Aphria Achieves $6mm Private-Sector Financing at Low Borrowing Cost

Aphria Logo

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 CEO of AphriaVic 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.

Published by NCV Newswire
NCV Newswire
The NCV Newswire by New Cannabis Ventures aims to curate high quality content and information about leading cannabis companies to help our readers filter out the noise and to stay on top of the most important cannabis business news. The NCV Newswire is hand-curated by an editor and not automated in anyway. Have a confidential news tip? Get in touch.

Get Our Sunday Newsletter