Leamington Marijuana Producer Expanding
Leamington-based marijuana producer Aphria continues to expand.
The company has signed a deal to buy Broken Coast Cannabis, a cannabis producer on Vancouver Island.
The deal is valued at $230-million in cash and stock.
Broken Coast operates an indoor cannabis production facility on Vancouver Island that it is expanding. As part of the transaction, Aphria has approved a further expansion project that is expected to increase the facility's annual capacity to 10,500 kg per year (more than 23,000 lbs).
The deal is anticipated to close by Wednesday, January 31, 2018.
On Monday, January 8th, 2018, Aphria announced a deal valued at nearly $100-million dollars to buy a newly built greenhouse by Double Diamond Farms on Highway 77. That will provide the company with an additional 120,000 kg (264,000 lbs) of cannabis production to go along with Aphria's existing 1000,000 kg (220,000 lbs).
The move is being made as Canada prepares to legalize marijuana later this year.