling Canadian Production Capacity

Aphria Inc. (TSX:APHA) (NYSE:APHA) said Monday it has obtained a Health Canada cultivation license for its Aphria Diamond cannabis greenhouse facility in Leamington, Ontario. 

The approval means the company is gaining an additional 1.3 million square feet of production space, with a growing capacity of 140,000kg per year, according to Aphria. 

When combined with its Aphria One facility and its subsidiary Broken Coast Cannabis, Aphria has in excess of 2.4 million square feet of cultivation space and a total annual production capacity of 255,000kg, the company said. 

 “We are extremely pleased to receive the licence for our long-awaited Aphria Diamond facility, which more than doubles our Canadian production capacity,” Irwin D. Simon, Aprhia’s interim CEO, said in a statement.

“Reaching industry-leading production levels coinciding with the expansion into new categories and new opportunities for cannabis in Canada and around the world is a transformative moment for Aphria Inc.”

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The company has 51% ownership of the Aphria Diamond subsidiary, through which Aphria entered a partnership with commercial greenhouse expert Double Diamond. 

Aphria Diamond contains the industrial-scale automated technology. 

Aphria’s shares traded 5.39% higher at $5.47 during Monday’s pre-market session.

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