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Aphria Inc. (TSX: APHA, NASDAQ: APHA) has expanded its Solei® brand to include topicals, introducing products like Unplug, Balance, and Free Moments. These topicals feature high potency, with up to 500mg cannabinoids per container, and cater to a broad consumer base seeking accessible cannabis options. Solei® Balance and Unplug are now available in Ontario, while Free and Free Unscented will launch in February 2021. The new offerings reflect Aphria's commitment to meeting consumer needs and enhancing its market presence.
SweetWater Brewing Company announces the launch of Oasis® Premium Hard Seltzer, aiming to elevate the hard seltzer market. Set to hit stores this week, Oasis® offers four unique flavors: Raspberry-Lemon, Strawberry-Kiwi, Mango-Passionfruit, and Black Cherry-Lime. Each 12oz can contains only 100 calories, 1g carbs, 1g sugar, and 5% ABV. Chef Freddy Bensch emphasizes the focus on organic superfruit and electrolytes, catering to health-conscious consumers. The introduction marks a significant step in SweetWater's expansion into the burgeoning hard seltzer category.
SweetWater Brewing Company has announced its expansion into Colorado, marking its furthest western market. The launch will introduce popular brews like 420 Extra Pale Ale and H.A.Z.Y IPA starting February 1, 2021. This move follows SweetWater's acquisition by Aphria Inc. (APHA) in November 2020. SweetWater aims to leverage its established presence in Telluride, where it has been a sponsor at the Telluride Ski Resort. The brewery will partner with local distributors for statewide reach, bringing its award-winning lineup to consumers, enhancing its brand visibility in the craft beer industry.
Aphria Inc. reported Q2 FY2021 net revenue of $160.5 million, a 33% increase from the prior year, while achieving adjusted EBITDA of $12.6 million. This marks the seventh consecutive quarter of positive adjusted EBITDA. Adult-use cannabis gross revenue soared 149% year-over-year to $72.1 million. The company's cash cost per gram decreased to $0.79. Aphria completed the strategic acquisition of SweetWater, enhancing its U.S. market strategy and projected synergies of over $100 million with the upcoming Tilray merger.
The cannabis sector experienced robust growth in 2020, with the U.S. market significantly outperforming Canada. While the Canadian adult-use market was valued at US$2.5B in October 2020, California alone reached $2.8B in 2019, highlighting the U.S.'s larger market potential. Regulatory improvements in the U.S. have fostered opportunities for profitability. Item 9 Labs reported a 65% revenue increase to $8.1 million for FY 2020, driven by production growth and strong demand. Upcoming opportunities include the opening of Arizona's adult-use market and a merger with ONE Cannabis Group.
Aphria Inc. (APHA), a leading global cannabis company, will announce its financial results for the second quarter and six-months ending November 30, 2020 on January 14, 2021. A conference call to discuss these results will take place at 9:00 AM ET, with dial-in options available for both Canada and international locations. The details will also be available via live webcast on Aphria's website, which will remain archived for 30 days. As a cannabis producer based in Leamington, Ontario, Aphria focuses on innovation and sustainable growth.
Aphria Inc. has announced the launch of Pipe Dream, a new proprietary cannabis strain from its brand Broken Coast. Developed after 15 months of testing, Pipe Dream features high THC levels (18-24%) and a unique spicy-gas flavor profile. The strain is available in BC with plans for national rollout (excluding Quebec). This launch follows Broken Coast's recent expansion into the 2.0 market with new 510 vape products, showcasing Aphria's commitment to innovation and quality in the cannabis sector.
Aphria Inc. (TSX: APHA) announced that its adult-use brands, including Good Supply, Solei, RIFF, and Broken Coast, won six awards at the 2020 kind Awards based on votes from over 150 Canadian budtenders. This recognition highlights Aphria’s strong brand quality and market presence. Notably, Good Supply secured the 'Cartridge of the Year' for multiple strains, and Solei was awarded 'CBD Brand of the Year.' Aphria continues to focus on product innovation, as evidenced by its recent expansion of 510 vape offerings.
Aphria Inc. announced the completion of its strategic acquisition of SweetWater Brewing Company, valued at USD 250 million in cash and USD 50 million in stock. This acquisition, aimed at expanding Aphria's product range and consumer reach, aligns with the cannabis lifestyle market. Irwin D. Simon, CEO, highlighted the potential for growth in the U.S. market ahead of federal legalization. The transaction was financed through existing cash reserves and funds raised from an equity program, with SweetWater's management team being integrated into Aphria's operations.
Aphria Inc. announced an expansion of its 510 Vape offerings across major brands, including Solei's limited edition Gather Frosty Mint vape. The new products aim to meet diverse consumer preferences and tap into the growing vape market, which is projected to represent up to 20% of adult-use cannabis sales in Canada. Aphria holds the number one market share in Alberta and Ontario, boasting a 184% revenue growth in adult-use cannabis products last fiscal year. Upcoming launches include larger volume 1g vapes from RIFF, Good Supply, and Broken Coast.
