TSX: ACB
VANCOUVER, Dec. 5, 2017 /CNW/ - Aurora Cannabis Inc.
(the "Company" or "Aurora") (TSX: ACB) (OTCQB: ACBFF) (Frankfurt: 21P; WKN: A1C4WM) today announced
that, further to its press releases of November 23, 2017, the Company has completed the
acquisitions of Larssen Ltd, a globally leading greenhouse
engineering and design consultancy, and that of H2 Biopharma, a
late-stage ACMPR applicant based in Quebec.
Larssen has set the industry standard in high-tech, automated,
environmentally controlled greenhouses for over 30 years, has
consulted on the design, engineering, and construction oversight of
many of the world's most advanced greenhouse cultivation
facilities, having been involved with over 1,000 projects around
the globe. Larssen currently is involved in 15 cannabis projects,
five of which are with Canadian Licensed Producers.
H2 is currently completing a state-of-the-art, purpose-built
48,000 square foot cannabis production facility (the "Lachute facility"), less than an hour from
Montreal, which, upon completion,
is projected to produce approximately 4,500 kilograms of
high-quality cannabis per annum, with significant expansion
potential on 46 acres (19 hectares) of land, which H2 has the right
to acquire for $136,000. Aurora
Larssen Projects Ltd. ("ALPS"), which was recently incorporated as
Aurora's greenhouse design and consulting arm, will play an
important role in the completion of this newest Aurora facility to
EU GMP standards.
"These are two important acquisitions for Aurora that clearly
show how our growing constellation of trusted partners and
subsidiaries accelerate shareholder value creation through
strategic synergies," said Terry
Booth, CEO. "Larssen's pedigree in designing the world's
most technologically advanced and efficient greenhouses will be
leveraged for the completion of our new Lachute Facility. The
addition of this latest facility will increase our capacity to
serve the domestic and export markets, and signals our major
commitment to operations in Quebec,
Canada's second most populous province."
Tracking for $6 million in fiscal
2018 revenues, the Larssen transaction will be immediately
accretive. Completion of the H2 facility is anticipated for
early calendar 2018 with production, and therefore additional
revenues, anticipated shortly thereafter.
In consideration of the H2 acquisition, Aurora has issued
4,789,273 common shares of Aurora to the H2 vendors, at a price of
$5.22 per share, based on 90% of the
VWAP of the Aurora common shares for the 5 days immediately prior
to signing of the share purchase agreement. Of these shares,
1,728,718 are released to the H2 vendors immediately, and the
remaining shares have been put into escrow and are subject to
release to the H2 vendors or cancellation, based on the achievement
of certain operational milestones.
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 19.18% of the
issued shares 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".
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"), including, but not
limited to, statements with respect to the closing of the
Acquisition and the performance of the Company, including, but not
limited to, H2 Biopharma. 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.
Neither TSX nor its Regulation Services Provider (as that
term is defined in the policies of Toronto Stock Exchange) accepts
responsibility for the adequacy or accuracy of this
release.
SOURCE Aurora Cannabis Inc.