Strengthening the Technology Function to Drive Further Innovation
VANCOUVER, Oct. 30, 2017 /CNW/ - Aurora Cannabis Inc. (the "Company" or "Aurora") (TSX: ACB) (OTCQX: ACBFF) (Frankfurt: 21P; WKN: A1C4WM) today announced that the Company has appointed Darryl Vleeming as its new Chief Information Officer ("CIO").
Mr. Vleeming comes to Aurora with over 20 years of experience in Senior IT leadership, project delivery, and IT strategic planning at publicly traded international corporations, with a specific focus on driving business value. Prior to joining Aurora, Mr. Vleeming spent eight years, lastly as Vice President, IS and Chief Information Officer, at Capital Power Corporation, a $2.5 billion, TSX listed independent power producer. Among other responsibilities, Mr. Vleeming was in charge of the division running the corporation's mission critical IT systems, general IT asset management, as well as development of the corporation's strategic technology vision to drive competitive differentiation. Prior to Capital Power, Mr. Vleeming was Manager of Systems Development at EPCOR, one of Canada's top providers of energy and energy-related services and products in Alberta, Ontario, and the United States.
Mr Vleeming sits on the Board of Directors of a number of not-for-profit and charitable organizations, including Cybera, which is responsible for overseeing the development of Alberta's cyber infrastructure, and The Rainbow Society of Alberta, a registered charity dedicated to fulfilling wishes of Alberta children with chronic or life threatening illnesses. Mr. Vleeming holds an Executive MBA from the University of Athabasca, and a Computer Systems Technology Honours Diploma from the Northern Alberta Institute of Technology (NAIT).
"The newly created position of CIO reflects the degree to which leadership in technology and innovation is part of our DNA, as well as central to our global expansion strategy," said Terry Booth, CEO. "With his exceptional track record of identifying technological opportunities and executing technology-driven strategies, we believe Darryl is the right person to help us scale up Aurora's e-commerce platform, establish systems to manage the vast amount of data we generate, and ensure tight alignment across our domestic and international operations. We are very pleased to have attracted a leader of his calibre, and look forward to his contributions to driving accelerated growth."
Mr. Vleeming added, "The cannabis industry provides fantastic opportunities to leverage technology into competitive advantages, as Aurora has already proven through its successful integration of technology across functions, including its unique mobile application. I am very excited to join the leading innovator in this sector, and to help the Company expand its footprint across Canada and around the world."
Additionally, the Company issued 1,369,072 common shares, at a deemed price of $2.54 per common share and 469,044 common shares at a deemed price of $2.98 per common share to the vendors of CanvasRx Inc. ("CanvasRx") in accordance with CanvasRx achieving certain earn-out payment milestones for the period ended September 30, 2017, as set out in the share purchase agreement previously announced on August 10, 2016.
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", a second 40,000 square foot high-technology production facility known as "Aurora Vie" in Pointe-Claire, Quebec on Montreal's West Island, and is currently constructing an 800,000 square foot production facility, known as "Aurora Sky", at the Edmonton International Airport.
In addition, the Company holds approximately 9.6% of the issued shares (12.9% on a fully-diluted basis) in leading extraction technology company Radient Technologies Inc., based in Edmonton, and is in the process of completing an investment in Edmonton-based Hempco Food and Fiber for an ownership stake of up to 50.1%. Furthermore, Aurora is the cornerstone investor with a 19.9% stake in Cann Group Limited, the first Australian company licensed to conduct research on and cultivate medical cannabis. Aurora also owns Pedanios, a leading wholesale importer, exporter, and distributor of medical cannabis in the European Union, based in Germany. 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's common shares trade on the TSX under the symbol "ACB".
On behalf of the Board of Directors,
AURORA CANNABIS INC.
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.
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SOURCE Aurora Cannabis Inc.