Public Appeal Process Completed – Facility Construction to Begin in May 2019
TSX | NYSE: ACB
EDMONTON, April 18, 2019 /CNW/ - Aurora Cannabis Inc. ("Aurora" or the "Company") (TSX: ACB) (NYSE: ACB) (Frankfurt: 21P; WKN: A1C4WM) confirmed today that, further to its press release dated April 5, 2019, the public appeal process related to the German cannabis production tender has been completed, and Aurora's contract with the German Federal Institute for Drugs and Medical Devices (Bundesinstitut für Arzneimittel und Medizinprodukte BfArM) has now been finalized.
The approval will allow Aurora to begin construction of a new, state-of-the art, indoor cannabis production facility in Leuna, Germany in May 2019 and the Company anticipates completion within 12 months of ground breaking. Initial shipments of locally grown cannabis are expected to become available to German medical patients starting in October 2020, with the new facility producing a minimum of 4,000 kg over a four-year period, to be expanded over time as regulations permit.
"We are thrilled with the positive outcome of the tender process, and excited to start construction on our latest production facility," said Neil Belot, Chief Global Business Development Officer. "We are very proud of the work done by our European team. In addition to providing German medical patients with a local supply of high-quality, medical grade cannabis, this new facility will also bring additional new jobs to the German labour market. It's a strong validation of our production and distribution standards to have been recognized as having the highest-rated overall concept out of 79 tender applications, and we look forward to continuing to increase availability of medical cannabis in this important market."
"Our successful proposal was focused on implementing the Aurora standard, pharmaceutical grade, cultivation techniques, while leveraging the broad competences of our team of architects, engineers, pharmacists, plant specialists and project management professionals," said Dr. Axel Gille, Managing Director of Aurora Europe. "Construction of this new facility in Leuna is the next logical step in expanding our Europe-wide production network to ensure medical patients have safe access to consistent, high-quality medicinal cannabis flowers and full extracts."
Headquartered in Edmonton, Alberta, Canada with funded capacity in excess of 625,000 kg per annum and sales and operations in 24 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 low cost. Intended to be replicable and scalable globally, our production facilities are designed to produce cannabis of significant scale, with high quality, industry-leading yields, and 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 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 wholly owned subsidiary companies – MedReleaf, CanvasRX, Peloton Pharmaceutical, Aurora Deutschland, H2 Biopharma, Urban Cultivator, BC Northern Lights, Larssen Greenhouses, CanniMed Therapeutics, Anandia Labs, HotHouse Consulting, MED Colombia, Agropro, Borela, and 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), Alcanna Inc. (TSX: CLIQ) and High Tide Inc. (CSE:HITI).
Aurora's Common Shares trade on the TSX and NYSE 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
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Terry Booth, CEO Aurora Cannabis Inc.
This news release includes statements containing certain "forward-looking information" within the meaning of applicable securities law ("forward-looking statements"), including, but not limited to, statements with respect to the performance of the Company. 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 statements regarding the construction and completion of the Company's production facility in Germany, and the production capacity of the facility. 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.
Aurora Cannabis Inc is a Canada-based company engaged in the production and distribution of medical cannabis. The Company is vertically integrated and horizontally diversified across every key segment of the value chain, from facility engineering and design to cannabis...