Mr. Vic Neufeld reports

APHRIA CONTINUES SUCCESS STORY WITH TSX LISTING

Aphria Inc.'s common shares will begin trading on the Toronto Stock Exchange as of the open of the market on March 22, 2017. The common shares will continue to trade under the symbol APH. In conjunction with listing on the TSX, the common shares will be voluntarily delisted from the TSX Venture Exchange prior to the commencement of trading on March 22, 2017.

"Aphria's listing on the TSX represents a major milestone in our strategic growth plan, helping to increase trading liquidity, access a growing investor base interested in the cannabis industry and raise capital for further investments," said Vic Neufeld, chief executive officer, Aphria. "As one of Canada's leading cannabis companies, we are excited about the opportunities in this rapidly growing market to drive shareholder value and continue Aphria's success story. The TSX is the premier listings destination and this achievement highlights the strength of our experienced management and team, our commitment to providing safe, quality products, and our positive growth trajectory."

Backed by over 35 years of experience in agriculture and over 20 years in the pharmaceutical space, Aphria is one of the lowest-cost producers in the industry. In January, 2017, the company announced that its board approved a $137-million capital project to increase Aphria's capacity greenhouse growing footprint capacity from 300,000 square feet to one million square feet, positioning the company to support continued midterm demand expectations and growth as the market for cannabis expands.

About Aphria Inc.

Aphria, one of Canada's lowest-cost producers, 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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