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Aurora signs LOI with the Société des Alcools du Québec to Supply Cannabis for Quebec Adult Consumer Market
EDMONTON, Feb. 14, 2018 /CNW/ – Aurora Cannabis Inc. (“Aurora”) (TSX: ACB) (OTCQB: ACBFF) (Frankfurt: 21P; WKN: A1C4WM) today announced that the Company has signed a Letter of Intent (“LOI”) 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 LOI, 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.
This LOI is significant in terms of product volume, and an important step in our commercial development. It also reflects our strong commitment to the Quebec market, where we have two production facilities, as well as access to significant additional supply through our partnership with The Green Organic Dutchman, once their Valleyfield facility is completed. We are pleased to be working closely with the SAQ, and look forward to becoming a key supplier of Canada’s second most populous province with more than eight million people.
Terry Booth, CEO of Aurora
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. Aurora is also currently constructing an 800,000 square foot production facility, known as “Aurora Sky”, at the Edmonton International Airport, as well as completing a fourth facility in Lachute, Quebec utilizing its wholly owned subsidiary Aurora Larssen Projects Ltd.
Aurora also owns Berlin-based Pedanios, the leading wholesale importer, exporter, and distributor of medical cannabis in the European Union. 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.
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”.
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