VANCOUVER, Jan. 23, 2017 /CNW/ - Aurora Cannabis Inc. (the "Company" or "Aurora") (TSXV: ACB) (OTCQB: ACBFF) (Frankfurt: 21P; WKN: A1C4WM) is pleased to announce that on January 20, 2017, its wholly-owned subsidiary, Aurora Cannabis Enterprises Inc., a licensed producer and distributor of medical cannabis, was licensed by Health Canada for the sale of cannabis oils.
The Company received its cannabis oils production license in February 2016, and in anticipation of receiving its selling license, has since dedicated a portion of its production output towards the stockpiling of cannabis oils and concentrates. The granting of the license allows the company to sell oil products to registered patients under the Access to Cannabis for Medical Purposes Regulations (ACMPR).
"Obtaining our license to sell cannabis oils is another major milestone for Aurora, and we can now participate in the derivative cannabis market by further expanding our product line for patients, and offer prescribing physicians a high-quality alternative to inhaled products," said Terry Booth, CEO. "We have made key capital investments that now enable us to rapidly deploy our differentiating extraction methods that rank among the most consistent and efficient in the sector. With the combined capacity from our existing production site, as well as from our planned 800,000 square foot Aurora Sky facility now under construction at Edmonton International Airport, we believe Aurora is well positioned to become one of the largest producers and distributors of cannabis oil products, which remains a key element of our developing business strategy."
Aurora operates best-in-class pharmaceutical grade CGMP compliant supercritical CO2 fluid extraction (SFE) equipment, designed for solvent-free extraction of the active compounds of the cannabis plant, while preserving its full terpene profile. Recently, the Company signed a Memorandum of Understanding with Radient Technologies Inc. ("RTI") to evaluate an exclusive partnership for the Canadian market with regards to the joint development and commercialization of superior and standardized cannabinoid extracts. Currently the companies are exploring the technical feasibility and commercial opportunities to deploy RTI's high throughput, terpene-preserving extraction technology.
Employee Stock Option Grants
On January 19, 2017, the Company granted stock options to acquire an aggregate of 1,700,000 common shares to management and key personnel under the company's stock option plan. These options, exercisable at a price of $2.56 per share and expiring on January 19, 2022, will vest evenly on a quarterly basis over a period of two years.
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) and operates a 55,200 square foot, expandable, state-of-the-art production facility in Mountain View County, Alberta, Canada. Aurora trades on the TSX Venture Exchange under the symbol "ACB".
On behalf of the Board of Directors,
AURORA CANNABIS INC.
This news release contains certain "forward-looking statements" within the meaning of such statements under applicable securities law. 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.
The TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Aurora Cannabis Inc.