TSX | NYSE: ACB
EDMONTON,
Feb. 20, 2019 /CNW/ - Aurora
Cannabis Inc. (the "Company" or "Aurora") (NYSE: ACB)
(TSX: ACB) (Frankfurt: 21P; WKN:
A1C4WM) announced today that Michael
Singer, previously Chairman of the Board, has been appointed
Executive Chairman of the Board of Directors. The Company also
announced that independent director Ronald
Funk has been named Lead Independent Director and Margaret
("Shan") Atkins has been appointed as a new
independent director and Chair of the Audit Committee. Diane Jang, who served on the Company's board
since November 2017, has voluntarily
resigned her position as Director of Aurora.
"As Aurora continues to mature into one of
the world's largest and leading cannabis companies, it
is important that our Board continues to examine its composition to
ensure that its experience and expertise aligns with the Company's
strategic direction," said Michael
Singer, Executive Chairman. "The changes announced today
ensure that our Board is well-equipped to continue to provide that
guidance and strong oversight to the Company. In my
new role I will continue to work closely with our CEO,
Terry Booth, and the rest of our
senior executive team on all matters pertaining to strategic
direction, execution and finance. Ron, with his exceptional senior
leadership track record and experience, has been a valuable
contributor as an independent director and is now positioned to
play a more critical role as our Lead Independent Director. He will
work closely with Norma Beauchamp,
Chair of the Governance Committee, to continue to advance and
further enhance our corporate governance practices."
Appointment of Shan
Atkins
The Company also appointed Shan
Atkins as a new independent director and Chair of the Audit
Committee. Ms. Atkins brings deep experience in public company
governance and leadership in global retail and healthcare
companies, such as Shoppers Drug Mart, Tim
Hortons and Sears, Roebuck & Company. Her expertise in
overseeing public company reporting for both large Canadian and
U.S. listed companies will prove an important asset for Aurora,
which is dual listed on the TSX and NYSE.
Ronald Funk, Lead
Independent Director, added, "Shan's expertise on the boards of
both Canadian and U.S. public companies further strengthens the
governance function at Aurora. Additionally, her track record in
industry verticals with great relevance to Aurora provides
tremendous value as the Company develops, and we look forward to
welcoming her on the board as an independent member and head of our
Audit Committee."
Shan
Atkins
Ms. Atkins brings over 20 years of corporate leadership of
experience to Aurora. A Certified Public Accountant, she spent
fourteen years at Bain & Company, where she became a partner
and leader in the firm's global consumer and retail practice. She
also maintained a secondary practice in healthcare, working in Rx
and OTC pharmaceuticals and in the hospital industry. Ms. Atkins
also served as Executive VP of Sears, Roebuck & Company
(USA) and since 1999, she has
served as an independent director on ten public and private
corporate boards in the U.S. and Canada. She is currently on the boards of
Darden (NYSE: DRI), SpartanNash (NASD: SPTN), SunOpta (NASD: STKL;
TSX: SOY) and LSC Communications (NYSE: LKSD). Previously, Ms.
Atkins served on the boards of Shoppers Drug Mart, Tim Hortons and The Pep Boys. She is a graduate
of Queen's University and the Harvard Business
School.
Resignation of Diane
Jang
Diane Jang, CEO of Hempco
Food and Fiber ("Hempco") has voluntarily resigned from her
position on Aurora's board of directors. Ms. Jang was appointed to
the Company's board in November 2017,
and made important contributions in the development of the
Company's hemp strategy.
Mr. Singer added, "We wish to thank Diane for her
important contributions towards establishing Aurora's strong
position in the domestic and international hemp business, which
will remain her focus going forward as CEO of Hempco, in which we
have a controlling ownership interest."
Options and DSU Grant
The Company has awarded a Director of the Company 28,000
options, pursuant to the Company's Stock Option Plan, exercisable
at a price of $9.43 per common share.
The options shall vest over a period of three years in equal annual
installments. Additionally, the Company has granted 5,000 Deferred
Share Units, vesting over 12 months in equal quarterly
installments.
About Aurora
Headquartered in Edmonton,
Alberta, Canada with funded capacity in excess of 500,000 kg
per annum and sales and operations in 23 countries across five
continents, Aurora is one of the world's largest and leading
cannabis companies. Aurora is vertically integrated and
horizontally diversified across every key segment of the value
chain, from facility engineering and design to cannabis breeding
and genetics research, cannabis and hemp production, derivatives,
high value-add product development, home cultivation, wholesale and
retail distribution.
Highly differentiated from its peers, Aurora has
established a uniquely advanced, consistent and efficient
production strategy, based on purpose-built facilities that
integrate leading-edge technologies across all processes, defined
by extensive automation and customization, resulting in the massive
scale production of high quality product at low cost. Intended to
be replicable and scalable globally, our production facilities are
designed to produce cannabis of significant scale, with high
quality, industry-leading yields, and low per gram production
costs. Each of Aurora's facilities is built to meet EU GMP
standards, and its first production facility, the recently acquired
MedReleaf Markham facility, and its wholly owned European medical
cannabis distributor Aurora Deutschland have achieved this level of
certification.
In addition to the Company's rapid organic growth and
strong execution on strategic M&A, which to date includes 15
wholly owned subsidiary companies – MedReleaf, CanvasRX, Peloton
Pharmaceutical, Aurora Deutschland, H2 Biopharma, Urban Cultivator,
BC Northern Lights, Larssen Greenhouses, CanniMed Therapeutics,
Anandia Labs, HotHouse Consulting, MED Colombia, Agropro, Borela,
and ICC Labs – Aurora is distinguished by its reputation as a
partner and employer of choice in the global cannabis sector,
having invested in and established strategic partnerships with a
range of leading innovators, including: Radient Technologies Inc.
(TSXV: RTI), Hempco Food and Fiber Inc. (TSXV: HEMP), Cann Group
Ltd. (ASX: CAN), Micron Waste Technologies Inc. (CSE: MWM), Choom
Holdings Inc. (CSE: CHOO), Capcium Inc. (private), Evio Beauty
Group (private), Wagner Dimas (private), CTT Pharmaceuticals (OTCC:
CTTH), and Alcanna Inc. (TSX: CLIQ).
Aurora's Common Shares trade on the TSX and NYSE under the
symbol "ACB", and are a constituent of the S&P/TSX Composite
Index.
For more information about Aurora, please visit our
investor website,
investor.auroramj.com
Neither the TSX,
NYSE nor their Regulation Services Provider (as that term is
defined in the policies of the TSX and NYSE) accepts responsibility
for the adequacy or accuracy of this release.
Terry Booth,
CEO
Aurora Cannabis
Inc.
Forward-Looking Statements
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 and include, but are not limited to the
variety of cannabis products that Aurora will supply to the adult
use market.. 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.
SOURCE Aurora Cannabis Inc.