Aphria takes medical marijuana model to U.S. with $25 million investment in Florida

Medical marijuana producer Aphria Inc. is expanding into the lucrative U.S. market with an initial $25 million investment to set up shop in Florida, which recently legalized pot for medical use.

The foray is its first major step in a U.S. expansion strategy through a series of transactions. The result will be a new company called Liberty Health Sciences Inc., a subsidiary of Canadian Securities Exchange-listed SecureCom Mobile Inc. that will acquire Chestnut Hill Tree Farm, which is one of the seven companies licensed in Florida to dispense marijuana to patients.

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Source: Aphria takes medical marijuana model to U.S. with $25 million investment in Florida