Aurora Cannabis Receives Competition Bureau Clearance for MedReleaf Acquisition

The Arrangement remains subject to customary closing conditions, including approval by each of Aurora shareholders and MedReleaf shareholders at shareholder meetings scheduled to be held on July 18, 2018, and final court approval. Subject to satisfaction of those closing conditions, the Transaction is expected to close later in July, 2018.

The Arrangement was unanimously recommended by the Aurora board of directors and the MedReleaf board of directors. Certain directors and officers of Aurora and MedReleaf also have entered into support agreements pursuant to which they have agreed to vote their shares in favour of the Arrangement. Additionally, holders of approximately 56 percent of MedReleaf’s issued and outstanding common shares have entered into irrevocable hard lock-ups to vote their shares in favour of the Arrangement.

About Aurora

Headquartered in Edmonton, Alberta, with funded capacity in excess of 430,000 kg annually and operations across Canada and in Europe, Aurora is one of the world’s biggest cannabis companies. Aurora is vertically integrated and horizontally diversified across every key sector of the value chain, from facility design and engineering, to cannabis breeding and genetics research, cannabis and hemp production, extraction and high value-add product development, home cultivation and wholesale and retail distribution.

Highly differentiated from its peers, Aurora has established a uniquely innovative, consistent and efficient manufacturing approach, based on purpose-built centers which incorporate leading-edge technologies across all processes. Intended to be replicable and scalable globally, these manufacturing facilities are designed to make cannabis on a gigantic scale, with high flower quality, industry-leading yields, and ultra-low per g manufacturing costs. Each of Aurora’s facilities is constructed to meet European Union (EU) GMP standards, and its first manufacturing facility and its wholly owned European medical cannabis distributor Pedanios have attained that level of certification.

Along with its rapid organic growth and strategic M&A, which thus far includes nine companies acquired, Aurora is distinguished by its reputation as a partner of choice in the cannabis industry, having invested in and established strategic partnerships with a wide selection of leading innovators, such as: The Green Organic Dutchman Holdings Ltd. (TSX: TGOD), Radient Technologies Inc. (TSXV: RTI), Hempco Food and Fiber Inc. (TSXV: HEMP), Cann Group Ltd. (ASX: CAN), Micron Waste Technologies Inc. (CSE: MWM), Choom Holdings Inc. (CSE: CHOO), Namaste Technologies Inc. (TSXV: N), and Alcanna Inc. (TSX: CLIQ).

Aurora’s Common Shares trade on the TSX under the symbol”ACB”, and are a part of the S&P/TSX Composite Index.

To find out more about Aurora, please visit our investor website https://investor.auroramj.com.

Canada’s most awarded licensed producer, MedReleaf is an R&D-driven company dedicated to innovation, operational excellence and the creation of industry leading, top-quality cannabis. Sourced from around the world and carefully cultivated in one of two advanced ICH-GMP and ISO 9001 certified facilities in Ontario, with a third facility currently in development, a complete range of premium MedReleaf products are delivered to the global medical industry. We serve the therapeutic needs of individuals seeking secure, consistent and effective medical cannabis and provide a compelling product offering for the adult-use recreational industry.

SOURCE

Released at Fri, 06 Jul 2018 16:12:30 +0000

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