VANCOUVER, British Columbia, Jan. 16, 2017 /Weed Wire/ — Aurora Cannabis Inc. (“Aurora” or the “Company”) (TSXV: ACB) (OTCQB: ACBFF) (Frankfurt: 21P; WKN: A1C4WM) is pleased to provide the following operational update.
Patient Registration Continues Rapid Pace
On December 21, 2016, Aurora surpassed 12,000 active registered patients, less than 12 months after the Company’s first product sale in January, 2016, which is believed to be the fastest rate of patient registration after commencement of commercial operations achieved by any Licensed Producer.
Recall of Product Purchased Wholesale
On January 13, 2017, Aurora initiated a voluntary recall of product purchased from another licensed producer and resold to clients. The other licensed producer had previously initiated a precautionary voluntary product recall, which affected a relatively small quantity of product resold by Aurora. The recall is not anticipated to have material financial or operational consequences for Aurora.
Aurora Sky Construction Update
Construction of the Company’s new Aurora Sky production facility at Edmonton International Airport (“EIA”) is progressing smoothly and on schedule, with grade and fill work essentially complete. More than 400 screw piles are now installed for the grade beam, and office trailers and other infrastructure have been completed at the site. The General Contractor award is will be announced shortly, with Subtrade awards following thereafter. Construction of the facility is expected to be completed on schedule as planned for the second half of 2017.
Radient Technologies Joint Venture Research Agreement
On January 4, 2017, Aurora signed a Joint Venture Research Agreement with Radient Technologies Inc. (“RTI”). The first phase of this venture will include screening experiments of extraction conditions, while phase two includes larger scale experiments related to extraction throughput and optimal extraction conditions. Aurora’s scientists and the RTI team will commence tests January 16, 2017, and the first phase is expected to be completed within approximately six weeks.
Further to the Company’s news release dated March 4, 2016, Aurora has now settled both outstanding legal proceedings and as such, is no longer involved in any further litigation.
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.
Executive Vice President