APHRIA INC (OTCMKTS:APHQF) and Nuuvera announced recently that they have completed executing a previously defined off-take agreement for extra 60,000kgs of the cannabis production. Similarly, Aphria signed a strategic partnership with Double Diamond Farms to offer Aphria with additional 120,000kgs of cannabis production every year.
According to Lorne Abony, CEO of Nuuvera, the off-take agreement will ensure a constant supply of necessary raw materials to enhance the projects the company runs across the globe and in Canada.
Nuuvera has a comprehensive partnership with Aphria and the recent offtake agreement has strengthened the bond between the two firms through which Nuuvera would further leverage Aphria’s technological know-how in production of trusted, consistent and best brees of the medical cannabis.
Under the terms of the agreement, Aphria will supply the company with a total of 77,000kgs of extra cannabis production which it expects to make it available by early January 2019 after the pending Health Canada approvals are made.
According to Vic Neufeld, CEO of Aphria, the extended contract will add value to the Nuuvera’s distribution partnership and advances its global expansion plans. For instance, the scale of production in Leamington which recently obtained the Double Diamond Farms would allow Aphria to consistently and adequately supply Nuuvera with best grade medical cannabis to enhance the worldwide strategy.
Aphria holds about 51% shares in GroCo, which would enable it to supply its renowned Standard Operating Procedures, quality supervision and application for the second Health Canada farming license for the site. Similarly, GrowCo, will give out the required 100-acre of land, infrastructure, employees, and technological know-how including the Dutch style greenhouses for the initiative. As a result, Aphria is looking forward to constantly meet and exceed the needs of its partners and create additional value to its shareholders.
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Aphria is generally committed to providing its clients with high-quality medical cannabis products to support and improve the lives of patients who use the products to cure various illnesses.