Aphria now positioned within two of the
largest cannabis markets outside of Canada
Agreement with Israeli
leader Canndoc provides access to Israel's largest drugstore
chain
Finished product will be co-branded under
Aphria and Canndoc brands
LEAMINGTON, ON, Aug. 4, 2020 /CNW/ - Aphria Inc.
("Aphria" or the "Company") (TSX:
APHA) and (NASDAQ: APHA), a leading global cannabis
company, today announced it has entered into a Strategic Supply
Agreement (the "Agreement") with Canndoc Ltd.
("Canndoc"), a subsidiary of InterCure Ltd. (TASE: INCR)
(TASE: INCR.TA), one of Israel's
largest and most established medical cannabis producers.
Under the terms of the Agreement, Aphria will supply Canndoc
with dried bulk flower over a two-year period, with the option to
extend for two additional terms of two years each, and an option
for an additional year after that if the parties agree to
terms. During the first two-year term and each additional
term, if applicable, the Company will provide Canndoc with 3,000
kgs. of bulk dried flower, which will be processed into finished
product, co-branded under the Aphria and Canndoc brand names, and
sold exclusively within the Israeli market.
"We are excited about our strategic partnership with Canndoc, a
well-established Israeli leader, and the opportunity to continue to
expand our medical cannabis brand internationally," said
Irwin D. Simon, Chairman and Chief
Executive Officer, Aphria Inc. "Today's announcement is about more
than a supply agreement. It's about the strength and quality of our
medical brand, Aphria, being continuously validated by the world's
medical cannabis markets, including countries in which we have no
distribution today. The Agreement represents a significant step for
Aphria, and we look forward to bringing our high-quality medical
cannabis products to patients in Israel."
"We are proud to partner with Aphria, a global leader who shares
with us the same quality values and commitments of meeting
patients' needs and improving their quality of life. This is
another vote of confidence in Canndoc's leadership and the Israeli
market," said Ehud Barak, former
Israeli Prime Minister and Chairman of the Canndoc Board of
Directors.
The strategic partnership will also include the possibility of
Aphria and Canndoc collaborating on research initiatives such as
clinical trials focused on the use of medical cannabis with leading
hospitals and research institutions in Israel and exploring potential collaboration
in the EU market.
Now strategically positioned in two of the largest cannabis
markets outside of Canada,
Germany, one of the most highly
sought-after developed medical cannabis markets in the world, and
Israel, one of the largest
importers of medical cannabis in the world, the Company will
continue to leverage its market leadership as it develops its
medical cannabis markets internationally.
Canndoc has been pioneering Pharma-Grade cannabis for more than
13 years and has established itself as a well-respected company in
the global cannabis industry. In March
2020, Canndoc entered a strategic partnership with
Super-Pharm, Israel's largest
drugstore chain, allowing for Canndoc's products to be distributed
across 95 medical cannabis authorized pharmacies and sold to
Israel's growing medical cannabis
patient community.
We Have a Good Thing Growing
About Aphria
Since 2014, the Aphria brand has been a leading, trusted choice
for Canadian patients seeking high quality pharmaceutical-grade
medical cannabis. Today, the Aphria brand continues to be a leading
brand in Canada and, we will
continue to leverage its market leadership as we develop our
medical cannabis markets internationally under the Aphria
brand.
About Aphria Inc.
Aphria Inc. is a leading global cannabis company
driven by an unrelenting commitment to our people, the
planet, product quality and innovation. Headquartered in
Leamington, Ontario – the
greenhouse capital of Canada –
Aphria Inc. has been setting the standard for the
low-cost production of high-quality cannabis at
scale, grown in the most natural conditions possible. Focusing on
untapped opportunities and backed by the latest technologies,
Aphria Inc. 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 Inc. drives sustainable long-term
shareholder value through a diversified approach to innovation,
strategic partnerships and global expansion.
For more information, visit: aphriainc.com
About InterCure and Canndoc
InterCure (TASE: INCR) is the first public company on the Tel
Aviv Stock Exchange to hold a valid and permanent license for the
medical cannabis value chain through its 100% ownership in Canndoc.
Canndoc is a GMP medical cannabis producer. Licensed by the Israeli
Ministry of Health since 2008, Canndoc is a leading pioneer in the
research, cultivation, production and distribution of pharma-grade
cannabis-based products to patients, hospitals, pharmacies,
research and governmental organizations.
Through its strategic exclusive collaboration with world
leaders, distribution agreement with SLE (100% owned by Teva
Pharmaceutical Industry) and long term sales agreements, Canndoc is
well-positioned as a leading and significant player in pharma-grade
medical cannabis in Israel,
Europe and the United Kingdom.
Visit https://www.canndoc-pharma.com/
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS: Certain
information in this news release constitutes forward-looking
statements under applicable securities laws and are expressly
qualified by this cautionary statement. 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", "potential", "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 Aphria's expected supply
of product in international jurisdictions, the launch of co-
branded product offerings and future collaborations with
Canndoc. Forward-looking statements are based on the opinions,
estimates and perception of trends of management and its beliefs
with respect to future events, as at the date the statements are
made, and are subject to a variety of risks and uncertainties and
other factors that could cause actual events or results to differ
materially from those projected in the forward-looking statements.
Factors that may cause such differences include, but are not
limited to, risks associated with COVID-19 nationally and globally
which could have a material adverse impact on Aphria's business,
operations and financial results, including disruptions in
cultivation and processing, supply chains and sales channels, as
well as a deterioration of general economic conditions including
national and/or global recessions and the response of governments
to the COVID-19 pandemic in respect of the operation of retail
stores or pharmacies (as applicable); general economic conditions;
adverse industry events; marketing costs; loss of markets; future
legislative and regulatory developments involving cannabis or
otherwise affecting Aphria's business or its consumers generally;
inability to access sufficient capital from internal and external
sources, and/or inability to access sufficient capital on favorable
terms; the cannabis industry in Canada or in Israel generally; income tax and regulatory
matters, including delays in the issuance of licenses; the sale and
distribution of vapes; the ability of Aphria to meet its liquidity
requirements to fund ongoing operations; the ability of Aphria to
implement its business strategies; competition; crop failure;
safety of derivative cannabis products; currency and interest rate
fluctuations.
Readers are cautioned that the foregoing list is not exhaustive
and should carefully review the various risks and uncertainties
identified in the Company's filings on SEDAR and EDGAR. Readers are
further cautioned not to place undue reliance on forward-looking
statements as there can be no assurance that the plans, intentions
or expectations upon which they are placed will occur. Such
information, although considered reasonable by management at the
time of preparation, may prove to be incorrect and actual results
may differ materially from those anticipated.
The forward-looking statements included in this news release are
made as of the date of this news release and the Company does not
undertake an obligation to publicly update such forward-looking
statements to reflect new information, subsequent events or
otherwise unless required by applicable securities laws.
Neither TSX nor its Regulation Services Provider (as that term is
defined in the policies of Toronto Stock Exchange) accepts
responsibility for the adequacy or accuracy of this release.
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SOURCE Aphria Inc.