LEAMINGTON, ON, April 23, 2018 /CNW/ - Aphria Inc.
("Aphria" or the "Company") (TSX: APH and
US OTC: APHQF) today announced that its subsidiary, Broken
Coast Cannabis ("Broken Coast"), has received a license
amendment from Health Canada that provides Broken Coast with an
additional 18,000 square feet of production space as part of its
Phase III expansion, bringing total production space to 44,000
square feet. As a result of the amendment, Broken Coast's
production capacity will nearly double to 4,500 kg annually.
"We're pleased to receive Health Canada approval on our Phase
III expansion, which will enable us to quickly ramp up production
of our small-batch, premium, high-quality B.C. bud," said
John Moeller, Co-founder and
President of Broken Coast. "We expect the first crop cultivated and
produced at the expansion to be available for sale by the end of
July."
Broken Coast operates a fully-licensed, purpose-built, indoor
cannabis production facility on Vancouver Island. The Health Canada
license amendment falls under the Access to Cannabis for
Medical Purposes Regulations (Canada) ("ACMPR").
"This is an important milestone for Broken Coast and for Aphria
as we continue to bring online more capacity to meet the
anticipated demand in the Canadian market," said Vic Neufeld, CEO of Aphria. "Broken Coast is one
of Canada's most sought after
premium cannabis brands and is an important part of Aphria's
portfolio of brands today and in the coming adult-use market later
this year."
We Have a Good Thing Growing.
About Aphria
Aphria Inc., one of Canada's
lowest cost producers, produces, supplies and sells medical
cannabis. Located in Leamington,
Ontario, the greenhouse capital of Canada. Aphria is truly powered by sunlight,
allowing for the most natural growing conditions available. Aphria
is committed to providing pharma-grade medical cannabis, superior
patient care while balancing patient economics and returns to
shareholders.
For more information, visit: www.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 volumes at
the Broken Coast facility, 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 medical marijuana; inability to access sufficient capital
from internal and external sources, and/or inability to access
sufficient capital on favourable terms; the medical marijuana
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.
Forward-looking statements contained in this news release are
expressly qualified by this cautionary statement.
SOURCE Aphria Inc.