Medical marijuana startup Aphria grabs $6.2 mln

Aphria has received $6.2 million in funding from The Delavaco Group. Also, the firm has named Vic Neufeld as CEO and founding investor. Previously, Neufeld worked at Jamieson Laboratories where he served as CEO. Based in Leamington, Ontario, Aphria is a medical marijuana startup. Its backers include Front St. Capital, York Plains and Broadband Capital.

PRESS RELEASE

WINDSOR, ONTARIO–(Marketwired – June 5, 2014)
Former Jamieson Laboratories CEO and President, Mr. Vic Neufeld, joins Aphria as chief executive officer and founding investor. Also, Delavaco Capital has completed an equity investment and $6.2M private placement funding for Aphria Inc.
As the new leader of Aphria, Vic brings significant entrepreneurial and business acumen to the natural alternative health care provider: Aphria. Vic’s experience, vision and commitment to quality healthcare alternatives will not only shape this new company based in Leamington, Ontario but will also lead the entire medical marijuana industry.
Vic previously served as CEO at Jamieson Laboratories, Canada’s largest manufacturer and distributor of natural vitamins, minerals, concentrated food supplements, herbs and botanical medicines. Vic brings 15 years experience as a chartered accountant and partner with Ernst & Young and 21 years leading Jamieson. When Vic began his career with Jamieson in 1993, the top five leading nutrition brands each had 7% market share respectively. Under Vic’s leadership, Jamieson outpaced the competition and increased its market share to 27%. During his tenure with Jamieson, Vic led the company from $20 million in annual sales to over $250 million and expanded the company’s distribution network to over 40 countries, building Jamieson to a globally recognized brand name.
Vic stated, “I am excited to take on this new challenge and pioneering role in this emerging industry. My past experiences and passion for quality health solutions will allow us to establish Aphria as a market leader. My vision is to build upon the foundation of quality and unique growing techniques established over many years by the Founders. My focus will be on establishing fully integrated sales and marketing strategies that will capitalize on Aphria’s many strengths as a low cost producer, and develop a dynamic and committed Management Team.”
At Aphria, we strive to be the best-in-class low cost grower and distributor of medical marijuana, providing the highest quality of natural alternative healthcare solutions to people in need. We apply simple science and innovative greenhouse technology that has been perfected and passed down over generations to produce a superior natural alternative that improves peoples lives and gives them relief and the opportunity to live their lives to the fullest potential. Our team strives to achieve quality standards and values while always complying with the highest degree of safety standards issued by Health Canada in order to ensure the safety of our customers and community. We are working to create an alternative natural healthcare solution for you. To learn more please visit us at, www.aphria.com.
The Delavaco Group (“Delavaco”) is a private equity firm controlled by Andy DeFrancesco. Delavaco’s objective is to combine access to capital, industry expertise, and extensive capital markets experience to create significant value in its investment portfolio. Aphria received support from several well-respected institutions including Front St. Capital, York Plains and Broadband Capital of NYC in addition to lead investors Delavaco Group and Michael Serruya.

 

 

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