LEAMINGTON, ON, July 31, 2018 /CNW/ – Aphria Inc. (“Aphria” or the “Company”) (TSX: APH and US OTC: APHQF) today announced that it is has secured $25 million in debt financing from WFCU Credit Union (“WFCU”). The five-year term loan bears interest at 4.68%, has a 15-year amortization and was entered into on July 27, 2018. This is the second round of debt-financing secured by the Company from WFCU, having previously secured a $25 million five-year loan on May 9, 2017.
We are delighted to once again have the support of WFCU Credit Union as Aphria continues to execute on its long-term strategic plan.
Vic Neufeld, Chief Executive Officer at Aphria
Our diversified approach to innovation, strategic partnerships and global expansion are driving long-term shareholder value, and as our company and industry evolve we are always looking for opportunities to normalize our debt to equity structure.
The term loan is secured by a first charge on the Company’s real estate holdings, and a first position on a general security agreement including cash, accounts receivable and inventory.
We Have A Good Thing Growing
Aphria is a leading global cannabis company driven by an unrelenting commitment to our people, product quality and innovation. Headquartered in Leamington, Ontario – the greenhouse capital of Canada – Aphria has been setting the standard for the low-cost production of safe, clean and pure pharmaceutical-grade cannabis at scale, grown in the most natural conditions possible. Focusing on untapped opportunities and backed by the latest technologies, Aphria 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 drives sustainable long-term shareholder value through a diversified approach to innovation, strategic partnerships and global expansion, with a presence in more than 10 countries across 5 continents.
For more information, visit: aphria.ca
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