Aurora Cannabis Welcomes Historic Senate Vote to Legalize the Mature Utilization of Cannabis in Canada

Aurora Cannabis Welcomes Historical Senate Vote to Legalize the Adult Utilization of Cannabis in Canada

Aurora Cannabis Inc. (“Aurora” or the”Company”) (TSX: ACB) (OTCQB: ACBFF) (Frankfurt: 21P; WKN: A1C4WM) comments on today’s Canadian Senate’s vote in favour of Bill C-45, which governs the legalization of the adult customer use of cannabis.

“This is a monumental day for Canada and the cannabis movement, together with the revolutionary Senate vote to pass Bill C-45 representing a major milestone, strengthening our international leadership in the cannabis sector, and making this country the first in the Group of Seven Nations (G7) to take this historic step,” said Terry Booth, CEO. “We applaud the government’s smart and rational public policy, initiating wholesale legislative changes – focused on clearly defined objectives – to decrease the negative impact of prohibition, while establishing a well-regulated system intended to protect public health and public security. We must also salute and congratulate the advocates, the activists and the passionate who for decades, and often at great personal risk, spoke up, sat , appealed laws, composed new ones, conducted studies, educated, and changed perceptions towards finishing criminal prohibition.”

“We are quite delighted with today’s vote, but more important work remains, especially with respect to how our industry is allowed to operate and profile itself as a way to meet Canadian mature customer expectations,” added Mr. Booth. “Additionally, with legalization alone, the burden of prior non-violent cannabis-related convictions and charges will continue to take a significant and unacceptable negative impact on many Canadians, disproportionately affecting individuals from marginalized populations. Aurora believes the government must now urgently consider amnesty for non-violent cannabis-related offenses, and will keep on advocating on this important subject. Furthermore, we will continue our advocacy to obtain tax-exempt standing for medical cannabis in support of Canada’s patients whose quality of life has greatly improved through cannabis-based therapies. Medical cannabis currently is the only prescribed medication in Canada upon which any tax is charged, and we will continue our pursuit to correct this oversight.”

Mr. Booth concluded,”With the implementation of Bill C-45 around the corner, we will continue our high-paced execution and provide innovations, industry-leading customer attention, and rapidly growing production capacity to this significant and exciting sector. We will bring the Aurora Standard to the adult consumer market, providing a uniquely satisfying customer experience.”

About Aurora

Aurora’s wholly-owned subsidiary, Aurora Enterprises Inc., is a certified manufacturer 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” at Pointe-Claire, Quebec on Montreal’s West Island. In January 2018, Aurora’s 800,000 square foot flagship cultivation facility, Aurora Sky, situated at the Edmonton International Airport, was licensed by Health Canada. Once at full capacity, Aurora Sky is expected to produce over 100,000 pound per annum of cannabis. Aurora is finishing a centre in Lachute, Quebec utilizing its wholly owned subsidiary Aurora Larssen Projects Inc. (“ALPS”). ALPS provides comprehensive project services associated with the design, engineering, construction support, compliance requirement, genetics, commissioning and maintenance of Aurora Standard production facilities throughout the planet.

The business’s wholly-owned subsidiary CanniMed Therapeutics Inc. (“CanniMed”) is Canada’s first licensed manufacturer of medical cannabis, with over 20,000 kg per annum in funded capacity. Aurora also possesses Berlin-based Pedanios GmbH, the leading wholesale importer, exporter, and distributor of medical cannabis in the European Union. The Company owns 51% of Aurora Nordic, which will be assembling 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 to the cultivation of organic microgreens, vegetables and herbs in professional and home kitchens.

Aurora holds a 25% ownership interest in Alcanna Inc. (“CLIQ”), Western Canada’s largest private retail chain of liquor stores, who are creating a cannabis retail network in Western Canada. Moreover, the Company holds approximately 17.23% of the issued shares in leading extraction tech company Radient Technologies Inc, and holds 52.7% of Hempco Food and Fiber Inc..

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 nurture medical cannabis, and a 17.62% stake in Canadian licensed manufacturer The Green Organic Dutchman Ltd., together with options to increase majority ownership. Finally, the Company owns a 9.14% stake in CTT Pharmaceutical, an innovative product development company within the cannabis space.

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

Forward-looking statements are often characterized by words such as”plan”,”continue”,”anticipate”,”project”,”intend”,”believe”,”expect”,”estimate”,”may”,”will”,”potential”,”proposed” and other similar words, or statements that certain events or conditions”may” or”will” occur. These statements are just predictions. Various assumptions were used in drawing the conclusions or making the projections contained in the forward-looking statements during 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 may 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.

 

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View original content: http://www.newswire.ca/en/releases/archive/June2018/08/c1265.html

Released at Fri, 08 Jun 2018 11:45:14 +0000

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