Aphria CEO explains the biggest opportunity in the Canadian weed business

• “There’s a $5 billion market out there [where] products are sold into the illicit market,” Aphria interim CEO Irwin Simons says.
• The company is working on “taking that away from the illicit market and building [our] brands and building consumer confidence,” he says in a sit down interview with “Mad Money’s” Jim Cramer.
• “This industry used to be about who can get the right press release out. It’s no longer about press release. Organic growth and making money and rewarding your shareholders,” he says.

Aphria interim CEO Irwin Simon said Monday that the biggest opportunity that he sees in the Canadian cannabis market is converting consumers from the black market to the legal one.

“There’s a $5 billion market out there [where] products are sold into the illicit market,” he said in a one-on-one with Mad Money’s Jim Cramer. The company is working on “taking that away from the illicit market and building [our] brands and building consumer confidence.”

The Canadian cannabis company, which has about a $1.8 billion market cap, makes and sells medical and recreational marijuana in that country. Canada legalized the weed business in October 2018.
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