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Aphria Inc. has filed an amended base shelf prospectus increasing the amount available by USD $50 million to support the acquisition of SweetWater Brewing Company. This brings the total potential securities offering to USD $550 million over a 25-month period. Aphria will use this funding to issue common shares and other securities necessary for the acquisition and future capital needs. The SEC registration statement is pending effectiveness. Investors are cautioned about forward-looking statements related to potential risks and uncertainties impacting Aphria's business.
Aphria Inc. (TSX: APHA, NASDAQ: APHA) announced the successful election of all seven director nominees during its Annual Meeting of Shareholders on November 17, 2020. The meeting was conducted virtually to ensure shareholder safety amid the COVID-19 pandemic. All resolutions proposed in the management information circular dated September 23, 2020, were approved by the requisite majority. Among the elected directors, Irwin D. Simon garnered 90.41% of the votes in favor. The firm continues to focus on low-cost, high-quality cannabis production and innovation to enhance shareholder value.
Aphria Inc., a leading global cannabis company based in Leamington, Ontario, will participate in a fireside chat at the Jefferies Virtual London Healthcare Conference on November 18, 2020, at 9:05 a.m. ET. The discussion aims to share insights and innovations in the cannabis sector. Investors can access a live webcast on Aphria’s website, which will be archived for 90 days. The company is recognized for its low-cost, high-quality cannabis production and commitment to global expansion through strategic partnerships.
Aphria Inc. announced its acquisition of SweetWater Brewing Company for approximately USD $300 million, aiming to expand its market presence in the U.S. cannabis sector. The deal, unanimously approved by Aphria's Board, is set to close by December 2020. SweetWater, a leading craft brewer, posted net revenue of $66.6 million in 2019. This acquisition will diversify Aphria’s product offering, allowing cross-selling opportunities and access to SweetWater's distribution infrastructure. Aphria projects combined annualized net revenue of CAD $650 million to CAD $675 million post-acquisition.
ODI Pharma AB has executed a Supply Agreement with Aphria Inc.'s wholly-owned subsidiary, CC Pharma GmbH, despite COVID-19 delays. This agreement allows ODI to sell co-branded medical cannabis products in Poland for a term of five years, with a minimum supply of 1,200 kg annually, totaling 6,000 kg. CC Pharma will assist in securing regulatory approval for these products, enhancing operational efficiencies for ODI.
Aphria reported a 103% increase in net cannabis revenue to $62.5 million for Q1 FY2021, alongside a 23% rise in gross revenue from adult-use cannabis to $69.6 million. The adjusted EBITDA rose 11% to $10.4 million, reflecting robust growth in its cannabis brands. Despite a 16% year-over-year increase in total net revenue to $145.7 million, there was a 4% decline from the previous quarter due to lower distribution revenue impacted by COVID-19. The company maintained a healthy balance sheet with $400 million in cash.
Aphria Inc. has completed its first EU GMP shipment of dried cannabis to its German subsidiary, CC Pharma, facilitating the launch of sales in Germany by Q2 FY2021. This milestone strengthens Aphria's position in the lucrative European market, leveraging a robust distribution network. The company is also set to complete a cultivation facility in Neumünster by Q2 FY2021. Additionally, Aphria launched several CBD wellness brands in Q1 FY2021, broadening its product offerings.
Aphria Inc. will announce its financial results for the first quarter of fiscal 2021, ending August 31, 2020, on October 15, 2020. The conference call is scheduled for 9:00 am ET, with options for both Canadian and international callers. The call will also be available via live webcast on Aphria's investor website. Aphria, based in Leamington, Ontario, focuses on low-cost, high-quality cannabis production and aims to deliver innovation through strategic partnerships and global expansion.
Aphria Inc. (TSX: APHA, NASDAQ: APHA) is set to present at the 40th Annual Canaccord Genuity Global Growth Conference on August 13, 2020, at 3:00 p.m. ET. The presentation will be accessible via a live webcast on the Investors section of Aphria's website, which will remain archived for 30 days. Based in Leamington, Ontario, Aphria is a leader in the global cannabis industry, focusing on quality production, innovation, and sustainable growth strategies.
Aphria Inc. (TSX: APHA, NASDAQ: APHA) has announced a Strategic Supply Agreement with Canndoc Ltd., allowing Aphria to supply 3,000 kgs of dried bulk flower to Canndoc over two years. The co-branded products will be sold exclusively in Israel, strengthening Aphria's presence in international cannabis markets, alongside their existing position in Germany. The partnership may also include collaborative research initiatives. This agreement marks a significant step in expanding Aphria's global reach and validating its medical cannabis brand.
