Aurora Cannabis Completes Strategic Investment in Micron Waste Technologies
January 15 2018 - 7:00AM
InvestorsHub NewsWire
Companies Finalize
Collaboration Agreement
Edmonton, AB and Vancouver, BC
– January 15, 2018 --
InvestorsHub NewsWire -- Aurora Cannabis Inc. (“Aurora”) (TSX:
ACB) (OTCQB:
ACBFF) (Frankfurt: 21P; WKN: A1C4WM)
and Micron Waste Technologies
Inc. (“Micron”) (CSE: MWM,
OTC:
MICWF, Frankfurt: 7FM2),
a developer of proprietary digester solutions for the treatment of
organic waste, today announced that Aurora has completed a
strategic investment in Micron and that the companies have
finalized a collaboration agreement pursuant to which both
companies will collaborate on the optimization of Micron’s
technology for the treatment of organic waste generated in the
cultivation and production of cannabis products.
Micron has developed a new
technology, based on aerobic digestion and subsequent treatment,
that converts organic waste into clean water that meets municipal
effluent discharge standards. Currently used methods to dispose of
organic waste generally require the utilization of municipal
landfill sites, which is costly and has a negative impact on the
environment. The merits of Micron’s technology have been
successfully demonstrated with a grocery supermarket chain located
in British Columbia, Canada, with whom Micron has entered into an
Memorandum of Understanding to review additional
installations.
Micron will now install a
digester unit at one of Aurora`s facilities, where the companies
will jointly work to optimize the digestor for the cannabis
industry. Upon successful completion of the project, Aurora intends
to acquire multiple units for its various facilities. Micron will
retain the intellectual property related to the digestor, and shall
pay Aurora a 4% royalty for every unit sold to other licensed
producers globally. Upon the first successful sale of a digestor
within the cannabis industry, Micron shall issue to Aurora 2
million common shares.
“Micron`s technology is a very
elegant solution to a time consuming and relatively costly
operation at the end of our production process,” said Terry Booth,
CEO. “We love the combination of the technology`s positive
environmental impact with its cost effectiveness. Upon successful
completion of the optimization process, we will have access to yet
another innovation to improve our facilities, and we look forward
to working with the Micron team to bring this very promising
technology to the cannabis sector.”
Rav Mlat, CEO of Micron, added,
“Aurora with its innovative mindset is the ideal partner to develop
a commercially ready unit for the cannabis industry. Becoming part
of Auroras `growing constellation of technology partners would
result in considerably expanded market reach, accelerate
development of this side of our business, and provide strong brand
recognition for Micron. We are also pleased having been able to
attract additional strategic investors in our placement, raising
further funds to accelerate the development of commercial solutions
for expansion into other sectors”
Strategic investment – private
placement
Aurora also completed a
strategic investment in Micron, taking a 6.46% ownership interest
on a non-diluted basis, by acquiring 4.411,765 units, for a total
investment of $1.5 million, as part of a private placement. The
full placement consisted of 6,790,000 units for total gross
proceeds of $2.3 million. Each unit consists of one common share
and one common share purchase warrant, priced at $0.50, with an
expiry date of 2 years following the closing of the
placement.
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 17.23% 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
22.9% 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
Micron Waste Technologies Inc.
Micron Waste Technologies Inc is a
well funded technology company. The Company’s organic waste
digestion system is designed to manage organic waste on-site,
converting it into clean water. The Company’s aerobic digester has
micro-oxygen cubicles technology to enhance the digestion
efficiency of microorganisms by up to 95%, with the remaining 5% of
undigested particles undergoing further treatment, resulting in
clean water effluent that meets municipal effluent discharge
standards. Micron’s technology is an ideal solution to handle
organic waste on-site in view of the drive for further cost
efficiencies, as well as ever stricter legislation being
implemented to prohibit organic waste from entering landfill sites
around the world. Please visit our website at www.micronwaste.com
for further information. Micron is a
public company with listings on the CSE: MWM,
OTC:
MICWF, and in Frankfurt: 7FM2.
On behalf of the Boards of
Directors,
AURORA CANNABIS
INC.
MICRON WASTE TECHNOLOGIES INC.
Terry
Booth
Rav Mlait
CEO
CEO
Further
information:
FOR
AURORA
Cam
Battley
Marc Lakmaaker
Executive Vice
President
Director, Investor Relations
and
+1.905.864.5525
Corporate Development
cam@auroramj.com
+1.647.269.5523
www.auroramj.com
marc.lakmaaker@auroramj.com
FOR
MICRON
Investor Relations
+1.844.318.8216
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 successful completion of the
optimization process and the market acceptance of Micron`s
solutions. 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 or
CSE, nor their Regulation Services Provider (as that term is
defined in the policies of Toronto Stock Exchange and the CSE)
accept responsibility for the adequacy or accuracy of this
release.
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