TORONTO, Aug. 21, 2017 /CNW/ - Aphria Inc. (TSX: APH)
("Aphria") and Liberty Health Sciences Inc. (CSE: LHS)
("Liberty") jointly respond to the TMX Group Statement
Regarding Regulatory Engagement.
Vic Neufeld, Chair of Aphria and
Liberty, announced today that, "We are pleased to receive
confirmation from the TMX Group that there is no CDS ban on the
clearing of securities of issuers with marijuana-related activities
in the U.S. and we look forward to continuing our ongoing dialogue
with the TSX and CDS in respect of this matter. We are also
pleased to receive further confirmation from the TMX Group that
they are working with regulators to arrive at a solution that will
clarify this matter for issuers, investors, participants and the
public."
Vic Neufeld continued, "Aphria's
common shares have traded on the TSX and previously the TSX Venture
Exchange for almost 3 years during which time we have raised over
$216 million from investors by way of
five offerings by short form prospectus, all of which have been
settled by CDS, and we look forward to this continued support from
the TMX Group."
George Scorsis, Chief Executive
Officer of Liberty, also added, "We concur with the TMX Group that
working with regulators on a solution that will clarify this matter
for all Canadian capital market participants is desired and
required and we are prepared to work collaboratively with
regulators to achieve this end result on a timely basis."
In addition to the TSX and CDS, Aphria's securities continue to
trade on the OTCQB and it is a client of the Depositary Trust
Company ("DTC") and any trades in its securities are
eligible to be settled via DTC. Similarly in the case of Liberty,
in addition to the CSE and CDS, its securities currently trade on
the OTC grey market and it expects that its securities will be
listed on OTCQX and that trades in its securities will be eligible
to be settled via DTC over the next several weeks.
Aphria has had marijuana related activities in the US since 2015
which has been reflected in its continuous and timely disclosure
record, including its Copperstate transaction, which was approved
by the TSX Venture Exchange prior to its closing. Liberty's
principal asset in the US is the recently acquired Florida license and operations as disclosed in
the Information Circular of SecureCom Mobile Inc. (the predecessor
corporation of Liberty) dated June 19,
2017. For all US based operations, both Aphria and Liberty
are operating in compliance with the official guidance from both
the US Treasury Department and the US Department of Justice through
banks compliant with the federal government directives. Both Aphria
and Liberty will continue to work with their governmental advisors
at the federal level to provide assistance to governmental
officials with the ongoing US policy making initiatives related to
medical cannabis in the Unities States.
Aphria and Liberty will both continue to focus on their existing
strategies for the medical cannabis industry in Canada and the
United States, respectively. Specifically, the focus is to
supply the growing demand in both countries for reliable and
affordable medical grade marijuana to improve the quality of
people's lives. Each of Aphria and Liberty will continue to monitor
and work with its US and Canadian advisors on strategies to timely
and effectively respond on behalf of its stakeholders to any new
policy initiatives in both Canada
and the United States within the
medical cannabis industry.
About Aphria
Aphria Inc., one of Canada's
lowest cost producers, produces, supplies and sells medical
cannabis. Located in Leamington,
Ontario, the greenhouse capital of Canada. Aphria is truly powered by sunlight,
allowing for the most natural growing conditions available. Aphria
is committed to providing pharma-grade medical cannabis, superior
patient care while balancing patient economics and returns to
shareholders. Aphria was the first public licenced producer to
report positive cash flow from operations and the first to report
positive earnings in consecutive quarters.
For further information please contact:
Nina Godard
Edelman
nina.godard@edelman.com
416-455-6324
Vic Neufeld
President & CEO – Aphria Inc.
1-844-427-4742
About Liberty Health Sciences Inc.
Liberty Health Sciences Inc. is an investor and operator in the
medical cannabis market, capitalizing on new and existing
opportunities in the United
States. Liberty's stringent investment criteria
for expansion maximizes returns to shareholders,
while focusing on significant near and
mid-term opportunities. Liberty has an
extensive background in highly regulated industries, with expertise
in becoming a low-cost producer. Liberty leverages commercial
greenhouse knowledge to deliver high-quality, clean and
safe pharmaceutical grade cannabis to patients.
For U.S. media inquiries, please contact:
Rebecca Hood
Edelman
rebecca.hood@edelman.com
407.452.4906
For Canadian media inquiries, please contact:
Matt Salvatore
Edelman
matt.salvatore@edelman.com
613.315.7362
George Scorsis
CEO – Liberty Health Sciences
gscorsis@libertyhealthsciences.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", "potential", "believe",
"intend" or the negative of these terms and similar expressions.
Forward-looking statements in this news release include, but are
not limited to, expectations related to future expansion and growth
strategies and opportunities; and statements with respect to
internal expectations and beliefs regarding the practices of how
its securities are traded and settled; policy positions and
regulatory frameworks for the U.S. cannabis market; and
expectations for future growing capacity and costs, both in
the United States and
domestically. 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
cannabis industry in Canada and
the United States 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, including
those risks that have been previously disclosed in Aphria's
previously filed offering documents and in Liberty's management
information circular dated June 19,
2017.
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.
SOURCE Aphria Inc.