TSX: ACB
EDMONTON, Jan. 23, 2018 /CNW/ - Aurora Cannabis Inc.
("Aurora" or the "Company") (TSX: ACB) (OTCQB: ACBFF) (Frankfurt: 21P; WKN: A1C4WM) is pleased to
provide the following update on the Company's international
activities.
Denmark: Acceleration to
Market
Further to Aurora's January 4,
2018 news release, the Company's Aurora Nordic joint venture
will be accelerating its time to market in Denmark with the retrofit of an existing
100,000 square foot greenhouse in Odense,
Denmark owned by Alfred
Pedersen & Søn ("APS"). Subject to licensing by
Lægemiddelstyrelsen, Denmark's Medicines Agency, this
will enable Aurora Nordic to commence the cultivation of cannabis
during the summer of 2018, while the company is constructing its
new purpose-built high-technology 1,000,000 square foot production
facility.
Italy: First Tender
Further to the Company's news release of January 18, 2018, Aurora today announces that the
amount of product for the first tender consists of three lots with
different cannabinoid profiles, totaling 100 kg. Further orders by
the Italian Ministry of Defense will be subject to additional
tender processes, in which Aurora and Pedanios will continue to
participate. While the first tender was set at 100kg, the Italian
Ministry of Defense has the option to increase the amount
requested.
This is Aurora's first step into supplying the tightly
restricted Italian market, and provides Aurora with first mover
advantage. Prior to the new tender process, medical cannabis in
Italy has been supplied through
two sources only: the Ministry of Defense, and seven distributors
licensed to procure medical cannabis from the Ministry of Defense,
or source internationally from the Dutch Office of Medicinal
Cannabis. No import licenses from other sources into the Italian
market have been granted to date.
Germany: Rapid Market
Growth
The German market continues to develop rapidly. During the
period covering March 2017 to end of
November 2017, approximately 13,000
people applied for reimbursement of their medical cannabis
prescription, with a 65% approval rate. Insurance company AOK
Versicherung, which represents approximately 50% of all insured
people in Germany, published that
in December 2017 alone, approximately
7,500 people applied for reimbursement through that company, which
implies a national figure of 15,000 for all of Germany, for that single month.
To date, Pedanios remains the EU's largest distributor of
cannabis by volume of product sold, has completed deliveries
to over 2,200 pharmacies, and continues to build market share
rapidly. Pedanios remains the only distributor to offer cannabis
flower sourced from both Canada
and the Netherlands, and offers 11
of the 15 licensed varieties in Germany.
Australia: Import/Export
Permit Granted
Cann Group has been granted a license to import and/or export
cannabis genetics and medicinal cannabis products by the Australian
government's Department of Health, through the Office of Drug
Control (ODC). The license enables Cann Group to import genetics
from Aurora to help broaden the company`s portfolio of medical
cannabis products, pending Aurora's receipt of an export permit
from Health Canada.
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".
On behalf of the Boards 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 performance of the
Company. 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) accept
responsibility for the adequacy or accuracy of this
release.
SOURCE Aurora Cannabis Inc.