APHRIA INC COM NPV(OTCMKTS:APHQF)
Last week, APHRIA INC COM NPV(OTCMKTS:APHQF) announced its first collaborative initiative with Labourers’ International Union of North America (LiUNA). Aphria’s partnering with LiUNA Local 625 as its primary provider of medical cannabis to members in Canada’s Essex and Kent counties brings the medical cannabis company a valued revenue channel. Local 625’s membership approximates 1,600 plus eligible dependents who will all have immediate, and full coverage, access to certain Aphria medical cannabis products.
The partnership gives 625 LiUNA Local members access to a range of fulfillment activities that will be provided by a nationally recognized Benefits Administrator, as well as Natural Health Services, one of Canada’s leading patient-centric medical cannabis clinics. These organizations will assist LiUNA members with cannabis education and physician services available through APHRIA INC COM NPV (OTCMKTS:APHQF).
Vic Neufeld, CEO of APHRIA INC COM NPV(OTCMKTS:APHQF) stated “Aphria is thrilled to be entering into a partnership with LiUNA, one of Canada’s fastest growing union. We’re always looking for new and innovative ways to support patients and, in joining forces with Local 625, we’ll be able to provide some of the hard-working Canadians in Essex and Kent counties access to our high-quality products at affordable pricing.”
This program’s objective is to reduce opioid usage and dependency by giving access to an alternate natural option for treating various chronic conditions. Opioid dependency has become a health emergency for both Canada and the U.S.A.
“The health and wellness of our members is of critical importance to LiUNA, and in launching this partnership with Aphria, we are taking a major step forward in improving the lives of our members,” says Rob Petroni, Business Manager of Local 625. ” Workplace injuries are far too often treated with opioids and their related effects, and medical cannabis will provide another treatment option.”
APHRIA INC COM NPV (OTCMKTS:APHQF) revenues skyrocketed from the $636,000 reported in FY2015 to $4.5 million reported in FY2016. Similarly, FY2015 had a net income loss of $5.2 million and that figure improved to a profit of $304,000 in FY2016.
I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.
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About the author: Steve Clark is a 23-year Wall St professional with stints in M&A, risk management, and algorithm trading. Steve keeps his head in the game by looking for, and writing about, small companies that often get overlooked by the big investment firms.