LEAMINGTON, ON, Oct. 8, 2019 /CNW/ - Aphria Inc. ("Aphria"
or the "Company") (TSX: APHA and NYSE: APHA) today
issued the following statement in regards to Aleafia Health Inc.'s
("Aleafia") termination of the Company's wholesale cannabis
supply agreement ("Agreement") with Emblem
Corp.("Emblem"):
"We are disappointed that Aleafia has chosen to terminate its
Agreement with Aphria Inc. The Company had every intention of
fulfilling its obligations under the Agreement. As a large
shareholder of Aleafia, Aphria made good faith efforts to ensure
continuation of the Agreement understanding it was in the best
interest of all parties involved. However, the termination of this
legacy Agreement frees up significant supply allowing the Company
to service its brands that are in high-demand across the
country."
The Parties are contractually obligated to negotiate for a
period of 30-days following the receipt of a formal notice of
termination. If the Parties fail to arrive at any agreement or
settlement within the 30-days, and if Aleafia initiates a formal
claim for damages, the Company intends to vigorously defend
itself.
The Agreement is not a material part of the Company's business
and operations.
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 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 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.
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.