Positions Company to Capture Leadership in High-Growth Medical and Wellness Markets
EDMONTON, Oct. 16, 2018 /CNW/ - Aurora Cannabis Inc. ("Aurora" or the "Company") (TSX: ACB) (OTCQX: ACBFF) (Frankfurt: 21P; WKN: A1C4WM) today announced it has received the necessary compliance verification from Health Canada to release for sale its innovative, high-potency, vape-ready CBD oil product line. Launched today under the brand Aurora Cloud, the first products released contain over 550mg of CBD and less than 30mg of THC, making them the only vape-ready CBD products legally available in Canada. This is the first of a broader line of full-spectrum cannabinoid-based, vape ready cartridge products the Company intends to launch in the future.
As the only licenced producer to have successfully navigated the technical and regulatory challenges required to bring this product to market, Aurora will initially focus on distribution to medical patients. It is anticipated that Aurora Cloud products will soon be available to the wellness segment of the adult use market. Being produced at Aurora Mountain, one of the Company's two EU GMP certified production facilities, Aurora also intends to introduce Aurora Cloud products to international markets where these products are or will be permissible.
"Being the first LP to launch a vape-ready CBD-rich product for the rapidly growing medical and wellness markets reflects our continued leadership in developing and rapidly commercializing product innovations, providing us with an important competitive advantage," said Terry Booth, CEO. "We identified a significant unmet market need, and our technical and regulatory teams rapidly executed on this opportunity. We are very proud of this accomplishment by our teams, and will continue to leverage our leadership in executing on our strategy to develop a robust portfolio of high value-add, higher-margin products for all markets and jurisdictions that we participate in."
Dr. Shane Morris, Vice President of Product Development and Regulatory Affairs, added, "Product innovation and the ability to successfully navigate the regulatory landscape are core capabilities required for competitive differentiation and future success in the rapidly evolving cannabis markets. Aurora Cloud was developed with the domestic and global medical/wellness markets in mind, and we are intent on rapidly introducing these products to other jurisdictions."
Aurora Cloud was developed in response to very significant and unmet demand in the legal medical cannabis market to provide more flexibility in how cannabis can be consumed. Production of Aurora Cloud is based on proprietary extraction and processing techniques, delivering a vape-ready cartridge that can be used with a generic 510 threaded vape battery pack, one of the most commonly used and versatile formats available on the market today.
The first batch of Aurora Cloud cannabis oil cartridges are made with non-gamma irradiated award-winning CBD flowers, and will initially be sold in one-gram units, priced at $75 per unit ($52.50 per unit for compassionate pricing patients). Like all Aurora products, Aurora Cloud cartridges come with publicly available, independent laboratory analysis reports on cannabinoid potency, terpene profile, and pesticide and contaminant screening.
Headquartered in Edmonton, Alberta, Canada with funded capacity in excess of 500,000 kg per annum and sales and operations in 18 countries across five continents, Aurora is one of the world's largest and leading cannabis companies. Aurora is vertically integrated and horizontally diversified across every key segment of the value chain, from facility engineering and design to cannabis breeding and genetics research, cannabis and hemp production, derivatives, high value-add product development, home cultivation, wholesale and retail distribution.
Highly differentiated from its peers, Aurora has established a uniquely advanced, consistent and efficient production strategy, based on purpose-built facilities that integrate leading-edge technologies across all processes, defined by extensive automation and customization, resulting in the massive scale production of high quality product at ultra-low costs. Intended to be replicable and scalable globally, these production facilities are designed to produce cannabis of significant scale, with high quality, industry-leading yields, and ultra-low per gram production costs. Each of Aurora's facilities is built to meet EU GMP standards, and its first production facility, the recently acquired MedReleaf Markham facility, and its wholly owned European medical cannabis distributor Aurora Deutschland (formerly Pedanios), have achieved this level of certification.
In addition to the Company's rapid organic growth and strong execution on strategic M&A, which to date includes 15 companies – MedReleaf, CanvasRX, Peloton Pharmaceutical, Aurora Deutschland, H2 Biopharma, Urban Cultivator, BC Northern Lights, Larssen Greenhouses, CanniMed Therapeutics, Anandia Labs, HotHouse Consulting, and MED Colombia, Agropro, Borela, and the pending acquisition of ICC Labs – Aurora is distinguished by its reputation as a partner and employer of choice in the global cannabis sector, having invested in and established strategic partnerships with a range of leading innovators, including: Radient Technologies Inc. (TSXV: RTI), Hempco Food and Fiber Inc. (TSXV: HEMP), Cann Group Ltd. (ASX: CAN), Micron Waste Technologies Inc. (CSE: MWM), Choom Holdings Inc. (CSE: CHOO), Capcium Inc. (private), Evio Beauty Group (private), Wagner Dimas (private), CTT Pharmaceuticals (OTCC: CTTH), and Alcanna Inc. (TSX: CLIQ).
Aurora's Common Shares trade on the TSX under the symbol "ACB", and are a constituent of the S&P/TSX Composite Index.
For more information about Aurora, please visit our investor website: investor.auroramj.com
Terry Booth, CEO
Aurora Cannabis Inc.
Forward looking statements
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 and include, but are not limited to the variety of cannabis products that Aurora will supply to the adult use medical and wellness markets. 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.
Neither TSX nor its Regulation Services Provider (as that term is defined in the policies of Toronto Stock Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Aurora Cannabis Inc.
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