Health Canada Issues a Sales License to Aurora Cannabis Inc.
November 30, 2015 (Source: Marketwired) — 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., has been granted a license from Health Canada to sell medicinal cannabis pursuant to the Marihuana for Medical Purposes Regulations (“MMPR”).
Neil Belot, Chief Brand Officer, commented, “People seeking a holistic approach to health and wellness, who believe in medical cannabis and the healing power of nature, can now choose a culture and community minded Licensed Producer which truly understands their needs.”
The sales license authorizes Aurora for the sale of medicinal cannabis to patients across the country vaulting it into a leading position within the industry. Aurora’s 55,200 square foot indoor production facility in Alberta is capable of producing over 5,400 kg of medicinal-grade cannabis per year.
Out of all the publicly traded fully licensed producers in Canada, Aurora has the second most licensed indoor production space and the largest purpose-built indoor production facility.
Aurora also has the advantage of producing at lower costs as it has access to mountain-fed fresh water table on approximately 160 acres of land, sub $0.03 per kilowatt hour electricity costs and the least expensive corporate tax rates in the country.
With a new comprehensive website set to launch in the coming days, pre-registration of patients will begin immediately and product deliveries are expected to commence in December 2015.
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Aurora anticipates the facility to be at its full production capacity by May 2016. Once in full production, Aurora has the capability of harvesting over 130 kg of medicinal cannabis every 7 to 10 days. As previously announced, micro-propagation through plant tissue culture technology will support the facility in ramping up to maximum production capacity while preserving the full genetic potential of Aurora’s production stock.
Terry Booth, CEO, commented, “I would like to thank the shareholders of Aurora for their patience and faith. I would also like to congratulate the Aurora team for their dedication and commitment to bringing this world-class facility into the marketplace. The next phase in establishing the Aurora Standard in producing and selling the highest quality cannabis now transitions into providing unparalleled customer service to all of our future patients.”
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.
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, securities commission or other regulatory authority has not reviewed, approved or disapproved the contents of this press release. We seek Safe Harbour.
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>