TSXV: ACB
VANCOUVER and MELBOURNE, Australia, July 18, 2017 /CNW/ - Aurora Cannabis Inc. (the
"Company" or "Aurora") (TSXV: ACB) (OTCQX: ACBFF) (Frankfurt: 21P; WKN: A1C4WM) and Melbourne based Cann Group Limited ("Cann")
(ASX: Can), today announced that the companies have entered into a
technical services agreement.
The agreement, which covers the period until the end of 2022,
will facilitate an exchange of information and support across areas
including the cultivation and processing of medical cannabis;
extraction and manufacturing technology; and analysis of cannabis
extracts.
Aurora is Canada's second
largest publicly listed medical cannabis producer and the first
Canadian company to establish purpose built cultivation facilities.
Aurora is a 19.9% shareholder of Cann, having taken a cornerstone
position at Cann's initial public offering in May of this year.
The agreement was executed at Aurora's state of the art
production facility in Mountain View County, where Aurora
management hosted a visit of the Cann Board of Directors.
Cann Chairman Allan McCallum said
the agreement with Aurora will provide critical technical support
as Cann proceeds with the expansion of its research and development
and cultivation facilities in Melbourne.
"Aurora's experience and technical know-how are recognized
around the world as industry-leading. Cann is at the forefront of
Australia's fledgling medical
cannabis industry and is committed to adopting industry
best-practices across all of our operations," said Allan McCallum, Chairman of Cann. "This
agreement will facilitate close co-operation and valuable technical
support as we continue to develop our business in the Australian
market. The agreement with Aurora strengthens our R&D
programs, cultivation, manufacturing and service to patients, and
we believe will help us build strong brand equity in the Australian
market."
Cann CEO Peter Crock added, "To
position ourselves as one of the significant players in the
Australian market, we are completing the expansion of our southern
facility, as well as expect to commission a larger capacity
northern facility by the end of this year. Aurora is incorporating
industry leading technology in the world's most advanced new
facility now under construction in Edmonton, and we will benefit greatly from a
regular exchange of information, including reciprocal visits of key
personnel."
"This agreement with Cann is a key element in executing on our
international expansion strategy," said Terry Booth, CEO. "By transferring important
operational know-how to Cann, our intention is to support not only
the development of one of the leading players in this market, but
also to accelerate the development of the broader Australian
medical cannabis sector."
The visit of Cann's Board coincided with a visit to Canada by Victorian Agriculture Minister
Jaala Pulford, who met with Aurora
management and inspected the company's facilities.
Allan McCallum said it was
pleasing that the Minister was investing the time and effort to
visit facilities and meet with industry leaders in other parts of
the world. "It is important that Australia learns from the experience gained in
countries where the industry has been established for some time and
adopts high standards and best practices."
About Cann Group
Cann Group is building a world-class business focused on
breeding, cultivating and manufacturing medical cannabis for sale
and use within Australia. The
company has established research and cultivation facilities in
Melbourne and is striving to
provide access to medical cannabis for Australian patients. Cann
Group has executed collaboration agreements that will enable it to
establish a leading position in plant genetics, breeding,
extraction, analysis and production techniques required to
facilitate the supply of medical cannabis for a range of diseases
and medical conditions.
Cann was issued with Australia's first medical cannabis research
licence in February 2017, in addition
to Australia's first medical
cannabis cultivation licence in March
2017. The company has also been issued with permits that
facilitate the establishment of breeding plants for propagation
purposes; a research program being undertaken with CSIRO to develop
unique cannabis extracts; and the supply of plant material for
manufacturing into medical cannabis products for patient use. The
first plants being cultivated by Cann are expected to be harvested
in August 2017.
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, and 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 Pointe-Claire, Quebec, on Montreal's West Island. 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, as well as
owns Pedanios, a leading wholesale importer, exporter, and
distributor of medical cannabis in the European Union ("EU"), based
in Germany. 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 includes statements containing certain
"forward-looking information" within the meaning of applicable
securities law ("forward-looking statements"). 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.