Mr. Vic Neufeld reports

APHRIA RECEIVES CONDITIONAL APPROVAL TO GRADUATE TO THE TSX

Aphria Inc. has received conditional approval from the Toronto Stock Exchange to graduate from the TSX Venture Exchange and list its common shares on the TSX.

"Graduating to the TSX represents yet another important milestone for Aphria as we continue our successful journey as one of Canada's leading cannabis companies. This achievement comes on the heels of many other important milestones we've reached: first public licensed producer to report consecutive positive quarterly operating results; first public LP to report consecutive quarters with net profits; first public LP to license its cultivation intellectual property; diversification with non-cultivation assets; low-cost producer status," said Vic Neufeld, chief executive officer of Aphria Inc.

Aphria's listing on the TSX Venture Exchange played an important role in the publicly recognized growth of the company and this new listing on the TSX will allow a whole new category of investors to participate in the Aphria story. "Aphria remains committed to driving shareholder value and we are pleased that this move recognizes that our strategy is paying off for our shareholders," said Mr. Neufeld.

Final approval of the listing is subject to Aphria meeting certain standard and customary conditions required by the TSX, to be finalized on or before the TSX-imposed May 3, 2017, deadline. Aphria is confident that it will satisfy all requirements and will issue a statement once the TSX issues a bulletin confirming the date on which trading on the TSX will commence. Upon completion of the final listing requirements, Aphria's common shares will be delisted from the TSX Venture Exchange and shares in the company will commence trading on the TSX.

About Aphria

Aphria produces, supplies and sells medical cannabis. The company is the first public licensed producer to report positive cash flow from operations and the first to report positive earnings in consecutive quarters.

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