TSX: ACB
EDMONTON, Sept. 18, 2018 /CNW/ - Aurora Cannabis Inc.
("Aurora" or the "Company") (TSX: ACB) (OTCQB: ACBFF) (Frankfurt: 21P; WKN: A1C4WM) today announced
it, and its wholly-owned subsidiary MedReleaf, have entered into
additional supply arrangements with a number of provinces across
Canada to supply a broad range of
dried flower and higher margin products, such as pre-rolls, oils
and capsules. In addition to supplying adult-consumer use markets
in British Columbia, Alberta, Ontario, Quebec and Nova
Scotia, the Company is pleased to advise of arrangements
with Yukon, Manitoba, Prince
Edward Island and Newfoundland and Labrador. The Aurora and MedReleaf brands are
expected to have a strong presence across Canada, positioning the Company well for rapid
growth in the upcoming adult use market.
Appointment Darren Karasiuk,
EVP of Adult Usage, Global
The Company also announces the appointment of Darren Karasiuk as its new Executive Vice
President of Adult Usage, Global. Mr. Karasiuk will be responsible
for the execution of Aurora's commercial adult use strategy, which
includes oversight of adult use retail, marketing, sales, business
intelligence and analytics, partnerships and customer service.
Mr. Karasiuk joins Aurora through the acquisition of MedReleaf
where he was Senior Vice-President and GM, recreational where he
was responsible for MedReleaf's adult use cannabis business which
included the development and introduction of the AltaVie and San
Rafael '71 brands into the marketplace, as well as the stewardship
of the partnership with the Woodstock Cannabis Company.
Mr. Karasiuk has deep experience in highly regulated industries,
including private and public healthcare, pharma, tobacco, consumer
packaged goods, and energy. Prior to joining MedReleaf, Mr.
Karasiuk was Vice-President, Insights and Advisory at Deloitte
where he was a leader in the firm's cannabis practice, co-authoring
the firm's seminal study, "Recreational Marijuana: Insights and
Opportunities." Previously, Mr. Karasiuk was Vice-President,
Strategy, Corporate and Public Affairs at Environics Research,
where he conducted many of Canada's earliest engagements on the cannabis
sector. He has also been the Canadian associate for the Marijuana
Policy Group, a leading Denver-based economic and policy consulting
firm which helped shape the regulated medical and recreational
cannabis markets. Mr. Karasiuk holds an MA from Western University and an MBA from
Kellogg-Schulich.
Management Commentary
"We have now secured important supply arrangements from coast to
coast, covering approximately 98% of the Canadian population,
reflecting the scale and quality of our operations," said
Terry Booth, CEO. "We will supply a
large number of products to the adult use market, including dried
flower, and higher margin form factors, such as capsules, oils, and
pre-rolls. We are also exceptionally pleased that Darren has agreed
to join our team and take on the leadership of Aurora's adult usage
business. His expertise in market development within heavily
regulated environments, his track record in bringing adult usage
brands to market, and his connections and credibility throughout
the industry are invaluable assets for us. We welcome Darren
and look forward to working closely with him as Aurora rises to new
heights."
Mr. Karasiuk added, "Aurora is an exceptional company,
innovating and executing at the most rapid pace in the industry.
The strengths of both companies – high-volume, low-cost cultivation
capacity, product quality, brands and people - position us well to
grow rapidly in these new and exciting markets. I look forward to
being part of the team."
Granting of Stock Options and Restricted Share Units to
Officers
The Company also announced today that it has granted an
aggregate of 205,000 stock options and 55,000 restricted share
units to officers of the Company. The stock options are exercisable
at a price of $8.54 per share for a
period of five years from the date of grant. Both options and RSUs
vest annually over 36 months.
About Aurora
Headquartered in Edmonton, Alberta,
Canada with funded capacity in excess of 500,000 kg per year
and sales and operations in 18 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 ultra-low costs. 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 its first production facility, the recently
acquired MedReleaf Markham facility, and its wholly owned European
medical cannabis distributor Aurora Deutschland (formerly
Pedanios), 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 companies
– MedReleaf, CanvasRX, Peloton Pharmaceutical, Aurora
Deutschland (formerly Pedanios), H2 Biopharma, Urban Cultivator, BC
Northern Lights, Larssen Greenhouses, CanniMed Therapeutics,
Anandia Labs, HotHouse Consulting, Agropro, Borela, and the pending
acquisition of ICC 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), Evio Beauty Group (private), Wagner Dimas
(private), CTT Pharmaceuticals (OTCC: CTTH), 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 more information about Aurora, please visit our investor
website, investor.auroramj.com, Twitter, Facebook or Instagram
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.
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.
SOURCE Aurora Cannabis Inc.