Aphria Cannabis Expansion May Require $18mm Power Plant Investment

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The Windsor Star broke a story about licensed producer Aphria (TSXV: APH) (OTC: APHQF), which is considering building its own power plant.  The company is rapidly expanding to add capacity in front of legalization in 2017 or 2018, and it is contemplating the addition of 700K sq. ft. of greenhouse space, a project that will require 15 to 18 megawatts of power.

We don’t have confidence that Hydro One can supply the power we need.

Vic Neufeld CEO of AphriaVic Neufeld, CEO of Aphria

Building its own power plant could cost $18mm, and CEO Vic Neufeld estimates the overall expansion will cost $50-60mm. Aphria has about $100mm in the bank following several capital raises over the past year, including a $40mm round that closed last week. Neufeld also disclosed that the company now has about 10K active registered patients.

Read Doug Schmidt’s “Leamington grower Aphria has huge, multimillion-dollar recreational pot plans”: http://windsorstar.com/news/local-news/leamington-grower-aphria-has-huge-multimillion-dollar-recreational-pot-plans

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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.

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