Aphria continues expansion strategy
December 14, 2016
Aphria acquires additional 200 acres in Leamington, Ontario
Leamington, Ontario – December 14, 2016 – Aphria Inc. (“Aphria” or the “Company”) (TSX-V: APH or USOTCQB: APHQF) announced today that the Company entered into a purchase and sale agreement to acquire 200 acres of fully serviced vacant land for $6.24 million located at 521 Mersea Road 8, Leamington, Ontario. As the land acquired does not abut the Company’s existing operations, the Company requires a new site licence from Health Canada for the property. The Company anticipates the transaction closing in January 2017.
Further, the Company announced that it removed all conditions attached to a purchase and sale agreement to acquire 5 acres of largely vacant land located on the eastern border of its existing Health Canada approved site licence. The purchase pricefor the 5 acres was $750,000 and is expected to close in late December 2016 or early January 2017. Concurrent with this transaction, the abutting property will be merged into Aphria’s existing municipal address, thereby avoiding the need to apply for a new Health Canada site licence for this parcel of land.
“Aphria, with 52 acres of land on its primary site licence, is well on its way to its previously discussed 1 million square feet of growing space”, said Vic Neufeld, Chief Executive Officer. “Securing a second site represented an important part of Aphria’ diversification plans. Being able to secure a 200-acre site, in one acquisition, positions Aphria to rapidly advance its expansion plans, when demand for recreational use of cannabis is legalized.”
We have A Good Thing Growing.
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. We are committed to providing pharma-grade medical cannabis, superior patient care while balancing patient economics and returns to shareholders. We are the first public licenced producer to report positive cash flow from operations and the first to report positive earnings in consecutive quarters.
For more information, visit Aphria.ca.
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President & CEO
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