LEAMINGTON, ON, April 5, 2019 /PRNewswire/ - Aphria Inc.
("Aphria" or the "Company") (TSX:
APHA and NYSE: APHA) today announced that
its German subsidiary Aphria Deutschland GmbH ("Aphria
Germany") has been selected by the German Federal Institute for
Drugs and Medical Devices ("BfArM") to receive a license for
the domestic cultivation of medical cannabis. The provisional
decision announced by BfArM is subject to a mandatory 10-day
standstill period for public contracts (the "Standstill"),
which permits unsuccessful bidders to challenge the decision before
the final contract is signed. BfArM's decision would grant Aphria 5
of the 13 available lots, each with a minimum annual capacity of
200 kg.
"Aphria is proud to have been selected as a successful applicant
in the German tender process, a testament to our high production
quality standards," said Hendrik
Knopp, Managing Director of Aphria Germany. "The decision
from BfArM is a validation of our strategic approach to supporting
the German medical cannabis market, including with high-quality,
domestic production to secure vital supply for patients. We are
very pleased with our continued business momentum in Germany."
Since Germany's Cannabis as
Medicines Act was enacted in March
2017, the country's growing medical cannabis needs,
currently estimated at up to 40,000 patients, has been exclusively
supplied by imports. Pending the successful completion of the
Standstill, Aphria looks forward to supplying German patients with
domestically-grown, high-quality medical cannabis.
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 cannabis;
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 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.