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Aphria’s Australian Partner Gets Cultivation License
Mar. 15, 2018 09:57AM PST
Cannabis Investing NewsAphria announced its Australian-based partner Althea obtained a medical cannabis license from the Australian Government’s Office of Drug Control to cultivate medical cannabis.
Aphria (TSX:APH; OTC:APHQF) announced its Australian-based partner Althea obtained a medical cannabis license from the Australian Government’s Office of Drug Control to cultivate medical cannabis.
As quoted in the press release:
The License provides Althea with authorization to cultivate medical cannabis, enabling the Australian Company to begin immediate construction on a state-of-the-art greenhouse facility in Victoria.
Aphria currently holds a 25 [percent] ownership interest in Althea stemming from a $2.5 million investment announced in January 2018. At the same time the Company announced an agreement with Althea to supply packaged co-branded cannabis oil and dried flower products for the Australian medical cannabis market, until such time as the Australian Company establishes domestic production. It is anticipated that Althea-produced medical cannabis will continue to be co-branded with Aphria, sustaining the Company’s brand presence in the Australian market.
“We are thrilled that our Australian partner has received its license to cultivate medical cannabis,” said Vic Neufeld, CEO of Aphria.
Source: www.newswire.ca
