Canadian company Aphria Inc. says it is preparing to expand its cannabis business into South America and Jamaica by acquiring a subsidiary of Scythian Biosciences Inc. for an undisclosed price.
The Ontario-based company says it will establish a presence in Colombia and several other countries by acquiring several companies through the purchase.
In Jamaica, Aphria will acquire Marigold Projects Jamaica Ltd. which has several licences to cultivate, process and sell cannabis products and services for therapeutic, medical and scientific purposes.
Aphria's expansion follows Canopy Growth Corp.'s announcement earlier this month that it has acquired a Colombian medical marijuana company in exchange for shares valued at about $45.7 million.
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