The Financial Post reports in its Wednesday edition that two weeks after Canopy Growth announced an expansion into Latin America, rival cannabis grower Aphria plans a "proposed acquisition" worth $200-million which would see it acquire two companies in South America and take a sizable stake in a Caribbean marijuana producer. The Post's Mark Rendell writes that the assets -- in Colombia, Argentina and Jamaica -- are owned or are in the process of being acquired by Aphria's sister company Scythian Biosciences, and held by a Scythian subsidiary Latam Holdings Inc. In return for Latam Holdings, Aphria will issue Scythian 15.7 million shares, "for aggregate transaction consideration of $193 million ... at a deemed share price of $12.31," according to a press release. That equates to 6.3 per cent of Aprhia's outstanding shares and would make Scythian the largest single Aphria shareholder. Aphria would also assume $1-million (U.S.) of Scythian's debt. Canadian cannabis companies, including Canopy, are increasingly targeting Colombia as a prime agricultural setting with export channels to the rest of Latin America. The country legalized cannabis cultivation for export as well as domestic medical use two years ago.