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VANCOUVER, Jan. 23, 2017 /CNW/ – Aurora Cannabis Inc. (the “Company” or “Aurora”) (TSXV: ACB) (OTC: 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. 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.
Terry Booth, CEO
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”.
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