TSX: ACB TSX-V: HEMP
EDMONTON and VANCOUVER, March 26,
2018 /CNW/ - Aurora Cannabis Inc. ("Aurora") (TSX:
ACB) (OTCQB: ACBFF) (Frankfurt:
21P; WKN: A1C4WM) and Hempco Food and Fiber Inc ("Hempco")
(TSX-V: HEMP) announced today that Aurora has exercised 10,558,676
warrants to purchase common shares of Hempco for total proceeds of
$4.3 million to Hempco. Consequent
the warrant exercise, Aurora now owns 21,117,352 Hempco common
shares, reflecting an ownership interest of approximately 35%.
"With this further investment by Aurora we are now very well
capitalized to accelerate our various strategic initiatives to
drive growth at Hempco," said Diane
Jang, CEO of Hempco. "Since taking the helm at Hempco, we
have made a number of tactical and strategic moves that position
the company well to take advantage of a number of opportunities in
the health lifestyle food supplements market, as well as for the
pet and equine markets. Additionally, with the positive vote on the
second reading of Bill C-45 in the Senate, implementation of the
new Cannabis Act is that much closer, which would position us very
well for whole-plant utilization and further acceleration of our
business plan. These funds, and the presence of a large, stable
shareholder, puts Hempco in a strong position to pursue a multitude
of opportunities and create further shareholder value."
Terry Booth, CEO of Aurora,
added, "This additional investment in Hempco was anticipated from
Day 1 of our strategic partnership. We are pleased with the work
done by Diane and her team, and look forward to supporting Hempco's
growth initiatives and capitalizing on the multiple opportunities
this partnership creates for us. In addition to the warrants
exercised, we intend exercising our option to buy founder shares,
and take our position to north of 50%.
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", and a second 40,000 square foot high-technology
production facility known as "Aurora Vie" in Pointe-Claire, Quebec on Montreal's West Island. In January 2018, Aurora's 800,000 square foot
flagship cultivation facility, Aurora Sky, located at the
Edmonton International Airport,
was licensed. Once at full capacity, Aurora Sky is expected to
produce over 100,000 kg per annum of cannabis. Aurora is
completing a facility in Lachute,
Quebec utilizing its wholly owned subsidiary Aurora Larssen
Projects Inc.
Aurora is close to completion of the acquisition of all the
outstanding shares of CanniMed Therapeutics Inc, Canada's most experienced licensed producer of
medical cannabis, adding over 20,000 kg per annum in funded
capacity, as well as Canada's
strongest medical cannabis brand.
Aurora also owns Berlin-based
Pedanios, the leading wholesale importer, exporter, and distributor
of medical cannabis in the European Union. The Company owns 51% of
Aurora Nordic, which will be constructing a 1,000,000 square foot
hybrid greenhouse in Odense,
Denmark. 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 holds a 19.88% ownership interest in Liquor Stores N.A.,
("LIQ") who are developing a cannabis retail network in
Western Canada. In addition, the
Company holds approximately 17.23% of the issued shares in leading
extraction technology company Radient Technologies Inc, and has a
strategic investment in Hempco Food and Fiber Inc., with options to
increase ownership stake to over 50%. Aurora is also the
cornerstone investor in two other licensed producers, with a 22.9%
stake in Cann Group Limited, the first Australian company licensed
to conduct research on and cultivate medical cannabis, and a 17.62%
stake in Canadian producer The Green Organic Dutchman Ltd., with
options to increase to majority ownership.
Aurora's Common Shares trade on the TSX under the symbol "ACB",
and are a constituent of the S&P/TSX Composite Index
About Hempco
For more than 12 years Hempco has been a
trusted and respected pioneer, innovator and provider of premier
hemp based foods. Hempco is committed to developing hemp foods,
hemp fiber and hemp nutraceuticals. Hempco is expanding its
processing ability to meet global demands in a 56,000 sq. ft.
facility located at Nisku,
Alberta. Hempco's common shares trade on the TSX Venture
Exchange under the symbol "HEMP".
On behalf of the Boards of
Directors,
AURORA CANNABIS INC.
Terry Booth
CEO
HEMPCO FOOD AND FIBER INC
Diane Jang
CEO
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, TSX-V, nor their Regulation Services Provider
(as that term is defined in the policies of Toronto Stock Exchange)
accept responsibility for the adequacy or accuracy of this
release.
SOURCE Hempco Food and Fiber Inc.