Proposed Regulations Create Framework for Vibrant
Market with Exceptional Growth Prospects
TSX: ACB
VANCOUVER, Nov. 22, 2017 /CNW/ - Aurora Cannabis Inc. (the
"Company" or "Aurora") (TSX: ACB) (OTCQX: ACBFF) (Frankfurt: 21P; WKN: A1C4WM) today commented
that the Company is encouraged by the proposed approach to the
regulation of cannabis, as published by Health Canada on
21 November 2017. The document,
presently at the consultative stage, proposes a wide range of new
regulations to create a vibrant and inclusive cannabis industry
that is anticipated to grow rapidly into multi-billion dollar
sector of the economy.
The new consultation document offers a number of proposals as to
how the cannabis industry is to function under Canada's new Cannabis Act. When adopted in
this form, the new regulations strongly validate the strategic
choices made by Aurora, such as the Company's investments in and
partnerships with Hempco (TSX-V: HEMP), and Radient Technologies
(TSX-V: RTI) that, among others, allow for the production and sale
of CBD from hemp. Additionally, of great importance for Aurora's
partner Radient, a new class of licenses would be introduced,
including that of Licensed Processor. The proposed new regulations
also validate Aurora's horizontal diversification strategy. Under
these proposals, Health Canada is enabling Licensed Producers to
enter a market segment with over three million adult use customers,
and compete with the grey market by being able to provide a much
more broadly diversified product offering.
The proposed regulations would also formalize the ability of
licensed producers to continue exporting cannabis products for
medical and scientific research purposes. Aurora, through its
wholly owned subsidiary Pedanios in Germany, owns the largest wholesale
distributor of cannabis in the EU. Aurora is therefore
exceptionally well positioned to dramatically grow in this market
with potentially over 400 million people, driven in part by the
ability to rapidly increase the production of GMP flower, oils, and
CBD-based products.
Neil Belot, Chief Global Business
Development Officer, added, "We are delighted that under these
proposals cannabis would be removed from the Controlled Drug and
Substances Act, and would instead be subject to the Cannabis Act
and its regulations. This is a historical day where our federal
government has recommended cannabis no longer be classified as a
narcotic. We are also pleased with the proposed freedom for
patients to choose the right medical cannabis supplier to meet
their specific needs, and we will continue to be a leader in this
space and provide the best patient experience possible. Finally, we
appreciate that the proposal supports a broader inclusion of
members of the community that under previous regulations were fully
excluded from participating in an industry that they have
righteously fought for."
"The proposed regulations, once implemented, further cement
Canada's position as the absolute
global leader in the cannabis sector," said Terry Booth, CEO. "When adopted, the new Act in
this form would create an incredibly vibrant market, which fosters
innovation and diversity and will allow for the pursuit of the
incredible opportunities in both the medical and adult consumer
markets. Aurora, through its diverse initiatives, innovations and
strategic investments is exceptionally well positioned to pursue
accelerated growth. The proposed broadening of the saleable product
range to include pre-rolled cannabis, vaping solutions,
concentrates, edibles, puts expanding and innovative companies such
as Aurora in a prime position to pursue this multi-billion dollar
opportunity."
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.
In addition, the Company holds approximately 9.6% of the issued
shares (12.9% on a fully-diluted basis) 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 use of proceeds from the
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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
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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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responsibility for the adequacy or accuracy of this
release.
SOURCE Aurora Cannabis Inc.