Accomplished Pharma CEO and Cannabis Sector Director Further Strengthens Corporate Governance
VANCOUVER, Oct. 12, 2016 /CNW/ - Aurora Cannabis Inc. (TSXV: ACB) (FRANKFURT: 21P) (WKN: A1C4WM) (OTCQB: ACBFF) (the "Company" or "Aurora" or the "Issuer") is pleased to announce the appointment of Barry Fishman to the Board of Directors.
Mr. Fishman, who will sit as an independent director, has a robust record of accomplishment as CEO of three major pharmaceutical companies, is a Certified Public Accountant (CPA), and has more than 30 years of experience in executive management, marketing and finance.
Mr. Fishman is the CEO of international specialty pharmaceutical company Merus Labs (TSX: MSL) (NASDAQ: MSLI), where he has led the company to more than tripling sales and EBITDA over the last two fiscal years. Previously, he has served as CEO of both Teva Canada and Taro Canada, and is a past Chair of the Canadian Generic Manufacturers Association. He began his pharmaceutical career at Eli Lilly, where he advanced through several cross-functional leadership roles, including Vice President of Marketing. Mr. Fishman also has critical insights into the development of the cannabis sector, having previously served on the Board of Directors of Canopy Growth Corporation and Bedrocan Cannabis Corp.
"Barry is an outstanding addition to the Board, bringing extensive marketing, finance and capital markets experience, and further enhancing our corporate governance," said Terry Booth, CEO. "His network and reputation, along with his wise judgment, will serve the Company and our shareholders well as we continue on our rapid growth trajectory, which includes expanding our production capacity, transitioning to profitable operations, and further establishing our leadership position in the Canadian cannabis industry."
"I am delighted to join Aurora, and to become part of this dynamic team that will continue to provide leadership and drive innovation in the cannabis sector," said Mr. Fishman. "This Company has been a standout in terms of its rapid growth, management and Board strength, disciplined execution of its strategic plan, and vision for the future of the industry. I look forward to playing a key role in Aurora's governance and strategic decision-making."
In connection with Mr. Fishman's appointment as a Director, the Company granted him stock options to acquire 350,000 common shares in the capital of the Company, exercisable at $2.38 per share, expiring in five years. These options will vest evenly on a quarterly basis over a period of one year.
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.
Terry Booth, CEO
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.
Neither 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.
For further information: Cam Battley, Senior VP Communications and Medical Affairs, +1.905.864.5525, [email protected], www.auroramj.com; Marc Lakmaaker, NATIONAL Equicom, +1.416.848.1397, [email protected]