LEAMINGTON, ONTARIO--(Marketwired - Mar 25, 2015) - Aphria Inc. ("Aphria" or the "Company") (TSX VENTURE:APH) is pleased to announce that it has successfully amended its license with Health Canada to allow for wholesale shipping of medical marijuana in dried bud form.
"We are pleased to be the first of the licensed producers in Canada to commence wholesale shipping," stated Vic Neufeld, President and Chief Executive Officer of Aphria. "Expanding our growth strategy to include wholesale is a competitive differentiator in a retail-focused category. With this amendment to our license we are currently the only company positioned to sell medical marijuana to other licensed producers in Canada."
Neufeld added, "With nearly 60 years' experience in the agri-business, our team continues to demonstrate that we can grow medical marijuana more cost effectively and faster, with less spoiled product, in our technologically advanced greenhouses. As a result, in just over three months we have built-up our inventory to approximately 300 kilograms as we ramp up our retail sales and will begin to drawdown on this inventory as we roll out our wholesale strategy."
Aphria also announced that it successfully renewed its license to cultivate and sell marijuana under the Marihuana for Medical Purposes Regulations ("MMPR"). However, commensurate with its announcement last week of a two-phase expansion plan, the first part of which will commence immediately, Aphria will be working with Health Canada to increase the amount it is permitted to cultivate and sell under the MMPR from its current annualized growing capacity of 1,400 kilograms to 2,500 kilograms of medical marijuana annually.
Aphria, a company continued under the laws of the Province of Ontario and based in Leamington, Ontario, is in the business of producing, supplying and selling medical marijuana pursuant to the Marihuana for Medical Purposes Regulations (the "MMPR"). Under the MMPR, Health Canada is responsible for the oversight of commercial medical marijuana growers such as Aphria. Aphria's common shares are listed on the TSX Venture Exchange under the ticker symbol "APH".
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", "intend" and similar expressions. Forward-looking statements in this news release include, but are not limited to, statements with respect to future expansion plans. 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.
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