• Connect with us
    • Information
      • About Us
      • Contact Us
      • Careers
      • Partnerships
      • Advertise With Us
      • Authors
      • Browse Topics
      • Events
      • Disclaimer
      • Privacy Policy
    • Australia
      North America
      World
    Login
    Investing News NetworkYour trusted source for investing success
    • North America
      Australia
      World
    • My INN
    Videos
    Companies
    Press Releases
    Private Placements
    SUBSCRIBE
    • Reports & Guides
      • Market Outlook Reports
      • Investing Guides
    • Button
    Resource
    • Precious Metals
    • Battery Metals
    • Base Metals
    • Energy
    • Critical Metals
    Tech
    Life Science
    Cannabis Market
    Cannabis News
    Cannabis Stocks
    • Cannabis Market
    • Cannabis News
    • Cannabis Stocks
    cannabis investing

    Aphria Signs Distribution Deal with BC Delivery Company

    Danielle Edwards
    Aug. 22, 2019 04:20PM PST
    Cannabis Investing News
    CSE:BOSS

    Aphria has signed a deal with ParcelPal to offer same-day delivery services to medical cannabis customers in Canada. The partnership will launch in Alberta.

    A BC-based delivery company has signed a deal with Canadian cannabis producer Aphria (NYSE:APHA,TSX:APHA) to offer same-day delivery of medical cannabis products.

    Through ParcelPal (CSE:PKG,OTC Pink:PTNYF), Aphria’s patient customers will be able to purchase products online from its e-commerce storefront — including softgels and cannabidiol (CBD) oil — and receive their orders via the ParcelPal platform, which allows delivery tracking in real time.

    ParcelPal CEO Kelly Abbott said Thursday (August 22) that the legal cannabis sector has “significant growth potential” for his company.

    “We are launching our legal cannabis delivery platform at the ideal time as legislation across the country continues to expand the addressable cannabis marketplace,” Abbott added.

    Canada’s medical marijuana market is expected to grow quickly over the next few years. A Statista report projects that medical cannabis will generate C$1.74 billion this year and C$2.35 billion by 2025.

    The new collaboration will kick off in the city of Calgary, Alberta. The delivery company has promised that consumers will be able to receive their goods within an hour.

    It’s unclear whether ParcelPal’s delivery deal with Aphria will be exclusive.

    In an interview with Forbes, ParcelPal Chairman Brian Storseth confirmed the Calgary launch, but added that these delivery services will also expand to Windsor and Toronto in Ontario.

    “We are thrilled to be working with Aphria, one of the largest (licensed producers) in Canada, and a major international player in the cannabis industry,” said Storseth.

    The marijuana market has been steadily increasing its delivery capacities. On Monday (August 19), California-based cannabis company MedMen Enterprises (CSE:MMEN,OTCQX:MMNFF) announced a new delivery service, complete with a rewards program.

    ParcelPal hopes its service will help curb driving under the influence of marijuana, as users will not need to pick it up themselves.

    Last month, ParcelPal made a similar deal with The Yield Growth (CSE:BOSS,OTCQB:BOSQF), a Canadian cannabis topicals company, to distribute hemp-based cosmetics from The Yield Growth’s subsidiary Urban Juve starting in Vancouver.

    In June, ParcelPal reported that it has made 2.5 million deliveries since starting operations in 2017.

    Abbot indicated that the company plans to expand its partnerships in all of its verticals, including the cannabis and liquor industries, which could offer higher margins for ParcelPal.

    The company also revealed a partnership with Canadian e-commerce company Shopify (NYSE:SHOP,TSX:SHOP) in June. It will integrate the ParcelPal app with Shopify’s digital platform, allowing licensed producers to ship to medical and recreational cannabis users across Canada.

    At the beginning of August, Aphria reported net revenue of C$128.6 million in its fiscal fourth quarter, an increase of 75 percent from Q3.

    ParcelPal shares opened at C$0.22 on Thursday and closed at C$0.19.

    Aphria’s shares opened at C$8.75 in Toronto on Thursday. By close, prices were at C$8.65. In New York, Aphria opened at US$6.60 and ended the trading day at US$6.50.

    Don’t forget to follow us @INN_Cannabis for real-time news updates!

    Securities Disclosure: I, Danielle Edwards, hold no direct investment interest in any company mentioned in this article.

    Editorial Disclosure: The Yield Growth is client of the Investing News Network. This article is not paid-for content.

    kelly abbottcannabis investingmedmen enterprisescanadacse:bossnyse:aphacse:mmencse:pkg
    The Conversation (0)

    Go Deeper

    AI Powered
    two people shaking hands to complete business agreement

    Cannabis Weekly Round-Up: Plus Products Gets Acquired

    Cannabis Weekly Round-Up: Tobacco Firm Expresses Cannabis Interest

    Cannabis Weekly Round-Up: Tobacco Firm Expresses Cannabis Interest

    Latest News

    More News

    Outlook Reports

    Resource
    • Precious Metals
      • Gold
      • Silver
    • Battery Metals
      • Lithium
      • Cobalt
      • Graphite
    • Energy
      • Uranium
      • Oil and Gas
    • Base Metals
      • Copper
      • Nickel
      • Zinc
    • Critical Metals
      • Rare Earths
    • Industrial Metals
    • Agriculture
    Tech
      • Artificial Intelligence
      • Cybersecurity
      • Gaming
      • Cleantech
      • Emerging Tech
    Life Science
      • Biotech
      • Cannabis
      • Psychedelics
      • Pharmaceuticals

    Featured Cannabis Investing News Stocks

    extractX

    More featured stocks

    Browse Companies

    Resource
    • Precious Metals
    • Battery Metals
    • Energy
    • Base Metals
    • Critical Metals
    Tech
    Life Science
    MARKETS
    COMMODITIES
    CURRENCIES
    ×