Canadian licensed cannabis producer Aphria (TSXV: APH) (OTC: APHQF) announced today a $6mm financing at very attractive terms. WFCU Credit Union, based in Windsor and the sixth largest credit union in Ontario with over $2.4 billion in assets, provided a loan facility that consisted of a $3.75mm mortgage at 3.95%, a 3.99% term loan and an $1mm line of credit at Prime plus 0.75%.
The Aphria success story continues to resonate with all stakeholders. With our Part II expansion already in progress and fully funded, this financing provides us an even larger war chest for strategic opportunities as they present themselves or our contemplated Part III expansion.
Vic Neufeld, Chief Executive Officer of Aphria
The opportunity to partner with WFCU, an organization that is growing and dominating its own market, much like Aphria, cements Aphria’s objective of always moving forward and up-market with all our activities.
Aphria recently announced a $10mm capital project to raise its annual growing capacity from 2.5mm grams to 5.5mm grams and also closed on the purchase of additional land that will allow it further expand by 640K s.f. of growing space over time.
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