High-Margin Derivative Products Accelerating
European Revenue Growth
TSX | NYSE: ACB
EDMONTON, March 11, 2019
/PRNewswire/ - Aurora Cannabis Inc. (the "Company" or "Aurora")
(NYSE: ACB) (TSX: ACB) (Frankfurt:
21P; WKN: A1C4WM) today announced that it has commenced sales of
cannabis oils to German pharmacies following receipt of all
necessary approvals from the Canadian and German regulatory
authorities. Pedanios 5/1 drops have become the first extract
derived oil product compliant with the German monograph for
in-pharmacy preparation.
Aurora is the medical cannabis market leader in Germany. The Company has supplied the German
market with dried cannabis flower via Aurora Deutschland (formerly
Pedanios) since December 2015, and
with Canadian-grown Aurora products since September 2017. Aurora has established a strong
brand as a trusted supplier among prescribing physicians,
dispensing pharmacies, and German patients. As one of few
companies able to sell oils in this rapidly growing market, Aurora
is well positioned to establish brand leadership in the European
derivatives market.
"Having established early mover advantage in selling cannabis
oils in Germany, we are
exceptionally positioned to extend our market leadership and
accelerate growth of our European operations," said Neil
Belot, Chief Global Business Development Officer. "As our
global production capacity continues to ramp up, we are able to
strategically allocate more product from our EU GMP certified
cultivation facilities to this higher margin market that continues
to be significantly undersupplied."
About Aurora
Headquartered in Edmonton, Alberta,
Canada with funded capacity in excess of 500,000 kg per
annum and sales and operations in 24 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 16 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,
ICC Labs and Whistler – 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), Alcanna Inc. (TSX: CLIQ) and High Tide Inc. (CSE:HITI).
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 German
medical market and Aurora's ability to establish brand
leadership in the European derivatives 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.
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SOURCE Aurora Cannabis Inc.