By Justin Bellmore
LEAMINGTON - Aphria Inc. has entered into a binding letter agreement to acquire 100% of the issued and outstanding share capital of Broken Coast Cannabis Inc., a premium cannabis producer located in British Columbia.
As part of the transaction, Aphria approved the immediate commencement of Broken Coast's Phase IV expansion.
The 60,000 sq. ft. expansion is expected to cost under $20 million and will increase the facility's annual capacity from 4,500 kgs per year to 10,500 kgs per year.
This acquisition brings Aphria's forecast annual production to 230,000 kg and turns Aphria into a cross-Canada distribution platform, with access to over 40,000 medical patients.
The expansion is anticipated to be completed by late summer 2018, with first product sale occurring in early 2019.
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