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Aphria signs LOI with CANNAVA to expand strategic Argentinian operations

Published 12/20/2018, 08:24 AM
© Reuters.  Aphria signs LOI with CANNAVA to expand strategic Argentinian operations
  • Aphria (NYSE:APHA) has signed a Letter of Intent ("LOI") with the Argentinian state-owned Cannabis Avatãra Sociedad del Estado ("CANNAVA") to enter into a cooperation agreement regarding the cultivation of cannabis that will expand the Company's strategic Argentinian operations into the Province of Jujuy.
  • Under the terms of the agreement, ABP is to establish a facility for the cultivation, processing and manufacturing of cannabis, as well as cannabis derivative products, including cannabis oil. We understand through CANNAVA, Jujuy will produce curative oils and medicines using cannabis sativa.
  • Financial terms are not disclosed.
  • Shares are up 4% premarket.
  • Now read: Everything Has Changed: The Big 5 Canadian Cannabis Companies Have Achieved 'Platform Status'


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