Aphria Inc.
TSX VENTURE : APH

Aphria Inc.

February 12, 2016 08:00 ET

Aphria's Approved Growing Space Doubles

Combined Facility Capable of Generating an Estimated $30 Million a Year

LEAMINGTON, ONTARIO--(Marketwired - Feb. 12, 2016) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

Aphria Inc. ("Aphria" or the "Company") (TSX VENTURE:APH) is pleased to announce that the Company has received a license from Health Canada for the production of cannabis under the Marihuana for Medical Purposes Regulations (Canada) ("MMPR") for its new Part 1 expansion in Leamington, Ontario.

Under the MMPR, the license amendment provides Aphria with additional production space of 22,000 square feet. In addition, over 7,000 square feet of additional infrastructure, including the Company's oil extraction room, chemistry laboratory and microbiology laboratory were approved. The Company anticipates its licensed capacity to increase over time as production and sales continue to grow. Based on new growing technologies added at the same time as the expansion, the Company estimates that the combined facility is capable of generating up to $30 million in sales annually.

"Aphria continues to deliver on its long-term strategic plan," said Vic Neufeld, Chief Executive Officer of Aphria. "The additional growing space allows us to meet increased demand for medical marijuana from our rapidly growing patient base. It moves us one step closer to oil extraction sales and provides production synergies that will lower our production costs per gram. Our first crop in the new space will be available for sale in mid-May."

About Aphria

Aphria Inc., a company continued under the laws of the Province of Ontario and based in Leamington, Ontario, is in the business of producing, supplying and selling medical marijuana pursuant to the MMPR. Under the MMPR, Health Canada is responsible for the oversight of commercial medical marijuana growers such as Aphria. Aphria's common shares are listed on the TSX Venture Exchange under the ticker symbol "APH". For more information, visit www.Aphria.com.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS: Certain information in this news release constitutes forward-looking statements under applicable securities laws. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as "may", "should", "anticipate", "expect", "believe", "intend" or the negative of these terms and similar expressions. Forward-looking statements in this news release include, but are not limited to, statements with respect to internal expectations, expectations for future growing and licensed capacity, annual sales expectations and expectations with respect to future production costs and synergies. Forward-looking statements necessarily involve known and unknown risks, including, without limitation, risks associated with general economic conditions; adverse industry events; marketing costs; loss of markets; future legislative and regulatory developments involving medical marijuana; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms; the medical marijuana industry in Canada generally, income tax and regulatory matters; the ability of Aphria to implement its business strategies; competition; crop failure; currency and interest rate fluctuations and other risks.

Readers are cautioned that the foregoing list is not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking statements as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement.

Neither the TSX Venture Exchange (the "Exchange") nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Aphria Inc.
    Vic Neufeld
    President & CEO
    1-844-427-4742