Aurora Cannabis Completes Agreement with the Société des Alcools du Québec to Supply Cannabis for Quebec Adult Consumer Market
EDMONTON, April 11, 2018 /CNW/ – Further to its news release of February 14, 2018, Aurora Cannabis Inc. (“Aurora”) (TSX: ACB) (OTCQB: ACBFF) (Frankfurt: 21P; WKN: A1C4WM) today announced that the Company has completed a final agreement with the Société des Alcools du Québec (“SAQ”) to supply a minimum of 5,000 kg of cannabis per annum for the Quebec adult consumer market, once legalized.
Under the terms of the agreement, Aurora will supply the Quebec market, on a monthly basis, with a wide variety of premium product from its facilities in Quebec, and elsewhere if demand requires. Supply quantities will be determined based on demand on a month by month basis, with a minimum of 5,000 for the first year, but no set maximum. The initial term of the contract is to August 31, 2021.
This agreement reflects our commitment to service the Quebec market with our range of high-quality products, once adult consumer sales will be legalized. With two facilities, as well as a supply agreement with the Green Organic Dutchman, we have a strong local presence, which we believe will contribute to increased visibility in this important market. We look forward to establishing the Aurora Standard as the benchmark for quality and customer service in Canada’s second most populous province.
Terry Booth, CEO.
The agreement is conditional on the adoption by the federal and provincial governments of the necessary regulatory framework.
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”). The Company operates a 55,200 square foot, state-of-the-art production facility in Mountain View County, Alberta, known as “Aurora Mountain”, and a second 40,000 square foot high-technology production facility known as “Aurora Vie” in Pointe-Claire, Quebec on Montreal’s West Island. In January 2018, Aurora’s 800,000 square foot flagship cultivation facility, Aurora Sky, located at the Edmonton International Airport, was licensed. Once at full capacity, Aurora Sky is expected to produce over 100,000 kg per annum of cannabis. Aurora is completing a fourth facility in Lachute, Quebec utilizing its wholly owned subsidiary Aurora Larssen Projects Inc.
Aurora is close to completion of the acquisition of all the outstanding shares of CanniMed Therapeutics Inc, Canada’s most experienced licensed producer of medical cannabis, adding over 20,000 kg per annum in funded capacity, as well as Canada’s strongest medical cannabis brand.
Aurora also owns Berlin-based Pedanios, the leading wholesale importer, exporter, and distributor of medical cannabis in the European Union. The Company owns 51% of Aurora Nordic, which will be constructing a 1,000,000 square foot hybrid greenhouse in Odense, Denmark. The Company offers further differentiation through its acquisition of BC Northern Lights Ltd. and Urban Cultivator Inc., industry leaders, respectively, in the production and sale of proprietary systems for the safe, efficient and high-yield indoor cultivation of cannabis, and in state-of-the-art indoor gardening appliances for the cultivation of organic microgreens, vegetables and herbs in home and professional kitchens.
Aurora holds a 19.88% ownership interest in Liquor Stores N.A., who intend to develop a cannabis retail network in Western Canada. In addition, the Company holds approximately 17.23% of the issued shares in leading extraction technology company Radient Technologies Inc., and has a strategic investment in Hempco Food and Fiber Inc., with options to increase ownership stake to over 50%. Aurora is also the cornerstone investor in two other licensed producers, with a 22.9% stake in Cann Group Limited, the first Australian company licensed to conduct research on and cultivate medical cannabis, and a 17.62% stake in Canadian producer The Green Organic Dutchman Ltd., with options to increase to majority ownership.
Aurora’s Common Shares trade on the TSX under the symbol “ACB”.