Canadian producer invests $3M in Arizona medical marijuana grower

Aphria, a federally licensed Canadian medical marijuana producer, increased its investment in an Arizona MMJ grower by $3 million.

Aphria now owns 5% of Copperstate Farms LLC through its subsidiary, Aphria (Arizona), and Copperstate Farms Investors controls the remaining 95%, according to a news release.

Aphria, based in Leamington, Ontario, on March 22 became the third Canadian MMJ company to publicly trade on the Toronto Stock Exchange.

Copperstate owns about 1.7 million square feet of greenhouses in Snowflake, Arizona, and plans to have approximately 348,000 square feet – a tad over 20% of the entire site – of that space in operation for medical cannabis production by the fall. The company is currently using about 6,000 square feet of that space for cannabis cultivation, according to the news release.

The Arizona Department of Health Services must still approve the expansion, according to Aphria.

Copperstate estimates the expanded operation could produce approximately 39,600 pounds of cannabis annually. The grower expects its first harvest from the expanded site in early summer and a full harvest later in the year.

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3 comments on “Canadian producer invests $3M in Arizona medical marijuana grower
  1. Mike on

    So they plan on producing annually what the entire patient base of Arizona consumed all of last year? What could possibly go wrong?!

    • Robert Hempaz, PhD Trichometry on

      One word … Leakage. The US Supreme Court in the last case of #MedMj reviewed by that court stated it was President Franklin Roosevelt (D) – New York who coined the restriction a-way back in the day when he was trying to boost grain prices for farmers. Some rogue #GOP farmer was selling his wheat beyond the federal quota, Pres Roosevelt’s admin sued, and the case went all the way to the then US Supreme Court. That bench ruled excess crop “leakage” could be controlled by the Federal government. Which is why the most modern US Supreme Court bench ( that bench included Judge Scalia, now deceased ) sez the Federal government, through the DEA, an agency set up by the US Congress and controlled by the Executive branch can go after any form of Mj, #RecMj, #MedMj, or Hemp to prevent “leakage”. Isn’t Copperstate owned by a previous Az Governor’s son? Yep … Fife Symington the 4th was tagged as the “manager” of the facility up in Snowflake, Az. C=> … Wow! Dig a little deeper! Copperstate sold $100,000 minimum investments to at least (15) entities. Big money is investing in Copperstate. I wonder if #RecMj will pass in Arizona, now that the Mormons up in Utah have approved of research into Cannabis to go along with out-of-state CBD purchases. 60% of the current batch of Arizona legislators, both State Senators and members of the House of Representatives belong to the Church of Latter Day Saints.

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