TSXV: ACB
VANCOUVER, April 13, 2017 /CNW/ - Aurora Cannabis Inc. (the
"Company" or "Aurora") (TSXV: ACB) (OTCQB: ACBFF) (Frankfurt: 21P; WKN: A1C4WM) commended
Canada's federal government on its
legislative framework for the legalization of adult consumer use of
cannabis, as tabled today in the House of Commons.
The new legislation, when implemented, will allow the legal sale
and consumption of cannabis products by people no less than 18
years of age, and of an age to be determined in the future by each
province and territory. It will also permit home cultivation of a
limited amount of cannabis for personal use. Once the new
legislation is adopted at the federal level, the next step will be
for the provincial and territorial governments to develop retail
sales models, which may differ somewhat across the 13 Canadian
jurisdictions. It is anticipated that legal sales of cannabis to
consumers will commence in the first half of 2018.
"This is a historic moment for Canada," said Terry
Booth, CEO. "We're witnessing the beginning of the end
of the prohibition of cannabis and the creation of a framework for
safe, regulated adult use, and the establishment of a secure
environment for the continued growth of a new cannabis economy that
will generate significant investment, innovation, economic
development and job creation. We would also like to acknowledge the
pioneers of Canada's cannabis
community. We owe our gratitude to them for their bravery and
determination in bringing about change, leading to today's cannabis
law reform. The federal government in turn has taken a rational,
responsible and methodical approach to cannabis legalization,
driven by clear and consistent policy objectives. Canada is legalizing cannabis in a way that
will protect youth, consumers, public health and safety."
"The legislation and anticipated timeline for legalization
validate Aurora's business strategy of building and acquiring the
capacity to produce high quality cannabis on a massive scale, with
low per-gram cost of production, and establishing what we believe
is the industry's leading e-commerce and customer care platform,"
added Mr. Booth. "Aurora is exceptionally well-positioned to
capitalize on this opportunity for extremely rapid market
expansion. With our existing purpose-built production facility in
Alberta, construction is well
underway at our new 800,000 square foot facility at Edmonton International Airport, and the recent
acquisition of a third production facility in Pointe-Claire, Quebec, we anticipate being one
of the largest suppliers to both the rapidly-growing medical
cannabis sector, and the much larger newly-legalized consumer
market."
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). The Company operates a 55,200 square foot,
state-of-the-art production facility in Mountain View County,
Alberta, is currently constructing
a second 800,000 square foot production facility, known as "Aurora
Sky", at the Edmonton
International Airport, and has acquired and is undertaking
completion of a third 40,000 square foot production facility in
Montreal's West-Island in
Pointe-Claire, Quebec. In
addition, the company is the cornerstone investor with a 19.9%
stake in Cann Group Limited, the first Australian company licensed
to conduct research on and cultivate medical cannabis. Aurora's
common shares trade on the TSX-V 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. The forward-looking statements include statements
about the completion of the collaboration arrangements, the
Offering and the use of proceeds thereof 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.