TSX: ACB CSE: CRZ
EDMONTON and OTTAWA, July 11,
2018 /CNW/ - Aurora Cannabis Inc. ("Aurora") (TSX: ACB)
(OTCQB: ACBFF) (Frankfurt: 21P;
WKN: A1C4WM) and CannaRoyalty Corp. (CSE: CRZ) (OTCQX: CNNRF)
("CannaRoyalty") (together the "Companies") today announced
that the Companies have signed a binding term sheet (the
"Agreement") whereby Aurora is purchasing CannaRoyalty's exclusive
Canadian license to use and commercialize pre-roll technology
developed by Wagner Dimas for an aggregate consideration of
C$7 million in Aurora common shares
(the "Purchase Price"). Closing of the Agreement is subject to
certain conditions, including regulatory approval.
"Pre-rolls are a rapidly growing, in-demand segment of the
international cannabis market and the Wagner Dimas's technology has
substantial competitive advantages over peers in terms of
throughput, quality and diversity," said Terry Booth, CEO of Aurora. "This Agreement
reflects Aurora's strategy to continue broadening our high-quality
product portfolio by expanding into value add products for both the
medical and adult consumer markets. Wagner Dimas has a proven
record of producing many of the leading pre-roll brands in a number
of mature cannabis markets, and we look forward to introducing this
high throughput, high-quality pre-roll technology to the Canadian
market."
Marc Lustig, CEO of CannaRoyalty,
added, "The Agreement to transfer our Canadian license to the
Wagner Dimas technology aligns with and advances our focused
business strategy of building out our distribution and brand
network in our core market of California. This successful liquidity event
for one of our early investments validates our approach as a
strategic investor in the cannabis industry, while at the same time
providing us with equity exposure to Aurora's future growth"
Unless otherwise agreed to by both parties, the Agreement will
be closed within 15 business days of its signing.
About Aurora
Headquartered in Edmonton,
Alberta, with funded capacity in excess of 430,000 kg per
year and sales and operations in 14 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. Aurora, from day one of its existence, has
been steadfast in its respect for the cannabis community, the
culture and its pioneers, as well as has been a strong supporter of
and advocate for access to cannabis.
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. Intended to be replicable and
scalable globally, these production facilities are designed to
produce cannabis of significant scale, with high quality,
industry-leading yields, and ultra-low per gram production costs.
Each of Aurora's facilities is built to meet European Union (EU)
GMP standards, and both its first production facility and its
wholly owned European medical cannabis distributor Pedanios have
achieved this level of certification.
In addition to our rapid organic growth to over 1000 employees
world-wide, and strong execution on strategic M&A, which to
date includes nine companies acquired - CanvasRX, Peloton
Pharmaceutical, Pedanios, H2 Biopharma, Urban Cultivator, BC
Northern Lights, Larssen, CanniMed Therapeutics, and Anandia Labs -
Aurora is distinguished by its reputation as a partner of choice
and employer of choice in the global cannabis sector, having
invested in and established strategic partnerships with a range of
leading innovators, including: The Green Organic Dutchman Holdings
Ltd. (TSX: TGOD), 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), Namaste Technologies Inc. (TSXV: N), and Alcanna Inc.
(TSX: CLIQ).
Aurora's Common Shares trade on the TSX under the symbol "ACB",
and are a constituent of the S&P/TSX Composite Index.
For detailed investor information about Aurora, please visit our
investor website investor.auroramj.com.
About CannaRoyalty
CannaRoyalty is an active operator and investor in the global
cannabis industry, with a strong focus on California, the world's largest cannabis
market. Our core mission is to become the leading global consumer
product goods company for discerning cannabis consumers. We are
currently focused on building a diversified portfolio of
manufacturing, distribution, intellectual property, and
infrastructure assets to achieve this goal. Our leadership team
combines a passion and hands-on understanding of the cannabis
industry, with seasoned financial and legal expertise.
CannaRoyalty's shares trade on the Canadian Stock Exchange (CSE)
under the symbol CRZ and internationally on the OTCQX under the
symbol CNNRF.
About Wagner Dimas
Wagner Dimas is an Intellectual Property company focused on
engineering and developing technology for large scale manufacturing
in a variety of applications including automated high production
scale rolling machines to mass manufacture hemp and cannabis
pre-rolls and cones. Wagner Dimas has assumed the leadership
position in pre-roll manufacturing equipment and process. The
company's licensees have experienced significant demand for both
its co-packing and contract manufacturing services with over 20
cannabis brands, dispensaries, and cultivators, who are now able to
provide their patients and customers with an unparalleled quantity
and quality of finished product.
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. 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) accepts
responsibility for the adequacy or accuracy of this
release.
Terry Booth, CEO
Aurora Cannabis Inc.
SOURCE Aurora Cannabis Inc.