LEAMINGTON, ON, May 6, 2020 /PRNewswire/ - Aphria Inc.
("Aphria" or the "Company") (TSX: APHA and NYSE:
APHA) today announced that its subsidiary, ASG Pharma Ltd.
("ASG"), has received its European Union Good Manufacturing
Practices ("EU GMP") certification from the Malta Medicines
Authority ("MMA") in respect of production of cannabis for
medicinal and research purposes.
Following receipt of its first medical cannabis import license
for analytical testing and research in 2018 and the subsequent ASG
facility upgrade, the certification provides Aphria with the
ability to ship finished dried flower and finished oil for
medicinal and research use in permitted jurisdictions throughout
the European Union.
"We are pleased to receive EU GMP certification for ASG in
Malta, our third facility to
achieve this milestone, which really speaks to the Company's
commitment to quality," said Irwin D.
Simon, Chief Executive Officer. "We remain excited about
growth opportunities as this increases our ability to serve, and
further strengthens Aphria's leadership, in the European
Union."
ASG is a high-capacity EU GMP-certified lab that is
well-positioned to become a cornerstone for testing and research
and development of medical cannabis in Europe. In addition, ASG will provide
additional capacity for importing, processing, packaging and
distribution of the Company's EU-GMP certified cannabis products in
Europe.
The Company also announced the liquidation of its C$39 million Promissory Note from GA
Opportunities Corp. for proceeds of approximately C$26 million.
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.
For more information, visit: aphriainc.com
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 the expected impact
of the EU GMP certification on the Company's business and
expectations related to the Company's market position. The
Company 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 associated 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
in respect of the operation of retail stores; general economic
conditions; adverse industry events; marketing costs; loss of
markets; future legislative and regulatory developments involving
cannabis or otherwise affecting Aphria's business or its consumers
generally; inability to access sufficient capital from internal and
external sources, and/or inability to access sufficient capital on
favorable terms; the cannabis industry in Canada generally; income tax and regulatory
matters, including delays in the issuance of licenses; the sale and
distribution of vapes; the ability of Aphria to meet its liquidity
requirements to fund ongoing operations; the ability of Aphria to
implement its business strategies; competition; crop failure;
safety of derivative cannabis products; currency and interest rate
fluctuations.
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.
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.
Forward-looking statements contained in this news release are
expressly qualified by this cautionary statement.
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SOURCE Aphria Inc.