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Aphria Reduces Outlook As Q2 Cannabis Sales Increase 9.5% Sequentially To $33.7 Million € New Cannabis Ventures

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. Aphria Reduces Outlook as Q2 Cannabis Sales Increase 9.5% Sequentially to $33.7 Million

January 14, 2020 at 6:18 am

Published by NCV Newswire

Aphria Inc. Announces Third Consecutive Quarter of Positive Adjusted EBITDA and a 46% Increase in Adult-Use Cannabis Revenue From Prior Quarter

Adjusted EBITDA from Cannabis Operations of $3.4 Million Increased 155% from Prior Quarter Strengthened Balance Sheet and Cash Position Received EU GMP compliance confirmation for ARA-Avanti Rx Analytics Updates Fiscal Year 2020 Outlook LEAMINGTON, ON, Jan. 14, 2020 /PRNewswire/ – Aphria Inc. (“Aphria” or the “Company”) (TSX: APHA and NYSE: APHA) today reported its results for the second quarter ended November 30, 2019. All amounts are expressed in thousands of Canadian dollars, unless otherwise noted and except for per gram, kilogram, kilogram equivalents, and per share amounts. The Company also announced that Irwin D. Simon, will officially remove “interim” from his title, effective today. In addition to his responsibilities as Aphria’s Chairman of the Board, Mr. Simon had been serving as Interim Chief Executive Officer since February 2019.

We are very pleased with our strong growth and execution in Canada demonstrated by our increase in adult-use cannabis revenue and positive adjusted EBITDA as a result of our compelling brands and market positioning. We are continuing to expand our capabilities internationally with solid progress during the quarter in Germany and South America and look to monetize non-core assets. We are confident in our market position and our ability to generate sustainable profit growth.

Irwin D. Simon, Chairman and Chief Executive Officer

Source: https://www.newcannabisventures.com/aphria-reduces-outlook-as-q2-cannabis-sales-increase-9-5-sequentially-to-33-7-million/

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