APHRIA INC (OTCMKTS:APHQF) And Nuuvera Finalize Offtake Deal For Surplus Cannabis Production

APHRIA INC (OTCMKTS:APHQF) have executed a previously reported definitive offtake deal for surplus cannabis production of 60,000 kgs. On January 8, 2018, the entered into a strategic association with Double Diamond Farms to provide company with annual cannabis production of 120,000 kgs, and Aphria and Nuuvera reported on January 11, 2018 that the companies were discussing a definitive offtake deal for half of such production. This now executed definitive offtake deal will supply Nuuvera with annual cannabis production of 60,000 kgs.

The buzz

Combined with Nuuvera’s current offtake of 17,000 kgs from company’s Talbot Street Campus, Aphria will offer cannabis production of 77,000 kgs to Nuuvera, which company expects will be offered for sale in next January, pending Health Canada approvals. Lorne Abony, the CEO of Nuuvera, reported that he is delighted to post that, through this offtake deal, Nuuvera has now obtained the supply necessary to boost their initiatives in Canada and internationally.

Their comprehensive association with Aphria has been a major strength of Nuuvera. Presently this association has become stronger with the expansion of their offtake deal, through which Nuuvera further uses Aphria’s best-of-breed technology in harnessing the sun power to grow consistent, medical-grade and trusted cannabis. Vic Neufeld, the CEO of Aphria, reported that this extension adds to their valuable distribution deal with Nuuvera and advances their global expansion plans.

The scale of their growing businesses in Leamington, particularly with the recent addition of Double Diamond Farms, allows them to adequately supply Nuuvera with medicinal-grade cannabis to boost their global plan. They look forward to continuing to fulfill the needs of their partners and enhancing additional shareholder value.

As previously reported, Aphria, having a controlling 51% stake in GrowCo, will offer its Standard Operating Processes, quality oversight and will file for a second Health Canada grow license for the location.

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