Aphria Inc. receive $100 Million investment and provide corporate updates

Shares :

0
(0)
Aphria Inc. (CNW Group/Aphria Inc.)

Further Strengthening Aphria’s Cash Balance Pro Forma to Nearly $600 million1
Company Also Provides Corporate Updates

News from Aphria

LEAMINGTON, ON, Jan. 24, 2020 /CNW/ – Aphria Inc. (“Aphria” or the “Company“) (TSX: APHA and NYSE: APHA) today announced that it has entered into an agreement to accept a strategic investment from an institutional investor (the “Significant Investor”), pursuant to which the Significant Investor has agreed to purchase 14,044,944 units of the Company at a price of C$7.12 per unit (the “Offering Price”) for aggregate gross proceeds to the Company of C$100,000,001(the “Offering”).

Each unit is comprised of one common share of Aphria and one-half of one common share purchase warrant of Aphria. Each warrant will entitle the Significant Investor to acquire one common share at a price of $9.26 for a period of 24 months from the closing date of the Offering.

The Company intends to use the net proceeds from the Offering to finance international expansion, working capital and general corporate purposes.

The units and the securities comprising the units are being offered pursuant to a shelf registration statement (including a prospectus) previously filed with and declared effective by the U.S. Securities and Exchange Commission (the “SEC”) on November 26, 2019 and, in Canada, will be offered and sold in Ontario only by way of a prospectus supplement to be filed in each of the provinces and territories of Canada. 

The Offering is expected to close on or about January 31, 2020 and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the Toronto Stock Exchange and the New York Stock Exchange.

“Given the strength of our leadership team, the continued execution of our strategic plan and the robust opportunities we have for growth in the global cannabis industry, we were able to secure this additional capital from a single investor, a significant endorsement of Aphria in these market conditions,”

“We expect this strategic investment to strengthen our balance sheet and propel Aphria forward as we continue to differentiate ourselves in the industry.”

commented Carl Merton, Chief Financial Officer.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which an offer, solicitation or sale would be unlawful prior to registration and qualification under the securities law of such jurisdiction. 

Copies of the prospectus supplement and shelf registration statement are available relating to a particular offering will be available, under Aphria’s profile on SEDAR at www.sedar.com and EDGAR at www.sec.gov, respectively.

Corporate Updates

Product Availability
The Company is pleased to provide an update on product availability. Patients are now able to purchase Aphria’s THC Walker strain in a portable vaporizer concentrate.  Additionally, Aphria’s adult-use brands Solei and RIFF vapes have been received by customers in all provinces where they are legally permissible. 

Good Manufacturing Practices 
Earlier this week, the Company announced receipt of two European Union Good Manufacturing Practices (“EU GMP“) certificates for its Aphria One and ARA – Avanti Rx Analytics facilities. The certifications provide the Company with the ability to be a worldwide supplier of medicinal cannabis. 

Subsequently, the Company’s Jamaican subsidiary Marigold Projects Jamaica Limited received a Good Manufacturing Practices certificate from Jamaica’sMinistry of Health and Wellness for manufacturing of cannabis extracts (active pharmaceutical ingredients), including CBD and THC oils. 

Plant Positivity
The Company’s social purpose platform, Plant Positivity, was embraced by Torontocommuters looking for a brief reprieve from the gloomy winter weather. During the week of January 20, 2020 the public was invited to experience the Plant Positivity Winter Garden at Toronto’s Union Station to explore the benefits of plants. By all accounts, the 30-foot pop up winter garden tunnel was success in creating a public dialogue around the different ways in which plants can impact our well-being – physically, emotionally and socially.

For more information consult Aphria website


This article is written and published by The Cannabis Stock


Disclaimer : The Cannabis Stock wants to promote the cannabis market with the best articles and news on the market. The Cannabis Stock does not recommend selling or buying any of the company mentioned and is not responsible for any losses that may result.

The Cannabis Stock and its employees may from time to time own shares of the companies named in the articles. All the facts reported by the cannabis stock are information that comes directly from the companies, from their website or on Sedar and are only published as information.


Click on a star to rate this article !

Average rating 0 / 5. Vote count: 0

No votes so far! Be the first to rate this post.


Shares :