CAN (ON): Aphria invests $11.5 million in Scientus Pharma

Aphria has invested $11.5 million in HydRx Farms, Ltd. (o/a Scientus Pharma) by way of a senior, secured convertible debenture. The Debenture has a two-year term, bears interest at the rate of 8%, paid semi-annually, is convertible into the common shares of Scientus Pharma at the rate of $2.75 a share and is secured by a first charge on all of the current and future assets of Scientus Pharma.

Scientus Pharma is a vertically-integrated biopharmaceutical company focused on the development of drugs that target the endocannabinoid receptors throughout the body for the treatment of diseases of the brain, organs, connective tissues, etc. Scientus Pharma is raising the bar of cannabinoid products from medical-grade to pharmaceutical-grade. Leveraging its proprietary, patent-pending formulation and processing technologies, Scientus Pharma is committed to leading the medical cannabis market towards pharmaceutical standards in manufacturing, formulations and dosing.

“We are excited to enhance our relationship with industry leader Scientus Pharma,” said Vic Neufeld, Chief Executive Officer of Aphria. “Their proposed pipeline of new and innovative products represent a major step forward for cannabinoid based medical products in Canada. Gaining access to their dealer’s license provides Aphria immediate access in the short-term to enhanced global opportunities.”

“We are excited to welcome Aphria as a strategic investor,” said Trevor Folk, Chief Executive Officer of Scientus Pharma. “Coming on the heels of the two companies completing a major wholesale supply agreement in June, this sizable investment serves to validate the Scientus Pharma business model to be the leader in extractions, formulations and provider of best of breed derivative medical cannabinoid based products. It also significantly expands our existing partnership, allowing Scientus Pharma to complete implementation of its patent pending commercial scale microwave extraction platform, an important step toward creating an active pharmaceutical ingredient that can be subsequently formulated into a range of effective dosing forms, and to execute the commercial launch of its first differentiated product.”

For more information:
Aphria Inc.
Vic Neufeld
President & CEO
1-844-427-4742
aphria.com

Scientus Pharma
209 Dundas St. E
PO Box 31 Whitby
Whitby, ON L1N 5R7
T: +1 844 493.7922
info@scientuspharma.com
scientuspharma.com