Aphria (APH:TSXV) sure knows how to make an entrance. The newly listed producer, supplier and seller of medical marijuana closed up 110% to $0.84 per share Monday.
It was among the most liquid stocks on the TSX Venture, after better than 1.8 million shares traded hands Monday.
While its liquidity was impressive the total number of individual trades totalled 549. This is significant and tells a story of immediate retail interest, especially when you consider it was Aphria’s first day trading in the public markets.
Aphria’s 110% gain came on a day where the TSX Venture fell 3.18%.
Clearly, investors didn’t seem to mind.
Aphria describes itself as in the business of producing, supplying and selling medical marijuana pursuant to the Marihuana for Medical Purposes Regulations (the “MMPR”).
The company announced this morning that,
On December 2, 2014, Aphria, formerly named Black Sparrow Capital Corp. announced shareholder approval of its previously announced business combination (the “Transaction”). The Transaction has now received all final approvals, including the final approval of the TSXV. The total number of issued and outstanding common shares of Aphria at the resumption of trading will be 52,479,587, expressed on a non-diluted basis.
Click here to read more.
Below is a short excerpt discussing ownership.
John Cervini, Chief Agronomist Officer of Aphria, was issued and has acquired control of, directly or indirectly, an aggregate of 11,500,011 common shares of Aphria in connection with the completion of the Transaction. As a result of the combination, Mr. Cervini collectively owns or controls, directly or indirectly, an aggregate of 11,500,011 common shares, and controls the right to acquire an additional 500,000 common shares upon the exercise of 500,000 incentive stock options. Such securities represent 21.9% of Aphria’s issued and outstanding common shares (or approximately 22.7% on a partially diluted basis assuming conversion of Mr. Cervini’s options)
Click here to read the entire press release.
Merriam-Webster.com defines Agronomy as:
a branch of agriculture dealing with field-crop production and soil management.
Agronomist’s in the medical marijuana sector are becoming a highly sought after commodity.
Aphria entered the public sphere the way many marijuana-related equities have in the past few years; with experience hopefulness and excitement by the public markets. Whether or not it can maintain such sentiment and deliver on its future is the question.
Aphria relished in its niche sector Monday, a day that saw the vast majority of TSX Venture stocks and commodity based equities hammered.
