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“That fractionated distillate can be converted into hundreds of other products — powders, creams, patches, infused beverages, edibles. It represents the foundation and cornerstone of everything else that is to come,” said Merton. “This lets us get ready for the next wave of things and the wave after that no one even knows about yet.”

Aphria announced two other moves Wednesday that will increase its annual cannabis production by 30,000 kg to 255,000 kg.

Aphria is spending $20 million to support “alternative growing techniques” at its Diamond facility, which is expected to increase capacity by 20,000 kg, bringing the yearly haul there to 140,000 kg. As well, Aphria announced a $10-million expansion of greenhouses on property acquired in 2017 that is expected to boost cannabis production by an additional 10,000 kg.

This $85 million expansion plan is being funded through a $225 million agreement announced Wednesday with Clarus Securities Inc., which has agreed, on behalf of a group of underwriters, to purchase on a “bought deal basis” nearly 19 million common shares at $11.85 per share. Aphria shares finished trading Wednesday at $12.79, up 63 cents or 5.18 per cent.

The remaining money from the Clarus deal will be used to further Aphria’s global expansion plan and the domestic plan to expand the workforce in Essex County, said Merton.

Leamington Mayor John Paterson called it an “exciting” day for the town. He said Aphria was well on its way to becoming the town’s largest employer.