Mr. Gregg Battersby reports

APHRIA'S AUSTRALIAN-BASED PARTNER ALTHEA LISTS ON THE ASX IN AUD$19.65M IPO

Aphria Inc.'s Australian-based partner Althea Company Pty. Ltd. has completed the fundraising for its proposed listing on the Australian Securities Exchange through an initial public offering (IPO). Demand for shares in Althea significantly exceeded the proposed maximum fundraising under the IPO of $19.65-million (Australian).

Aphria took a cornerstone position in the IPO by subscribing for an additional 17 million shares, which has resulted in a 25-per-cent holding in Althea ($3.4-million (Australian) investment). Having previously invested $5-million (Australian) in pre-IPO financing, Aphria continues to be hands-on in support of Althea's growth strategy in Australia.

Through a previously announced exclusive supply agreement with Aphria, Althea commenced importing and supplying five co-branded medicinal products to eligible patients in Australia in cannabis oil and dried flower form, generating sales revenue starting in May, 2018.

"We are thrilled that our Australian partner has successfully listed on the ASX, and we are looking forward to continuing our work with Althea to realize the market's potential and ensure that Australian patients have access to high-quality medical cannabis," said Gregg Battersby, vice-president of commercial strategy at Aphria.

"Althea's aim is to educate and support patient access to medicinal cannabis in Australia, and our measured three-stage growth plan supports our vision to become a leading and trusted medicinal cannabis brand," said Joshua Fegan, chief executive officer and managing director of Althea.

"Funds from the IPO will enable Althea to increase brand awareness for our co-branded medicinal cannabis products in the medical community and also fund the design, construction, commissioning and completion of a fully scalable 4,080-square-metre medicinal cannabis cultivation, extraction and manufacturing facility," Mr. Fegan added.

"Althea wish to acknowledge the ongoing support received from our Canadian partner Aphria, whose dedication to the Australian medicinal cannabis market is unrivalled."

About Aphria Inc.

Aphria is a leading global cannabis company driven by an unrelenting commitment to its people, product quality and innovation. Headquartered in Leamington, Ont., 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. Rooted in the company's founders' multigenerational 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 five continents.

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