VANCOUVER, Jan. 31, 2017 /CNW/ - Aurora Cannabis Inc. (the
"Company" or "Aurora") (TSXV: ACB) (OTCQB: ACBFF) (Frankfurt: 21P; WKN: A1C4WM) and Radient
Technologies ("Radient") (TSXV: RTI) are pleased to provide an
update on their previously announced collaboration
arrangements.
As previously announced, the parties have entered into a
memorandum of understanding ("MOU") to evaluate an exclusive
partnership for the Canadian market with regard to the joint
development and commercialization of superior and standardized
cannabinoid extracts.
In accordance with the memorandum of understanding ("MOU"), the
parties, on January 4, 2017, entered
into a joint venture research agreement pursuant to which Radient
and Aurora are working to confirm the effectiveness of Radient's
MAPTM technology for cannabis extraction. Initial work
under the study is ongoing.
As part of the MOU, Aurora will, subject to certain conditions
precedent being satisfied, invest up to $2
million into Radient by means of a convertible debenture
(the "Debenture"). The Debenture will have a term of 2 years, bear
interest at 10% per annum and will be convertible into units (each,
a "Unit") of Radient at a conversion price of $0.14 per Unit. Each Unit will be comprised of
one common share of Radient and one share warrant, exercisable
within 24 months, for one common share of Radient at an exercise
price of $0.33 per warrant.
Aurora and Radient will provide a further update at such time as
Aurora has made its final determination in regards its investment
in the Debenture.
About Radient
Radient extracts natural compounds from a range of biological
materials using its proprietary "MAPTM" natural product extraction
technology platform which provides superior customer outcomes in
terms of ingredient purity, yield, and cost. From its initial
20,000 square foot manufacturing plant in Edmonton, Alberta, Radient serves market
leaders in industries that include pharmaceutical, food, beverage,
natural health, personal care and biofuel markets. Visit
www.radientinc.com for more information.
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,
|
On behalf of the
Board of Directors
|
|
|
AURORA CANNABIS
INC.
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RADIENT TECHNOLOGIES
INC.
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Terry
Booth
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Denis
Taschuk
|
CEO
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President and
CEO
|
This news release contains certain "forward-looking
statements" within the meaning of such statements under applicable
securities law. The forward-looking statements include statements
about the completion of the collaboration arrangements and Aurora's
investment in the Debenture. 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.