TSX: ACB CSE: N
VANCOUVER, Nov. 27, 2017 /CNW/ - Aurora Cannabis Inc. (the
"Company" or "Aurora") (TSX: ACB) (OTCQX: ACBFF) (Frankfurt: 21P; WKN: A1C4WM) and Namaste
Technologies Inc. ("Namaste") (CSE: N) (FRANKFURT: M5BQ) (OTCMKTS:
NXTTF) are pleased to announce that Aurora's wholly owned
subsidiary BC Northern Lights ("BCNL") and Namaste Technologies
have signed a Hardware Supply Agreement (the "Agreement") whereby
Namaste will be the first third-party distributor to sell BCNL's
premium home cultivation systems and accessories through its online
technology platform.
Namaste will roll out same-day delivery service of select BCNL
products to the Greater Toronto
Area ("GTA"), as well as next day delivery in most other
parts of Canada, to help meet the
growth in demand for home gardening systems anticipated with the
passing of the federal Cannabis Act (the "Act") to legalize adult
consumer use, as well as continued rapid growth of the medical
cannabis market.
Legislation announced by the Ontario Government foresees a
provincial monopoly on cannabis sales upon introduction of adult
consumer use, with only a limited number of stores servicing
Canada's most populous province.
As the Act does allow for up to four cannabis plants per household,
it is anticipated that home gardening will become an increasing
segment of the market. This creates an opportunity that BCNL, with
its gold standard products and strong brand recognition, is
exceptionally well positioned to capitalize on.
The Agreement is expected to accelerate BCNL product sales and
create a new revenue channel for Namaste by leveraging its existing
traffic, distribution network, and e-commerce platform, and is
aligned with Namaste's intention to offer the most extensive range
of high-quality ancillary products in the cannabis industry. The
distributorship of BCNL products follows on an earlier agreement
between the two companies, as announced on September 28, 2017, through which Aurora, through
its website, is offering a specially curated selection of
industry-leading, Namaste-sourced vaporizers to its registered
patient base, utilizing Namaste's technology platform and delivery
infrastructure.
Management Commentary
"Aurora and our growing constellation of top-notch subsidiaries
have become partners of choice in this sector, at home and around
the world, and that's extremely gratifying," said Terry Booth, Aurora's CEO. "It speaks to the
power of the Aurora Standard in terms of product quality and
customer care, to the trust we inspire in our partners, and to our
ability to execute fast and well. We love bringing great companies
together, and we're delighted that Namaste is now helping us bring
BCNL's excellent, efficient and elegant cultivation products to an
even broader audience of customers."
Sean Dollinger, President and CEO
of Namaste said, "We are very proud to have signed this Agreement
with BCNL and to bring value to our relationship with Canada's most dynamic licensed producer. We
greatly value our relationship with Aurora. Namaste sees large
growth potential in home-based indoor cultivation industry and has
high expectations for sales through this new channel. This
Agreement further exemplifies Namaste's role as the industry's
leading e-commerce retailer in offering the most innovative
products along with partners like Aurora. The ancillary market, in
our experience, is ideal for e-commerce penetration and offers very
substantial expansion opportunities, and we would like to thank
both the Aurora and BCNL management teams for this amazing
opportunity."
About BC Northern Lights
Founded in 2001 and with over 10,000 units sold, BCNL is a
leader in developing, manufacturing and marketing self-contained
indoor hydroponic grow systems. BCNL's offerings include grow boxes
and cultivation consumables such as lights, carbon filters, grow
medium and specialized nutrients, as well as seven days per week
support for its customers. The nature of BCNL's systems enables
year-long, consistently high yields of cannabis within a safe,
efficient, and discrete environment. BCNL's multi-award winning
systems provide for discreet and odorless operations.
Professionally engineered, BCNL's products provide the highest
level of safety, addressing one of the key concerns neighbours
living in the vicinity of home growers may have, particularly in
multi-dwelling settings. www.bcnorthernlights.com
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, known as "Aurora
Mountain", a second 40,000 square foot high-technology production
facility known as "Aurora Vie" in Pointe-Claire, Quebec on Montreal's West Island, and is currently
constructing an 800,000 square foot production facility, known as
"Aurora Sky", at the Edmonton
International Airport, as well as is completing a fourth facility
in Lachute, Quebec through its
wholly owned subsidiary Aurora Larssen Projects Ltd.
In addition, the Company holds approximately 9.6% of the issued
shares (12.9% on a fully-diluted basis) in leading extraction
technology company Radient Technologies Inc., based in Edmonton, and is in the process of completing
an investment in Edmonton-based
Hempco Food and Fiber for an ownership stake of up to 50.1%.
Furthermore, Aurora 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 also
owns Pedanios, a leading wholesale importer, exporter, and
distributor of medical cannabis in the European Union, based in
Germany. The Company offers
further differentiation through its acquisition of BC Northern
Lights Ltd. and Urban Cultivator Inc., industry leaders,
respectively, in the production and sale of proprietary systems for
the safe, efficient and high-yield indoor cultivation of cannabis,
and in state-of-the-art indoor gardening appliances for the
cultivation of organic microgreens, vegetables and herbs in home
and professional kitchens. Aurora's common shares trade on the TSX
under the symbol "ACB".
About Namaste Technologies Inc.
Namaste is the largest online retailer for medical cannabis
delivery systems globally. Namaste distributes vaporizers and
smoking accessories through e-commerce sites in 26 countries and
with 5 distribution hubs located around the world. Namaste has
majority market share in Europe
and Australia, with operations in
the UK, US, Canada and
Germany and has opened new supply
channels into emerging markets including Brazil, Mexico and Chile. Namaste, through its acquisition of
Cannmart Inc., a Canadian based late-stage applicant for a medical
cannabis distribution license (under the ACMPR Program) is pursuing
a new revenue vertical in online retail of medical cannabis in the
Canadian market. Namaste intends to leverage its existing database
of Canadian medical cannabis consumers, along with its expertise in
e-commerce to create an online marketplace for medical cannabis
patients, offering a larger variety of product and a better user
experience.
On behalf of the Board of Directors
Terry
Booth,
|
|
|
|
|
|
Sean
Dollinger
|
Chief Executive
Officer
|
|
|
|
|
|
Chief Executive
Officer
|
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. Aurora and Namaste are 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.
Neither TSX, nor CSE, nor their Regulation Services Provider
(as that term is defined in the policies of Toronto Stock Exchange
and Canadian Securities Exchange) accept responsibility for the
adequacy or accuracy of this release.
SOURCE Aurora Cannabis Inc.