Aphria Announces $11.5 Million Strategic Investment In Scientus Pharma
Innovative extraction process opens door to future cannabinoid based medical products
LEAMINGTON, ON, Aug. 15, 2017 /CNW/ – Aphria Inc. (“Aphria” or the “Company”) (TSX: APH or USOTCQB: APHQF), is pleased to announce that it invested $11.5 million in HydRx Farms, Ltd. (o/a Scientus Pharma) (“Scientus Pharma”) by way of a senior, secured convertible debenture (“Debenture”). The Debenture has a two-year term, bears interest at the rate of 8%, paid semi-annually, is convertible into the common shares of Scientus Pharma at the rate of $2.75 a share and is secured by a first charge on all of the current and future assets of Scientus Pharma.
Scientus Pharma is a vertically-integrated biopharmaceutical company focused on the development of drugs that target the endocannabinoid receptors throughout the body for the treatment of diseases of the brain, organs, connective tissues, etc. Scientus Pharma is raising the bar of cannabinoid products from medical-grade to pharmaceutical-grade. Leveraging its proprietary, patent-pending formulation and processing technologies, Scientus Pharma is committed to leading the medical cannabis market towards pharmaceutical standards in manufacturing, formulations and dosing.
We are excited to enhance our relationship with industry leader Scientus Pharma. Their proposed pipeline of new and innovative products represent a major step forward for cannabinoid based medical products in Canada. Gaining access to their dealer’s license provides Aphria immediate access in the short-term to enhanced global opportunities.
Vic Neufeld, Chief Executive Officer of Aphria
“We are excited to welcome Aphria as a strategic investor,” said Trevor Folk, Chief Executive Officer of Scientus Pharma. “Coming on the heels of the two companies completing a major wholesale supply agreement in June, this sizable investment serves to validate the Scientus Pharma business model to be the leader in extractions, formulations and provider of best of breed derivative medical cannabinoid based products. It also significantly expands our existing partnership, allowing Scientus Pharma to complete implementation of its patent pending commercial scale microwave extraction platform, an important step toward creating an active pharmaceutical ingredient that can be subsequently formulated into a range of effective dosing forms, and to execute the commercial launch of its first differentiated product.”
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. Aphria is committed to providing pharma-grade medical cannabis, superior patient care while balancing patient economics and returns to shareholders. Aphria was the first public licensed producer to report positive cash flow from operations and the first to report positive earnings in consecutive quarters.
About Scientus Pharma
Scientus Pharma Inc. is a vertically-integrated biopharmaceutical Licensed Dealer under the Narcotics Control Regulations of Canada who conducts fundamental research on cannabinoids (genetic, bio molecular, etc.) with a focus on developing and commercializing pharmaceutical-grade cannabinoid derivative products. Being one of a limited number of Licensed Dealers in Canada authorized to handle and conduct cannabinoid products, Scientus Pharma has the ability to wholesale, buy, process and sell cannabinoid derivatives, from and to Licensed Producers, as well as international markets.
Original press release: http://www.newswire.ca/news-releases/aphria-announces-115-million-strategic-investment-in-scientus-pharma-640503443.html
