LEAMINGTON, ON, Jan. 19,
2018 /CNW/ - Nuuvera Inc. ("Nuuvera") (TSXV: NUU) and Aphria Inc.
("Aphria") (TSX: APH & US OTC QB: APHQF) announced today that
they have executed a previously announced definitive offtake
agreement for 60,000 kgs of cannabis production.
On January 8, 2018, Aphria announced that it had entered
into a strategic relationship ("GrowCo") with Double Diamond Farms
("Double Diamond") to provide Aphria with 120,000 kgs of annual
cannabis production, and Nuuvera and Aphria announced on
January 11, 2018 that they were
negotiating a definitive offtake agreement for half of such
production. The now executed definitive offtake agreement will
supply Nuuvera with 60,000 kgs of such annual cannabis
production.
Combined with Nuuvera's existing offtake of 17,000 kgs from
Aphria's Talbot Street Campus, Aphria will supply a total of 77,000
kgs of cannabis production to Nuuvera, which Aphria anticipates
will be available for sale in January
2019, pending Health Canada approvals.
"I am delighted to report that, through this offtake agreement,
Nuuvera has now secured the supply necessary to accelerate our
initiatives internationally and here in Canada," said Nuuvera CEO, Lorne Abony. "Our comprehensive partnership with
Aphria has long been a core strength of Nuuvera. Today this
partnership has grown even stronger with the expansion of our
offtake arrangement, through which Nuuvera further leverages
Aphria's best-of-breed know-how in harnessing the power of the sun
to grow trusted, consistent and medical-grade cannabis."
"This extension adds to our valuable distribution agreement with
Nuuvera and advances our international expansion plans," said
Vic Neufeld, Chief Executive Officer
of Aphria. "The scale of our growing operations in Leamington, especially with the recent
addition of Double Diamond Farms, enables us to adequately supply
Nuuvera with medical-grade cannabis to accelerate their global
strategy. We look forward to continuing to meet the needs of our
partners and creating additional shareholder value."
As previously announced, Aphria, holding a controlling 51%
interest in GrowCo, will supply its Standard Operating Procedures,
quality oversight and will apply for a second Health Canada
cultivation license for the site. Double Diamond, a 49% partner in
GrowCo, will supply the land, existing infrastructure, employees
and new state of the art, Dutch style greenhouses for the venture.
The 100-acre GrowCo site is located on Highway 77 in Leamington, Ontario and abuts the 100-acre
site of Nuuvera's to-be-constructed Leamington campus.
About Nuuvera
Nuuvera is a global cannabis company
founded on Canadian principles, and built with the whole world in
mind. Nuuvera is currently working with partners
in Germany, Israel and Italy, and is exploring
opportunities in several other countries, to develop commercial
production and global distribution of medical grade cannabis in
legalized markets. Through its subsidiaries, ARA – Avanti Rx
Analytics Inc. and Avalon Pharmaceutical Inc., Nuuvera holds a
Dealer License (GMP) under the Narcotic Control Regulations and
Office of Controlled Substances. Nuuvera is currently in the final
stages of the Health Canada review process to become a Licensed
Producer of medical marijuana under the ACMPR, and has recently
received its "letter to build" approval.
For more information on Nuuvera, please visit:
www.nuuvera.com
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.
For more information,
visit www.Aphria.com.
Notice regarding forward-looking statements:
This release includes forward-looking statements regarding
Nuuvera and its business. Often, but not always, forward-looking
statements can be identified by the use of words such as "plans",
"is expected", "expects", "scheduled", "intends", "contemplates",
"anticipates", "believes", "proposes" or variations (including
negative variations) of such words and phrases, or state that
certain actions, events or results "may", "could", "would", "might"
or "will" be taken, occur or be achieved. Such statements are based
on the current expectations of the management of Nuuvera. The
forward-looking events and circumstances discussed in this release
may not occur by certain specified dates or at all and could differ
materially as a result of known and unknown risk factors and
uncertainties affecting Nuuvera, including risks regarding the
cannabis industry, failure to obtain regulatory approvals, economic
factors, the equity markets generally and risks associated with
growth and competition. Although Nuuvera has attempted to identify
important factors that could cause actual actions, events or
results to differ materially from those described in
forward-looking statements, there may be other factors that cause
actions, events or results to differ from those anticipated,
estimated or intended. No forward-looking statement can be
guaranteed. Except as required by applicable securities laws,
forward-looking statements speak only as of the date on which they
are made Nuuvera undertakes no obligation to publicly update or
revise any forward-looking statement, whether as a result of new
information, future events, or otherwise.
Neither the TSX Venture Exchange nor its Regulation Service
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release. The TSX Venture Exchange has in no way
passed upon the merits of the transaction and has neither approved
nor disapproved the content of this press release.
SOURCE Nuuvera Inc.