Aphria Diamond adds 140,000kg of annualized
cannabis production Aphria Inc. now has total annualized
production capacity of 255,000kg
LEAMINGTON, ON, Nov. 4, 2019 /CNW/ - Aphria Inc. ("Aphria"
or the "Company") (TSX: APHA and NYSE: APHA) today
announced it has received a cultivation licence from Health Canada
for Aphria Diamond, the Company's second Leamington, Ontario cannabis greenhouse
facility, bringing an additional 1,300,000 square feet of
production space with an annual growing capacity of 140,000kg.
Combined with the Company's Aphria One facility and its subsidiary
Broken Coast Cannabis, the Company now has more than 2,400,000
square feet of cultivation space capable of reaching a total
annualized production capacity of 255,000kg.
"We are extremely pleased to receive the licence for our
long-awaited Aphria Diamond facility, which more than doubles our
Canadian production capacity," said Irwin
D. Simon. "Reaching industry-leading production levels
coinciding with the expansion into new categories and new
opportunities for cannabis in Canada and around the world is a
transformative moment for Aphria Inc."
Aphria Diamond is a 51%-owned subsidiary of Aphria Inc., through
which the Company has partnered with Double Diamond, a company with
multi-generational expertise in the commercial greenhouse industry.
Aphria Diamond is situated on a 100-acre campus with a brand-new
greenhouse facility covering 1,300,000 square feet that has been
retrofit for the cultivation of cannabis.
Aphria Diamond features the industrial-scale automation
technology that is the hallmark of Aphria One's Part IV and V
expansions. The in-house designed automation will handle
cultivation functions including transplanting cuttings,
transporting plants through harvesting, de-budding and trimming,
drying and curing, and waste disposal.
"We believe the introduction of our proprietary automation
technology at Aphria Diamond will provide us with the ability to
cultivate high-quality cannabis with great efficiency and at an
unprecedented scale," continued Simon. "As we remain focused on
sales growth and profitability, this unique advantage is expected
to enable Aphria to continue to create long-term value and drive
the evolution of the industry through innovation and the
development of leading brands."
We Have A Good Thing Growing
About Aphria Inc.
Aphria Inc. is a leading global
cannabis company driven by an unrelenting commitment to our people,
the planet, product quality and innovation. Headquartered in
Leamington, Ontario – the
greenhouse capital of Canada –
Aphria Inc. has been setting the standard for the low-cost
production of high-quality cannabis at scale, grown in the most
natural conditions possible. Focusing on untapped opportunities and
backed by the latest technologies, Aphria Inc. 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 Inc. 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: aphriainc.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 expected production
capacity and the expected impact of the Company's proprietary
automation technology at Aphria Diamond. 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 Inc. 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
and should carefully review the various risks and uncertainties
identified in the Company's filings on SEDAR and EDGAR. 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.