TSXV: ACB
VANCOUVER, Jan. 23, 2017 /CNW/ - Aurora Cannabis Inc.
(the "Company" or "Aurora") (TSXV: ACB) (OTCQB: ACBFF)
(Frankfurt: 21P; WKN: A1C4WM) is
pleased to announce that on January 20,
2017, its wholly-owned subsidiary, Aurora Cannabis
Enterprises Inc., a licensed producer and distributor of medical
cannabis, was licensed by Health Canada for the sale of cannabis
oils.
The Company received its cannabis oils production license in
February 2016, and in anticipation of
receiving its selling license, has since dedicated a portion of its
production output towards the stockpiling of cannabis oils and
concentrates. The granting of the license allows the company to
sell oil products to registered patients under the Access to
Cannabis for Medical Purposes Regulations (ACMPR).
"Obtaining our license to sell cannabis oils is another major
milestone for Aurora, and we can now participate in the derivative
cannabis market by further expanding our product line for patients,
and offer prescribing physicians a high-quality alternative to
inhaled products," said Terry Booth,
CEO. "We have made key capital investments that now enable us to
rapidly deploy our differentiating extraction methods that rank
among the most consistent and efficient in the sector. With the
combined capacity from our existing production site, as well as
from our planned 800,000 square foot Aurora Sky facility now under
construction at Edmonton
International Airport, we believe Aurora is well positioned to
become one of the largest producers and distributors of cannabis
oil products, which remains a key element of our developing
business strategy."
Aurora operates best-in-class pharmaceutical grade CGMP
compliant supercritical CO2 fluid extraction (SFE) equipment,
designed for solvent-free extraction of the active compounds of the
cannabis plant, while preserving its full terpene profile.
Recently, the Company signed a Memorandum of Understanding with
Radient Technologies Inc. ("RTI") to evaluate an exclusive
partnership for the Canadian market with regards to the joint
development and commercialization of superior and standardized
cannabinoid extracts. Currently the companies are exploring the
technical feasibility and commercial opportunities to deploy RTI's
high throughput, terpene-preserving extraction technology.
Employee Stock Option Grants
On January 19, 2017, the Company
granted stock options to acquire an aggregate of 1,700,000 common
shares to management and key personnel under the company's stock
option plan. These options, exercisable at a price of $2.56 per share and expiring on January 19, 2022, will vest evenly on a quarterly
basis over a period of two years.
About Aurora
Aurora's wholly-owned subsidiary, Aurora Cannabis Enterprises
Inc., is a licensed producer of medical cannabis pursuant to Health
Canada's Access to Cannabis for Medical Purposes Regulations
(ACMPR) and operates a 55,200 square foot, expandable,
state-of-the-art production facility in Mountain View County,
Alberta, Canada. Aurora trades on
the TSX Venture Exchange under the symbol "ACB".
On behalf of the Board of Directors,
AURORA CANNABIS INC.
Terry Booth
CEO
This news release contains certain "forward-looking
statements" within the meaning of such statements under applicable
securities law. Forward-looking statements are frequently
characterized by words such as "plan", "continue", "expect",
"project", "intend", "believe", "anticipate", "estimate", "may",
"will", "potential", "proposed" and other similar words, or
statements that certain events or conditions "may" or "will" occur.
These statements are only predictions. Various assumptions were
used in drawing the conclusions or making the projections contained
in the forward-looking statements throughout this news release.
Forward-looking statements are based on the opinions and estimates
of management at the date the statements are made, and are subject
to a variety of risks and uncertainties and other factors that
could cause actual events or results to differ materially from
those projected in the forward-looking statements. The Company is
under no obligation, and expressly disclaims any intention or
obligation, to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise,
except as expressly required by applicable law.
The TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
SOURCE Aurora Cannabis Inc.