Company has a sound recreational strategy, uniquely
positioned to meet expected surge in demand
LEAMINGTON, ON, Sept. 8, 2017 /CNW/ - Aphria Inc.
("Aphria" or the "Company")
(TSX:APH)(OTCQB:APHQF) welcomes the Ontario government's proposed retail and
distribution model of legalized recreational cannabis, announced
earlier today. This marks an important step forward for the
province and a responsible step forward for the industry with the
introduction of a model that will help restrict access to youth,
protect the health and safety of Ontarians, and keep profits out of
the hands of the black market.
"The proposed approach by the Ontario government is a great beginning with
the earmarkings of a model that the cannabis industry can work with
as time marches on," said Vic
Neufeld, Chief Executive Officer of Aphria. "Aphria shares
the government's commitment to ensuring a safe and sensible
approach to the sale and distribution of recreational cannabis, and
we look forward to working with all levels of government to
position Ontario's cannabis market
as a global leader."
With the introduction of legalized recreational cannabis, Aphria
is uniquely positioned to meet the expected surge in demand from
Ontarians. We have a sound recreational strategy and plans are well
underway to offer consumers a variety of cannabis products that
meet the needs of the recreational market. Relative to our peers,
Aphria firmly believes that our approach to marketing, product
quality, safety and leveraging Aphria's pricing are all aligned
with the government's objectives. This prudent strategy
gives us a competitive advantage that will serve customers,
shareholders and Aphria, both now and as the industry grows."
"From day one, our expertise and experience has enabled us to
effectively grow to scale and become one of the lowest cost
producers. Our four-part expansion, expected to be completed in
July 2018, will bring Aphria's
greenhouse growing footprint to 1 million square feet and increase
our capacity to supply more than 100,000 kg of high-quality
cannabis. By leveraging our strengths, Aphria will be able to
adequately serve Ontarians as well as the rest of the country when
the recreational model is introduced in 2018.
"While access to the market for consumers is important, quality
and safety is paramount. The production of high-quality product has
always been Aphria's number one priority, no matter our size or as
the industry evolves. We strongly believe there needs to be
industry wide strict enforcement and quality control measures to
ensure consumers always have access to a safe, high-quality
product."
We Have a Good Thing Growing.
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. We are committed to providing pharma-grade medical
cannabis, superior patient care while balancing patient economics
and returns to shareholders. We are the first public licensed
producer to report positive cash flow from operations and the first
to report positive earnings in consecutive quarters.
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", "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, statements with respect to internal expectations,
estimated margins, timing for completion of final TSX approval,
expectations for future growing capacity and costs, the completion
of any capital project or expansions, any commentary related to the
legalization of marijuana and the timing related thereto,
expectations of Health Canada approvals and expectations with
respect to future production costs. 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.
SOURCE Aphria Inc.