Breakouts are important, and a new one might well be setting up in Aphria Inc (OTCMKTS:APHQF). The stock just popped back above its major moving averages and may be further set to push to new 3-month highs through the $10/share level if it gains another notch of momentum. Recent catalysts may be helping to push this breakout, and there’s a good chance you would do well to have it on your radar.

The company just announced that its Malta-based subsidiary ASG Pharma, a high-capacity EU GMP-certified lab, is the recipient of the first import license for medical cannabis issued by the Malta Medicines Authority. According to the release, “The license will allow ASG to import medical cannabis for analytical testing and research and is an important step that will enable ASG to become a cornerstone in testing, research and development of medical cannabis in Europe.”

Aphria Inc (OTCMKTS:APHQF) bills itself as a company that produces, supplies, and sells medical cannabis in Canada. Its cannabis products include dried flowers and cannabis oils. APHQF sells its products through its online store and telephone orders, as well as MMPR licensed producers.

The company offers sativa, indica, and hybrid medical marijuana products, as well as cannabis oils. It also provides support services in the form of medical consultations, group therapies, and rehabilitation to veteran and first responders.

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The company sells its products through its online store or phones, as well as engages in the wholesale shipping of medical marijuana plant cuttings and dried buds to other licensed producers. Aphria Inc. is headquartered in Leamington, Canada.

According to press materials, “APHQF is one of Canada’s lowest cost producers, produces, supplies and sells medical cannabis. Located in Leamington, Ontario, the greenhouse capital of Canada. APHQF is truly powered by sunlight, allowing for the most natural growing conditions available. We are committed to providing pharma-grade medical cannabis, superior patient care while balancing patient economics and returns to shareholders. We are the first public licensed producer to report positive cash flow from operations and the first to report positive earnings in consecutive quarters.”

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Traders will note 12% during the past week in terms of shareholder gains in the listing. In addition, the listing has benefitted from a jump in recent trading volume to the tune of 13% beyond its prior sustained average level.

“Malta’s legislative and regulatory standards are extremely rigorous, and we are pleased and proud that the MMA has awarded this import license to ASG,” said Antonio Costanzo, Head of International Development at Aphria. “ASG adheres to the highest international standards and we look forward to upholding this high bar as a leading European hub for medical cannabis.”

“Our EU GMP-certified lab in Malta will not only be a leading European center for R&D and testing, but also will provide a gateway to medical cannabis markets across Europe,” said Vic Neufeld, CEO of Aphria. “We continue to pursue the most attractive strategic opportunities for medical cannabis in Europe and around the world, and this initial license sets the stage for ASG’s long-term future as Aphria’s processing, manufacturing and distribution hub for the entire continent.”

Earning a current market cap value of $1.96M, APHQF has a significant war chest ($119.4M) of cash on the books, which must be weighed relative to about $8.6M in total current liabilities. One should also note that debt has been growing over recent quarters. APHQF is pulling in trailing 12-month revenues of $30.6M. In addition, the company is seeing major top-line growth, with y/y quarterly revenues growing at 100.6%. We will update the story again soon as further details emerge. Sign-up for continuing coverage on shares of $APHQF stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in $APHQF, either long or short, and we have not been compensated for this article.