Aurora Cannabis Provides Operational Update
Aurora Cannabis Inc. (CSE:ACB)(FRANKFURT:21P)(OTCQB:ACBFF) (WKN:A1C4WM) (“Aurora” or the “Company”), a Licensed Producer of medical cannabis under Health Canada’s Marihuana for Medical Purposes Regulations (MMPR), is pleased to provide the following operational update:
Aurora’s patient registration has been faster than anticipated, surpassing 1,000 active registered patients less than three months after the Company’s first sale of product on January 5, 2016. This is believed to be the shortest time required to meet this milestone of any Licensed Producer in Canada. Of the approximately 15 strains currently in the Company’s product line, the top seller over the month of March, 2016 was Aurora’s “Temple” strain, which contains 24% cannabidiol (CBD). This is the highest-CBD medical cannabis available in Canada today.
The Company has accumulated approximately $6.8 million of biological assets at its 55,200 square foot production facility in Cremona, Alberta. These consist of dried cannabis in inventory and plants in flower, as well as clones and mother plants.
Get our daily investorintel update
New Rooms Approved at Production Facility
Three additional Division 3 (cannabis present) rooms have received full Health Canada approval. These include:
- A packaging room that is now scalable to handle very large client capacity, including advanced, automated filling equipment with precision weighing accuracy, combined with gentle product care.
- An additional extraction room for the production of derivative products (cannabis oils) via the Company’s GMP-compliant CO2 Supercritical Fluid Extraction unit.
Cannabis Oil Extraction Underway
Subsequent to the Company’s receipt on February 16, 2016 of a Health Canada license to produce cannabis derivatives, Aurora’s production team has begun test runs of cannabis oil extraction, in preparation for the Health Canada inspection and approval required to begin sale of derivative products, which are expected to increase net margin substantially by the end of 2016.
Advanced Analytical Laboratory
Aurora is proceeding with the establishment of an advanced analytical laboratory that supports micro-propagation, also known as Plant Tissue Culture (PTC). This technique, an alternative to the traditional method of creating clones from cuttings, produces each plant under completely sterile conditions, ensuring all batches begin in a disease-free environment. It ensures plant vigour and the integrity of future crops through continuous rejuvenation of the genetics of Aurora’s cannabis strains. It provides for massive, cost-effective scalability and improved yields. PTC methods will also allow Aurora to pursue potentially invaluable research and development. This new capability is being implemented in collaboration with renowned PTC expert Geoff White of CanGenX BioTech Inc.
“We are very pleased that our business strategy is entirely on track, with progress as anticipated, or better than anticipated, across each of our functional areas,” said Terry Booth, CEO of Aurora. “The Aurora Standard is establishing itself as uniquely effective in our science, our product quality and innovation, our customer care, and most importantly the experience of our patients.”
Aurora’s wholly-owned subsidiary, Aurora Cannabis Enterprises Inc., is a licensed producer of medical marijuana pursuant to the Marihuana for Medical Purposes Regulations and operates a 55,200 square foot, expandable, state-of-the-art production facility in Alberta, Canada. Aurora trades on the Canadian Securities Exchange under the symbol “ACB”.
On behalf of the Board of Directors,
AURORA CANNABIS INC.
Terry Booth, CEO
This news release contains statements about the Company’s expectations regarding production capacity and production yields, anticipated revenues and other aspects of its anticipated future operations that are forward-looking in nature and, as a result, are subject to certain risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, undue reliance should not be placed on them as actual results may differ materially from the forward-looking statements. Such forward-looking statements are estimates reflecting the Company’s best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such forward-looking statements. Such factors include but are not limited to the Company’s ability to obtain the necessary financing and the general impact of financial market conditions, the yield from marijuana growing operations, product demand, changes in prices of required commodities, competition, government regulations and other risks set out in the Company’s management’s discussion and analysis filed on SEDAR. The forward-looking statements contained in this news release are made as of the date hereof, and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, except as required by law.
The CSE or other regulatory authority has not reviewed, approved or disapproved the contents of this press release. We seek Safe Harbour.
InvestorIntel is a trusted source of reliable information at the forefront of emerging markets that brings investment opportunities to discerning investors.