Aurora Receives License to Extract Cannabis Oils
February 17, 2016 (Source) — Aurora Cannabis Inc. (“Aurora” or the “Company”) (CSE:ACB)(OTCQB:ACBFF)(FRANKFURT:21P) (WKN:A1C4WM) is pleased to announce that its wholly-owned subsidiary, Aurora Cannabis Enterprises Inc., a licensed producer and distributor of medicinal cannabis pursuant to the Marihuana for Medical Purposes Regulations (“MMPR”), received approval from Health Canada on February 16, 2016, to produce derivative cannabis products through a Section 56 exemption to the Controlled Drugs and Substances Act (“CDSA”).
Aurora’s pharmaceutical grade CGMP compliant super critical CO2 fluid extraction (SFE) equipment was acquired last summer in anticipation of receiving Health Canada’s Section 56 approvals. The best-in-class equipment is designed for solvent-free extraction of the active compounds of the cannabis plant while preserving its full terpenoid profile, all of which have generally accepted therapeutic benefits.
Aurora is confident that there will be tremendous demand for these new products, which are conservatively forecasted to contribute 30% additional revenues and improve the Company’s profit margins. Aurora’s facility, with 55,200 square feet of expandable licensed production space, is expected to be running at full capacity by spring 2016, has a demonstrated capability of producing over 8,000 kg of dried cannabis annually.
Neil Belot, Chief Brand Officer, comments, “Different methods of administration offer different medical benefits. For patients who are managing certain conditions and symptoms these products can be more appropriate than dried flower. Aurora’s new product line will offer clients more treatment options allowing them to choice from various forms of cannabis for medical purposes.”
The Company recently launched its revamped website at www.AuroraMJ.com and has registered over 500 patients since January 4th, 2016. All of Aurora’s dried cannabis products are priced at $8 per gram, and a $5 per gram compassionate pricing standard.
Aurora CEO, Terry Booth, says, “We are thrilled to reach this major milestone. Our extract-based products produced under the Aurora Standard will raise the bar for the industry and provide patients across the country with reliable, consistent, contaminant free, cannabis derivative products.”
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The Company intends on rolling out a suite of medical cannabis extract-based derivative products unlike any other currently available through the MMPR today.
Terry Booth added, “Aurora is more confident than ever that profitability will be reached in the shortest time frame of any publicly traded Licensed Producer in the MMPR industry to date.”
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., is 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 production capacity, production yields 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.
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