Aurora Provides Corporate Update
September 8, 2015 (Source: Marketwired) — Aurora Cannabis Inc. (CSE:ACB)(FRANKFURT:21P)(WKN:A1C4WM)(OTCQB:ACBFF) (the “Company”) is pleased to provide the following corporate update:
Aurora Cannabis Enterprises Inc. (“Aurora”), a wholly-owned subsidiary of Aurora Cannabis Inc., is presently awaiting its sales license. Health Canada has been to the facility four (4) times since being granted the license to produce. Each visit resulted in zero citations being issued. There are absolutely no reasons Aurora knows of that would result in the delay of the issuance of this license. We have confirmed our readiness to Health Canada and are eagerly awaiting the issuance of the sales license. Furthermore, Aurora submitted an application to Health Canada for the license to extract and produce cannabis derivatives. In anticipation of this license, Aurora has completed the construction of two rooms dedicated to high quality, pharmaceutical-grade cannabis extractions and has purchased the equipment needed for this. Aurora anticipates the extraction license to be issued in the near term. Additionally, Aurora has laid the groundwork for implementing two revolutionary, safe delivery mechanisms for extracted cannabinoids and terpenes that prescribing physicians and patients will both appreciate. Finally, Aurora’s Chief Scientist, Dr. Trevor MacMillan, has just completed genetic analysis on hundreds of plants in Aurora’s state-of-the-art laboratory, which is the first part of a lengthy qualification process to select the finest genetics possible from our extensive potential curated inventory. The qualification plants are already in flower along with another full production bay’s worth of the highest-grade medicine.
On June 28, 2015, Aurora received order of the best-in-class pharmaceutical grade, good manufacturing practice (“GMP”) compliant CO2 Super/subcritical Fluid Extraction unit. It has been assembled, pre-commissioned and is ready to be utilized upon receipt of approval of the license. This world-class extraction equipment is the product of considerable research performed by our scientific advisory team, fulfilling both Aurora’s stringent safety requirements and per-batch output volume requirements. Once licensed and operational, Aurora can provide safe, pure, contaminant-free, high quality cannabis derivatives to its customers.
On July 20, 2015, Aurora submitted an application to Health Canada for the license to produce and sell fresh marijuana and cannabis oils. Adding derivatives to our business allows Aurora to provide a wider range of options to our patients. Extracts offer MMPR participants an entirely new means of using cannabis containing products, extending the range of potential medical effects while being the first, important step in establishing dose-related pharmacokinetic studies. Measured to the milligram, derivatives provide a model of inventory control and accountability (due to highly accurate per-patient consumption models), which have significant impact on patient health as well as the Company’s bottom line as either value-added products and/or a primary profit center.
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On August 1, 2015, Aurora moved into its new offices in Vancouver, B.C. This head office will serve as a patient advisory call centre as well as our corporate offices. David Frampton joined the Company on August 7, 2015, as our National Sales Manager.
On September 4, 2015, Aurora’s Facility Director, Joel Fuzat, provided the following facility update: “I am pleased to provided key updates to our evolution as a Health Canada Licensed Producer. Aurora completed another successful audit with the Office of Controlled Substances (“OCS”) inspectors on August 11, 2015. As usual, no major observations were noted during the audit and we continue to enjoy excellent relations with the OCS. Secondly, we have completed the construction of two rooms dedicated to high quality, GMP-specific cannabis extractions and we anticipate our initial extraction license at any time.”
On September 4, 2015, Aurora entered into an agreement with Shaxon Enterprises Ltd. (“Shaxon”) of Burlington, Ontario. Shaxon will be advising and supporting the Company’s business development plans going forward. Don Shaxon, CEO, stated, “We are very proud and excited to be working with Aurora Cannabis Inc. The quality of their team, facility and product lead us to believe that Aurora will soon be recognized as a leader in the industry, supplying the highest quality cannabis to Canadian patients.”
Australis Holdings, LLP, a 50% owned subsidiary of the Company continues with the engineering and design on the Bellingham project.
The Company’s first annual general meeting is being held in Edmonton on September 8, 2015. We look forward to meeting with a number of shareholders who have confirmed their attendance.
About Aurora Cannabis Inc.
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’s wholly-owned subsidiary, Australis Capital Inc., seeks to be an active participant in the U.S. Cannabis market. Aurora is trading on the Canadian Securities Exchange under the trading 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 anticipated license approval, production yields, product demand and Aurora’s ability to meet that demand, expansion and development plans 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 raise sufficient capital and the general impact of financial market conditions, the yield from marijuana growing operations, product demand, changes in prices of required commodities, market and customer interest of the Company’s products and services, competition, government regulations, litigation; legislation; environmental, judicial, regulatory, political and competitive developments in areas in which the Company operate 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.
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release. We seek Safe Harbor.
Raj Shah has professional experience working for over a half a dozen years at financial firms such as Merrill Lynch and First Allied Securities Inc., ... <Read more about Raj Shah>