LEAMINGTON, ON, Dec. 12, 2018 /PRNewswire/ - Aphria Inc.
("Aphria" or the "Company") (TSX:
APHA and NYSE: APHA) today announced that it
has signed a Letter of Intent (the "LOI") with Insumos
Medicos S.A. ("Insumos"), a Paraguayan pharmaceutical
manufacturing, import and distribution company, to enter into an
exclusive supply and distribution agreement to provide medical
cannabis in Paraguay.
"Latin America continues to
represent an important growth opportunity within the global medical
cannabis industry, and we are excited to be among the first to
enter the rapidly emerging market in Paraguay," said Jakob Ripshtein, President of
Aphria. "Our strategic partner, Insumos, is well-positioned to
establish a leading presence for the Company's products throughout
the country. Aphria will continue to expand its footprint in the
most strategic markets in Latin
America and around the world through its diversified
approach to innovation, partnerships and expansion."
Insumos is a distributor of pharmaceuticals to hospitals within
Paraguay. Insumos has the network,
relationships, and reach to bring Aphria's products to patients in
need across the country. As part of the proposed agreement, Insumos
will undertake the registration of Aphria's products with
Paraguay's Ministry of Public
Health and Social Welfare and appropriate licensing for the import
of medical cannabis.
Upon completion of the proposed agreement, Paraguay will become the third market in
Latin America, following
Argentina and Colombia in which Aphria products will be
distributed. Entering Paraguay is
in line with the Company's continued long-term strategy for
international expansion. Today, Aphria's global presence extends
across Canada, Europe, Latin
America, the Caribbean,
Africa and Oceania.
We Have A Good Thing Growing
About Aphria
Aphria is a leading global cannabis company driven by an
unrelenting commitment to our people, product quality and
innovation. Headquartered in Leamington,
Ontario – the greenhouse capital of Canada – Aphria has been setting the standard
for the low-cost production of safe, clean and pure
pharmaceutical-grade cannabis at scale, grown in the most natural
conditions possible. Focusing on untapped opportunities and backed
by the latest technologies, Aphria is committed to bringing
breakthrough innovation to the global cannabis market. The
Company's portfolio of brands is grounded in expertly-researched
consumer insights designed to meet the needs of every consumer
segment. Rooted in our founders' multi-generational expertise in
commercial agriculture, Aphria drives sustainable long-term
shareholder value through a diversified approach to innovation,
strategic partnerships and global expansion, with a presence in
more than 10 countries across 5 continents.
For more information, visit: aphria.ca
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, expectations with respect to actual production
volumes, expectations for future growing capacity and costs, the
completion of any capital project or expansions, 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.
The forward-looking statements included in this news release are
made as of the date of this news release and the Company does not
undertake an obligation to publicly update such forward-looking
statements to reflect new information, subsequent events or
otherwise unless required by applicable securities laws.
Forward-looking statements contained in this news release are
expressly qualified by this cautionary statement.
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SOURCE Aphria Inc.