- Aurora strategically positioned within two of the largest
legal cannabis markets outside of Canada
- Agreement with Israeli leader Cantek provides access to
Israel's drugstore channel
- Finished product is co-branded under Aurora and Cantek
brands
NYSE | TSX: ACB
EDMONTON, AB, Nov. 25, 2020 /PRNewswire/ - Aurora Cannabis Inc.
(the "Company" or "Aurora") (NYSE: ACB) (TSX: ACB), the Canadian
company defining the future of cannabinoids worldwide, announced
today it has entered into a strategic Supply Agreement (the
"Agreement") with Cantek Holdings ("Cantek"), one of Israel's
leaders in the medical cannabis field.
Under the terms of the Agreement, Aurora will supply Cantek with
dried bulk flower over a two-year period, with the option to
extend. The Company intends to provide Cantek with a minimum of
4,000 kgs of bulk dried flower annually, which will be processed
into finished product, and co-branded under the Aurora and Cantek
brand names for the Israeli market with the potential for
additional international market sales. Having secured all
necessary export and import permits, the initial shipment of
cannabis under the Agreement occurred during the week of
November 16, 2020.
"We are excited about our strategic relationship with Cantek, a
leader in the Israeli market. This Agreement provides Aurora with a
great opportunity to expand our medical cannabis brand and industry
leading science in one of our key international markets of focus,"
said Miguel Martin, Chief Executive
Officer of Aurora. "Today's announcement demonstrates more than
just a supply agreement. It's about the strength and quality of the
Aurora medical brand being validated once again by the world's
medical cannabis markets, including countries like Israel in which
we had no distribution prior to today. We consider this Agreement
to be a significant step for Aurora, and we look forward to
bringing our high-quality medical cannabis products to patients in
Israel."
"We are proud to partner with Aurora, a global leader who shares
with us the same quality values and commitments of meeting
patients' needs and improving their quality of life. This is a vote
of confidence in Cantek's leadership and the Israeli market," said
Netsah Israel, Chief Executive
Officer of Cantek."
Cantek is one of the leading Medical Cannabis enterprises in
Israel, with a foothold across the
entire value chain of the medical cannabis industry in Israel. Cantek holds strategic partnerships
with prominent drugstore chains, distribution companies, clinics
and is deeply involved with Israel's growing medical cannabis
patient community.
Aurora is now strategically positioned in two of the largest
legal medical cannabis markets outside of Canada – Germany and now Israel, one of the largest
importers of medical cannabis in the world. The Company plans to
continue to leverage its market leadership as it further develops
its medical cannabis markets internationally in key markets.
About Aurora
Aurora is a global leader in the cannabis
industry serving both the medical and consumer markets.
Headquartered in Canada, Aurora is
a pioneer in global cannabis dedicated to helping people improve
their lives. The Company's brand portfolio includes Aurora, Aurora
Drift, San Rafael '71, Daily Special, AltaVie, MedReleaf, CanniMed,
Whistler, and Reliva. Providing customers with innovative,
high-quality cannabis and hemp products, Aurora's brands continue
to break through as industry leaders in the medical, performance,
wellness and recreational markets wherever they are launched. For
more information, please visit our website at www.auroramj.com.
Aurora's Common Shares trade on the TSX and NYSE under the
symbol "ACB", and is a constituent of the S&P/TSX Composite
Index.
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
term of the contract, the amount of cannabis to be exported to
Israel by the Company and the receipt of necessary export and
import permits for each shipment of cannabis. These
forward-looking 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, estimates and assumptions of management in light of
management's experience and perception of historical trends,
current conditions and expected developments at the date the
statements are made, such as current and future market conditions,
the current and future regulatory environment and future approvals
and permits. Forward-looking statements are subject to a variety of
risks, uncertainties and other factors that management believes to
be relevant and reasonable in the circumstances could cause actual
events, results, level of activity, performance, prospects,
opportunities or achievements to differ materially from those
projected in the forward-looking statements, including general
business and economic conditions, changes in laws and regulations,
product demand, changes in prices of required commodities,
competition, the effects of and responses to the COVID-19 pandemic
and other risks, uncertainties and factors set out under the
heading "Risk Factors" in the Company's annual information form
dated September 24, 2020 (the "AIF")
and filed with Canadian securities regulators available on the
Company's issuer profile on SEDAR at www.sedar.com. The Company
cautions that the list of risks, uncertainties and other factors
described in the AIF is not exhaustive and other factors could also
adversely affect its results. Readers are urged to consider the
risks, uncertainties and assumptions carefully in evaluating the
forward-looking statements and are cautioned not to place undue
reliance on such information. 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 securities laws.
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SOURCE Aurora Cannabis Inc.