Proactive Investors - Run By Investors For Investors

Aphria shares climb in pre-market after securing joint venture with brand manager Perennial

Perennial has teamed up with companies like Coca-Cola and Home Depot Canada
Scientist in a lab coat holding a marijuana plant leaf
The cannabis company is partnering with Perennial to develop wellness-focused products

Aphria Inc (NYSE:APHA) shares were on the rise after clinching its joint venture with brand manager Perennial as it looks to create consumer-driven cannabis brands.

Edibles and marijuana-infused beverages have been all the rage lately, but the companies said the partnership will look beyond just those two segments to offer a wide range of wellness-focused cannabis products.

"The brands that stand the test of time are the ones created with an understanding of the marketplace, an original and effective answer to a consumer need, and a message that's relevant to people's lives," said Chris Lund, Perennial’s Chief Innovation Officer, in a press release.

Shares jumped more than 4% to US$13.18 in Wednesday pre-market and added about 2% in New York trading.

READ: Canadian cannabis company Aphria plans to list on NYSE to boost liquidity, investor interest

Perennial, a subsidiary of DATA Communications Management Corp, has more than two decades of experience under its belt.

It has partnered with brands like Royal Bank of Canada (NYSE:RY), Loblaw Companies Limited (TSE:L), McKesson Canada (NYSE:MCK), The Coca-Cola Company (NYSE:KO), and Canadian arm of The Home Depot Inc (NYSE:HD).

Aphria president Jakob Ripshtein appears confident that the partnership will propel the company forward, stating that the future of the cannabis industry will be driven by consumer-focused research and development.

The Ontario-based company, which made its debut on the New York Stock Exchange in October, produces pharmaceutical-grade medical cannabis.


Contact Lenore Fedow at [email protected]

Follow her on Twitter@LenoreMariee

Join Proactive’s Crypto, Blockchain and Cannabis Telegram group here
View full APH profile View Profile

Aphria Timeline

Related Articles

A WeedMD greenhouse
January 21 2019
WeedMD produces cannabis and cannabis oil for both the medical and adult-use markets
muffins and cannabis
November 29 2018
Dehydratech is essentially a delivery system that allows drugs and vitamins to get into the bloodstream quicker, while making them taste and smell better at the same time
cannabis facility
January 23 2019
The company will capitalize on the need for indoor-grown, pharmaceutical-grade cannabis
Copyright ©, 2019. All Rights Reserved - Proactive Investors North America Inc., Proactive Investors LLC

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use