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Home 🌿 Cannabis Technology News 🌿 Aphria invests $1million for expansion of marijuana production 🌿Aphria invests $1million for expansion of marijuana production
After only 3½ months of operation, Leamington’s Aphria Inc. is spending $1 million to expand its medical marijuana production.
The investment is part of a two-phase expansion plan for the business that just began operations in December. Startup costs were $6 million.
The phase one investment will increase the current growing capacity of 1,200 to 1,500 kilograms of marijuana to 2,500 kg annually.
But Aphria CEO Vic Neufeld said that’s still not enough to keep up with the growing demand.
“It’s not enough for us to service this business opportunity,” Neufeld said Wednesday of wholesale demand that has developed in the last two months.
“The wholesale model of selling plants (happens) at the propagation or cutting stage (the first five weeks of the plant’s growth),” Neufeld said, adding this is only one level of additional sales volume.
“We’re rounding third base … in terms of acquiring dried marijuana (business) on a...
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