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Aphria Set to Tango with Argentina Pharma Firm

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Aphria Inc. (TSX:APH) said it has signed an exclusive supply agreement with an Argentina-based pharmaceutical import and distribution company

SmallCapPower | March 22, 2018: Aphria Inc. (TSX:APH) Wednesday announced the signing of an exclusive supply agreement with an Argentina-based pharmaceutical import and distribution company, which is licensed to import, sell and distribute medical products and derivatives in Argentina. Currently, the importer is seeking an import license for cannabis into Argentina.

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Aphria CEO Vic Neufeld said, “We are excited to enter the Argentinean market through this initial supply agreement. We see tremendous potential for medical cannabis in several emerging markets in South America, including Argentina. As the leading low-cost supplier of high-quality medical cannabis, Aphria will continue to expand its global leadership through strategic investments, partnerships and exclusive agreements such as this one.”

According to the terms of the agreement, Aphria will exclusively supply marijuana products to the importer for the Argentine market. As per the importer’s request, the financial terms and name of the importer are not being released.

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In another development Wednesday, the shareholders of Nuuvera Inc. (TSXV:NUU) voted in favour of a special resolution for sanctioning the proposed plan of arrangement with Aphria, previously announced on January 29, 2018. As per the arrangement, Aphria will acquire all the issued as well as the outstanding shares of Nuuvera that it doesn’t already own.

Aphria currently trades at a market capitalization of $2.46 billion on the TSX with price-to-earnings multiple of 72.89x. However, the outlook for Aphria seems positive as the Company is expanding its production capacity and seeking partnerships so as to meet the increasing demand for both medical cannabis and expected recreational cannabis usage.

Disclosure: Neither the author nor his family own shares in the company mentioned above.

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jsteppke
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