Aphria acquires additional 200 acres in Leamington, Ontario
LEAMINGTON, ONTARIO--(Marketwired - Dec. 14, 2016) - Aphria Inc. ("Aphria" or the "Company") (TSX
VENTURE:APH)(OTCQB: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 price
for 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.
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. We are committed to providing pharma-grade medical cannabis, superior patient care while balancing
patient economics and returns to shareholders. We were the first public licenced producer to report positive cash flow from
operations and the first to report positive earnings in consecutive quarters.
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", "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 for future growing capacity, the completion of either of the land acquisitions
identified above, the completion of the Company's capital projects, any commentary related to the legalization of marijuana and
the timing related thereto, expectations of Health Canada approvals 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.
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