Aphria Completes Divestiture of its Ownership Interest In Copperstate Farms, Realizes Gain Of Approximately $8.8 Million
July 5, 2018
Leamington and Toronto, Ontario – July 5, 2018 – Aphria Inc. (“Aphria” or the “Company”) (TSX: APH and US OTC: APHQF) announces that it has successfully completed the divestiture of the Company’s ownership interest in Copperstate Farms, LLC and Copperstate Farms Investors, LLC (collectively “Copperstate”), previously announced on February 2, 2018. Aphria’s original investment was approximately $11.1 million ($8.2 million USD). Aphria received $20 million as part of the divestiture, realizing a gain of approximately $8.8 million on the sale.
We Have A Good Thing Growing
Aphria is a leading global cannabis company driven by an unrelenting commitment to our people, product quality and innovation. Headquartered in Leamington, Ontario – the greenhouse capital of Canada – Aphria has been setting the standard for the low-cost production of safe, clean and pure pharmaceutical-grade cannabis at scale, grown in the most natural conditions possible. Focusing on untapped opportunities and backed by the latest technologies, Aphria 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 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.
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