STOCKHOLM and LEAMINGTON,
ON, Nov. 2, 2020 /CNW/ - ODI Pharma
AB ("ODI", ISIN SE0013409760) today announced that, despite
COVID 19 delays, it has streamlined its supply chain and executed a
Supply Agreement (the "Supply Agreement") with Aphria Inc.'s
("Aphria") (TSX: APHA) (Nasdaq: APHA) wholly-owned German
subsidiary, CC Pharma GmbH ("CC Pharma"). The management
team of ODI believes the Supply Agreement will contribute to
efficiencies of ODI's operations going forward.
The highlights of the Supply Agreement are:
- The Supply Agreement grants ODI the exclusive right to sell a
defined set of co-branded products in Poland. These products will be co-branded and
sold under the ODI and Aphria brand names;
- The Supply Agreement has a term of five years and provides for
an annual minimum of 1,200 kg of medical cannabis product, for a
total of 6,000 kg of medical cannabis during the term of the
agreement; and
- CC Pharma will support ODI in securing regulatory approval for
import and sale of the co-branded products in Poland.
Aphria Inc. Chief Executive Officer and Chairman,
Irwin D. Simon
comments
"We are pleased to announce our partnership
with ODI Pharma, which expands the international presence of our
Aphria medical brand into Poland.
This partnership is further evidence of our global commitment to
provide patients with access to high-quality medical cannabis
products as well as a testament to the strength and quality of our
medical brand, Aphria. We look forward to working with ODI
Pharma in bringing our high-quality medical cannabis products to
patients in Poland."
ODI Pharma AB CEO Derek
Simmross comments
"We are pleased to continue our
relationship with Aphria through our new partnership between CC
Pharma and ODI Pharma. We see that this will contribute to our
operational efficiency and it is exciting to further advance the
terms of our relationship to include a broader product offering.
Our goal remains to represent the best and most technologically
advanced producer of medical cannabis in the industry for the
Polish people."
ODI Pharma AB Chairman Volker
Wiederrich comments
"We are proud of our
partnership with CC pharma, a global leader who shares with us the
same quality values and commitments of meeting patients' needs and
improving their quality of life. Also, this is another vote of
confidence in ODI Pharma's leadership and the Polish medical
cannabis market."
About ODI Pharma AB
ODI Pharma, based on its European
network, subsidiaries and affiliates, is a producer and
representative of finished pharmaceutical cannabis products with a
focus on distribution to the medical cannabis market in
Europe through its subsidiary ODI
Pharma Polska Sp. z o.o. ODI Pharma intends to provide a
high-quality product at a competitive price compared to competitors
in Poland, thereby becoming the
number one provider of medical cannabis in Poland. ODI Pharma also strives to be on the
forefront of understanding the medical applications of the product
as well as introducing new, innovative products to the European
patients in need. ODI will continue to team up with the most
knowledgeable and best renown partners in the industry to achieve
its goals.
About Aphria Inc.
Aphria Inc. is a leading global
cannabis company inspiring and empowering the worldwide community
to live their very best life. 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. Aphria'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.
For more information, visit: aphriainc.com
This press release contains information that ODI Pharma is
obligated to make public pursuant to the EU Market Abuse
Regulation. The information was submitted for publication through
the agency of the contact person set out above on November 2, 2020.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS: Certain
information in this news release constitutes forward-looking
information or forward-looking statements (together,
"forward-looking statements") under applicable securities laws and
are expressly qualified by this cautionary statement. Any
information or statements that are contained in this news release
that are not statements of historical fact may be deemed to be
forward-looking statements, including, but not limited to,
statements in this news release with regards to Canadian and
international growth and business opportunities. Aphria uses words
such as "forecast", "future", "should", "could", "enable",
"potential", "contemplate", "believe", "anticipate", "estimate",
"plan", "expect", "intend", "may", "project", "will", "would" and
the negative of these terms or similar expressions to identify
forward-looking statements, although not all forward-looking
statements contain these identifying words. Various assumptions
were used in drawing the conclusions contained in the
forward-looking statements throughout this news release.
Forward-looking statements reflect management's current beliefs
with respect to future events and are based on information
currently available to management including based on reasonable
assumptions, estimates, internal and external analysis and opinions
of management considering its experience, perception of trends,
current conditions and expected developments as well as other
factors that management believes to be relevant as at the date such
statements are made. Forward-looking statements involve significant
known and unknown risks and uncertainties. Many factors could cause
actual results, performance or achievement to be materially
different from any future forward-looking statements. Factors that
may cause such differences include, but are not limited to, risks
assumptions and expectations described in Aphria's critical
accounting policies and estimates; the adoption and impact of
certain accounting pronouncements; Aphria's future financial and
operating performance; the competitive and business strategies of
Aphria; the intention to grow the business, operations and
potential activities of Aphria; Aphria's ability to maximize the
utilization of its existing assets and investments; Aphria's
ability to take a leadership position in foreign jurisdictions; the
expected inventory and production capacity of Aphria; the expected
category growth of Aphria's products; the anticipated increase in
demand for saleable flower, and the related growth in the
international market; the market for Aphria's current and proposed
products, as well as Aphria's ability to capture market share; the
anticipated timing for the release of expected product offerings;
the development of affiliated brands, product diversification and
future corporate development; expectations with respect to Aphria's
product development, product offering and the sales mix thereof;
Aphria's satisfaction of international demand for its products;
Aphria's plans with respect to
importation/exportation; Aphria's ability to meet the demand
for medical cannabis; Aphria's plans to establish strategic
partnerships; Aphria's expected ongoing contractual relationships,
and the terms thereof; Aphria's ability to comply with its
financial covenants in the future; the applicable laws,
regulations, licensing and any amendments thereof related to the
cultivation, production and sale of cannabis product in the
Canadian and international markets; the grant, renewal and impact
of any licence or supplemental licence to conduct activities with
cannabis or any amendments thereof; Aphria's purpose, mission,
vision and values with COVID-19 nationally and globally which could
have a material adverse impact on Aphria's business, operations and
financial results, including disruptions in cultivation and
processing, supply chains and sales channels, as well as a
deterioration of general economic conditions including national
and/or global recessions and the response of governments to the
COVID-19 pandemic; general economic conditions; adverse industry
events and future steps to be taken in response to COVID-19; the
performance of Aphria's business and operations.
Readers are cautioned that the foregoing list is not exhaustive
and should consider the other factors discussed under the heading
"Risk Factors" in Aphria's most recent Annual Information Form and
under the heading "Industry Trends and Risks" in Aphria's
Management's Discussion and Analysis for the three months ended
August 31, 2020, each available on
SEDAR at www.sedar.com and on EDGAR at www.sec.gov. 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 Aphria 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. Neither
TSX nor its Regulation Services Provider (as that term is defined
in the policies of Toronto Stock Exchange) accepts responsibility
for the adequacy or accuracy of this release.
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SOURCE Aphria Inc.