As part of the 2018 agreement, Aphria Emblem Corp. (TSX-V: EMC) was to supply 175,000 kilograms of crude oil and dried flowers over a five-year period. Two months later, Aleafia Health acquired the emblem for $173 million in an all-stock agreement. Aleafia Health said the transaction created a “new head of Canadian medical cannabis” that, with its committed delivery contracts, could produce 138,000 kilograms of weed per year and produce each year. The deal ends a disagreement between the companies over Aleafia`s decision in 2019 to terminate a delivery contract with Aphria. For any media request, please contact: Tamara Macgregor Vice President, Communications firstname.lastname@example.org 437-343-4000 The agreement was first reported in September 2018, when Aphria signed a wholesale delivery contract with emblem for 175,000 kilograms of high quality cannabis delivered over a five-year period. Aphria received a non-refundable deposit of $22.8 million for the agreement, consisting of $12.8 million in cash and 7 million common shares of Emblem. Aphria Inc. (TSX) NASDAQ: APHA) and Aleafia Health Inc. (TSX: AH) reached an agreement on Thursday to settle their dispute over a terminated delivery contract. Alex Stojanovic Chief Financial Officer Emblem Corp. 416.923.1331 email@example.com The termination of the contract has released a large supply of cannabis Aphria could then sell under its own high-demand brands, the company added. Aphria also stated that it planned to vigorously defend itself if Aleafia sought damages.
But last year, Aleafia bought the health emblem and cancelled the delivery contract. The parties are contractually required to negotiate for a period of 30 days from the receipt of a formal termination. If the parties fail to reach an agreement or agreement within 30 days and Aleafia initiates a formal claim for compensation, the company intends to vigorously defend itself. Aleafia Health (TSX: AH) is paid. He is paid by Aphria Inc (TSX: APHA) (NASDAQ: APHA). The payment is related to a cannabis supply agreement between Emblem and Aphria that was not respected by Aphria. Aleafia Health is a vertically integrated cannabis health and wellness company with four core businesses: Cannabis Cultivation – Products, Health – Wellness Clinics, Cannabis Education and Consumer Experience with ecommerce, retail distribution and provincial supply agreements. Leamington, Ontario – September 12, 2018 – Aphria Inc.
(“Aphria” or “The Company”) (TSX: APH and US OTC: APHQF) announced today that it has entered into a wholesale delivery agreement with Emblem Cannabis Corp., a wholly owned subsidiary of Emblem Corp.