Wednesday , December 8 2021

Aphria describes its operations & # 39; Latin American and Jamaican – New Enterprises & # 39; cannabis



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Looking Aphria unequivocally Behind its LATAM Operations
  • Substantial well positioned Assets to Create Value for Shareholders
  • Executive management shows belief in the Company By & # 39; Acquisition & # 39; Share & # 39; $ 3.1M in 3 & # 39; December 2018

Leamington, ON, December 4, 2018 / PRNewswire / – Aphria Inc. ( "Aphria" or the "Company") (TSX: APHA and NYSE: APHA) today provided the following update on its Latin American operations, including the acquisition of LATAM & # 39; LATAM consisting Holdings Inc. f & # 39; licenses and other assets and related businesses in Colombia, Argentina and Jamaica and right & # 39; the first offer and refusal as regards Brazil (collectively, the "Transaction"), which closed on 27 & # 39; September 2018.

As close this important strategic acquisition in & # 39; in September, we have made considerable progress in supporting and developing our operations on the ground in Latin America and the Caribbean. We have nearly 100 employees across the dedicated region to move & # 39; to advance the interests of the Company's business, including cultivation, processing, research and development, partnerships and continuous expansion.

Vic Neufeld, Chief Executive Officer & # 39; Aphria

The international operations are a key component of our strategy & # 39; proven growth and we are working to integrate and improve the operations and product channels throughout Latin America to npoġġuhom for creating & # 39; sustainable value and long-term shareholder.

Background: LATAM Holdings Acquisition

Aphria is committed to good corporate governance and transparency. Acquisition & # 39; LATAM transaction was negotiated long arms between two publicly traded companies and each retained professional financial advisors (one provided formal valuation of acquired assets). Aphria and SOL Global Investments Corp. (Formerly Scythian Biosciences Corp.) ( "SOL") companies are "sister" companies and not "sister" at the time the transaction was agreed between the parties.

B & # 39; connection with the transaction, the company notes, among other things, the following:

  • The Board of Directors of & # 39; Aphria received financial advice and opinion & # 39; justice by Cormark Securities Inc., the independent financial advisor and qualified Company, the consideration offered by Aphria regarding the transaction was fair, from a financial point of view, to Aphria.
  • The Company believes that the purchase price paid under the Transaction was comparable & # 39; & # 39 such acquisitions; Latin America than other large heads, licensed Canadian producers.
  • The transaction resulted in & # 39; minimum dilution to shareholders & # 39; Aphria (basic 6.6% / 6.3% fully diluted).
  • The company has maintained the leading lawyer in transactions & # 39; any jurisdiction conducted extensive legal due diligence on the assets, licenses and businesses in & # 39; any jurisdiction.
  • Representatives & # 39; Aphria traveled to Colombia, Argentina, Jamaica and Brazil to carry out due diligence in respect of the assets to be obtained which included management meetings, visits on senior management in place & # 39; country and meetings with & # 39; authorized local representatives.
  • The Company entered into agreements & # 39; purchase & # 39; traded shares & # 39; & # 39 SOL in; connection with the transaction which contained extensive representations, warranties, covenants, conditions and indemnities survived in closing the transaction.
  • In its press release announcing the transaction, the Company disclosed b & # 39; transparent way some people from inside & # 39; Aphria were owned & # 39; de minimis amount of & # 39; shares and warrants & # 39; SOL and that such persons have been revealed those interests to the Board of Directors and committed from the deliberations during the The transaction was discussed and the voting on the resolution approving the transaction.

Since the completion of the Transaction, the Company integrated with & # 39; successful operations in & # 39; any jurisdiction, and provides the following updates:

Colombia

  • Aphria an interest in & # 39; 90% at & # 39; Colanna S.A.S. ( "Colcanna"). Colcanna received all necessary licenses for the cultivation, processing, export, research and marketing.
  • Colcanna count on 34 acres & # 39; very fertile land, mainly flat, which is essential for better cultivation of cannabis, including the greenhouse count on the dimensions of & # 39; mother plants held recently.
  • The company recently signed a Letter Promissory purchase & # 39; 8 additional ha & # 39; land immediately adjacent to the existing property for expansion.
  • Colcanna is licensed to cultivate the psychoactive cannabis and non-psychoactive. Licenses held by Colcanna also allow the cultivation, export, research and processing.
  • Colcanna also granted by the Colombian Agricultural Institute, on 30 & # 39, October 2018, permitted & # 39; characterization under Resolution. And No. 35244. 35 245 which allows the company to evaluate seed and started a pilot test of its races before the full-scale cultivation.
  • Greenhouses are planned for more than 20 acres of property, b & # 39; 6 expected harvest year.
  • Colcanna is expected to achieve initial annualized production & # 39; 30,000 kg, growing to 50,000 kg, adapted to supply the country and the region b & # 39; & # 39 medical cannabis; quality.
  • There are 48 employees in Colombia, dedicated to cultivating and advancing business interests.

Jamaica

  • Marigold is fully operational with & # 39 ;:
    • issued license & # 39; Grade 3 to cultivate more than five acres & # 39; land b & # 39; cannabis for medical, scientific and therapeutic purposes;
    • License & # 39; issued Research and Development;
    • License & # 39; Grade 2 conditional to process cannabis for medical purposes, scientific and therapeutic, including manufacturing & # 39; products based on cannabis, f & # 39; & # 39 spot, more than 200 square meters;
    • Retail sales license & # 39; conditional herb to sell cannabis products for medical, scientific and therapeutic purposes, with space for immediate consumption by consumers, including tourists; and
    • Retail therapeutic conditional license to provide therapeutic services or & # 39; spa utilizing cannabis products.
  • The cultivation farm & # 39; Marigold is operational and collected about 2,500 kg of & # 39; cannabis today.
  • The Company took possession of & # 39; 10 acres & # 39; floor in Block B, Lot 2, part of Bernard Lodge, St. Catherine, of the Jamaica Sugar Company b & # 39; anticipation to expand its cultivation as demand dictates.
  • Two seats & # 39; Herb House, first at & # 39; Kyston, namely the Senses Medical Cannabis House, and second, Portmore, are expected to open in & # 39; in January 2019, additional locations currently are planned for other regions & # 39; High demand Jamaica.
  • Jamaica has 22 employees dedicated to the cultivation, processing and facility operations and maintenance of the corporate brand.

The Argentina

  • The subsidiary & # 39; Aphria in Argentina, ABP, is a company & # 39; import and distribution of & # 39; pharmaceutical products is well established and & # 39; success.
  • ABP is promoting research and clinical study of medical cannabis, including through its partnership with the Garrahan Pediatric Hospital, one of the most recognized medical institutions and credible in America the & # 39; South.
  • F & # 39; October 2018, ABP has issued 1,500 oil bottle Rideau CBD known & # 39; Aphria, given to the Garrahan Hospital de Pediatria for use in a clinical study focused on the treatment of & # 39; refractory epilepsy in children. The clinical study, involving 100 patients and will be conducted over & # 39; 2.5 years, will be one of the key global scientific and medical studies of its kind focused on the treatment of refractory epilepsy in children.
  • To pass inspection by its ISO 9001 25 & # 39, October 2018, ABP has engaged in & # 39; changes in building & # 39; October 2018.
  • Aphria and ABP, f & # 39; close collaboration with the Argentine government, opportunities for advancing medical cannabis in the country, including the potential for cultivation in the country.
  • APB operates pharmaceutical distribution warehouse and retail pharmacy and distributes an extensive network & # 39; pharmacies, distributors, government clinics and hospitals across Argentina.
  • ABP also maintains agreements with the Top 20 health insurance companies, strategic advantage for patients to access the care system of free public health Argentina.

"Aphria developed and launched a comprehensive range of & # 39; brands, built a roster & # 39; strategic partners and still focus on research, innovation and product development in Canada and internationally. Aphria tremendous growth experience and will continue to lead the evolution of the industry in the coming years. it is the commitment of the team and our incredible partners marruna where are we, and we do a Aphria global history & # 39; on success cannabis ", added Mr. Neufeld.

"Yesterday, along with & # 39; other members of our Executive Management team, rose to show our confidence in the Company's business plan, growth strategy, integrity and asset value by personally invested more than $ 3.1 million in common shares of & # 39; Aphria "Mr. Neufeld.

We A Good Thing Thing

about Aphria

Aphria is a leading firm of global cannabis driven by unrelenting commitment to our people, the quality of product and innovation. Based in & # 39; Leamington, Ontario – the nursery capital of Canada – Aphria has set the standard for producing low cost & # 39; & # 39 cannabis; pharmaceutical grade safe, clean and pure scale, grown in the most natural conditions possible. B & # 39; focus on untapped opportunities and supported by the latest technologies, innovative Aphria is committed to bringing innovation in the global cannabis market. The portfolio & # 39; Company brands is based on expert-researched consumer awareness designed to meet the needs of & # 39; each customer segment. Given the multi-generational expertise of our founding in commercial agriculture, Aphria manage sustainable value over the long-term shareholders through & # 39; diversified approach to innovation, strategic partnerships and global expansion, b & # 39; presence f & # 39; more than 10 countries across 5 continents.

For more information, visit: aphria.ca

Original Press Release

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Published by NCV Newswire

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