Aphria Inc (OTCMKTS: APHQF) Signs An Exclusive Supply Agreement With Colcanna SAS To Explore The Colombian Market
There is an incredible potential for medical cannabis in several emerging markets perhaps because of the upcoming legalizations by many governments. The emerging markets have resulted in various mergers and agreements, one of them being that of Aphria Inc (OTCMKTS: APHQF) and a Colombia-based pharmaceutical, Colcanna SAS. The agreement will not only boost the duo’s businesses but the market as a whole.
The two appreciate that each of them has different strengths. However, they will play different roles as outlined in the terms of the agreement. Aphria will exclusively be supplying cannabis products to Colcanna and particularly for the Colombian market. On the other hand, Colcanna will exclusively purchase medical cannabis products from Aphria.
Aphria’s strategies of expanding its global leadership
Every marijuana producer is seeking to tap into the slightest growth and expansion opportunity. Aphria, which is located in Leamington, Ontario, is one of Canada’s lowest cost producers. The seller and supplier of medical cannabis thrive in the commitment to providing superior patient care while at the same time balancing returns to shareholders.
The exclusive agreement with Colcanna will give Aphria an upper hand in the market even as it sets its pace of expanding its global leadership in the Colombian-market. The terms of the agreement are not known yet but Aphria’s strategies include investments and partnerships.
Aphria has also added depth to its leadership team
Aphria has not only achieved a business agreement but it has also made changes into its governance. The company has appointed, its first Chief Commercial Officer, Jakob Ripshtein. Till recently, the appointee served as Chief Financial Officer of Diageo North America while overseeing Diageo Canada’s overall operations and resources.
Speaking about Ripshtein’s appointment, the CEO of Aphria, Vic Neufeld said, “He brings an incredible track record and a depth of experience in regulated industries that will strengthen our commercial, sales and marketing operations and our entire organization.”
Other new appointments by the company include Christelle Gedeon who is taking the roles of the Company’s Chief Legal Officer. Gregg Battersby, the company’s Director of Operational Logistics, has been elevated to the position of Vice President of Commercial Strategy. Meanwhile, Michelle Latinsky and Jamie Policella will serve in the positions of the Company’s Director of Education and Training and as Director of Information Technology respectively.