Aphria Inc. (TSX: APH) announced on May 16th that the company has entered into a supply agreement with Colcanna SAS in Colombia. Colcanna is a fully-licensed company which imports and distributes medical products including medical cannabis.
Aphria now has the exclusive right to supply Colcanna with medical cannabis for the Colombian market and Colcanna is only allowed to purchase medical cannabis from Aphria.
None of the financial details in the supply agreement between Aphria and Colcanna are being released due to a request made by Colcanna.
Aphria sees Colombia as an emerging medical cannabis market that has great potential. Additionally, this agreement follows along with Aphria’s ambition to expand and become a global leader of medical and recreational cannabis products.
APH closed to a 1.38% decrease in value on the date of the announcement on the 16th. The value of APH has continued to fall since then by an additional 4.70%.
However, despite the recent decrease in value from this week, the value of APH has increased over the last month by 6.54%.