Just after Aurora jumped over the NYSE, we put out a piece stating that Aphria Inc (OTCMKTS:APHQF) would be quick to follow in its footsteps. It fits the profile, with a major capacity operation well-established, a fortress balance sheet, massive growth, and no red flags in the books. That’s why we certainly were not surprised when we saw this: The company just announced that its common shares have been approved for listing on the New York Stock Exchange and will commence trading effective the open of markets on November 2, 2018.
“Listing on the NYSE provides Aphria with access to the largest equity market in the world, with increased exposure to a vast array of US institutional and retail investors. This strategic move aligns directly with our growth ambitions as we enter an elite peer group of respected, high-profile corporate brands listed on the NYSE,” said Vic Neufeld, Aphria CEO.
Aphria Inc (OTCMKTS:APHQF) bills itself as a company that produces, supplies, and sells medical cannabis in Canada. Its cannabis products include dried flowers and cannabis oils. APHQF sells its products through its online store and telephone orders, as well as MMPR licensed producers.
The company offers sativa, indica, and hybrid medical marijuana products, as well as cannabis oils. It also provides support services in the form of medical consultations, group therapies, and rehabilitation to veteran and first responders.
The company sells its products through its online store or phones, as well as engages in the wholesale shipping of medical marijuana plant cuttings and dried buds to other licensed producers. Aphria Inc. is headquartered in Leamington, Canada.
According to press materials, “Aphria is a leading global cannabis company driven by an unrelenting commitment to our people, product quality and innovation. Headquartered in Leamington, Ontario – the greenhouse capital of Canada – Aphria has been setting the standard for the low-cost production of safe, clean and pure pharmaceutical-grade cannabis at scale, grown in the most natural conditions possible. Focusing on untapped opportunities and backed by the latest technologies, Aphria is committed to bringing breakthrough innovation to the global cannabis market. The Company’s portfolio of brands is grounded in expertly-researched consumer insights designed to meet the needs of every consumer segment. Rooted in our founders’ multi-generational expertise in commercial agriculture, Aphria drives sustainable long-term shareholder value through a diversified approach to innovation, strategic partnerships and global expansion, with a presence in more than 10 countries across 5 continents.”
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As noted above, APHQF just announced that its common shares have been approved for listing on the New York Stock Exchange and will commence trading effective the open of markets on November 2, 2018. In all, we’ve witnessed 6% during the past week in terms of shareholder gains in the listing. Furthermore, the company has witnessed a pop in interest, as transaction volume levels have recently pushed 97% above the average volume levels in play in this stock over the longer term.
According to the release, “Aphria’s shares will trade on the NYSE under ticker symbol “APHA”. The Company’s ticker symbol on the Toronto Stock Exchange (TSX) will also change from “APH” to “APHA”, effective November 2, 2018. Existing shares of Aphria, which previously traded on the OTCQB under the ticker symbol “APHQF” will now trade on the NYSE.”
Mr. Neufeld added: “We are excited to usher in a new era with the recent legalization of adult-use cannabis in Canada and as we aim to further expand our footing in exciting markets such as Latin America, the Caribbean and Europe. Aphria is well-positioned to capitalize on this fast-growing industry.”
Now commanding a market cap of $3B, APHQF has a significant war chest ($314M) of cash on the books, which is balanced by about $54.9M in total current liabilities. One should also note that debt has been growing over recent quarters. APHQF is pulling in trailing 12-month revenues of $44.1M. In addition, the company is seeing major top-line growth, with y/y quarterly revenues growing at 117.2%. This may be a very interesting story and we will look forward to updating it again soon. Sign-up for continuing coverage on shares of $APHQF stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!
Disclosure: we hold no position in $APHQF, either long or short, and we have not been compensated for this article.