Aphria Enters Landmark Venture Agreement with Cannivest Africa and Verve Group
Aphria Inc
. (OTC: APHQF) announced on May 28th that the company has entered into multiple agreements that resulted in a joint venture with Cannivest Africa Ltd. and Verve Group of Companies (VGC).
Aphria has agreed to acquire a 50% ownership stake in Cannivest and Cannivest will acquire 60% of VGC. The payment terms were a combination of share-for-share swap and cash payment of an estimated $3,145,215 USD.
Aphria intends to make Verve a supplier that supplies a low-cost, but high-grade, range of cannabis isolates for African recreational and medical cannabis markets. These isolates from Verve will also have distribution across the globe through Aphria’s international distribution network.
Aphria Enters Landmark Venture Agreement with Cannivest Africa and Verve Group
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