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Aurora Cannabis Inc
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Shares Issued 105,000,471
Close 2015-02-20 C$ 0.64
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Aurora Cannabis receives licence to produce marijuana

2015-02-20 09:03 ET - News Release

Mr. Terry Booth reports


Aurora Cannabis Inc.'s wholly owned subsidiary, Aurora Cannabis Enterprises Inc., has been granted a federal licence to produce medical marijuana under the marijuana for medical purposes regulations issued pursuant to the Controlled Drug and Substances Act of Canada.

The licence will allow Aurora to begin production of medical marijuana in its fully expandable 55,200-square-foot purpose-built facility located on 160 acres in Mountain View county, Alberta. This high-tech facility is one of the largest of its kind in Canada and is capable of growing up to 8,000 kilograms per year. Aurora has aggressive expansion plans and sees this flagship facility as an opportunity to determine optimal production strategies that will be put into place in future locations across Canada.

In addition to being one of the few organizations across Canada that has been authorized to begin the production of medical cannabis, Aurora is proud to be the first company to obtain such a licence in Alberta. Alberta offers significant cost advantages to other provinces, including the lowest tax rates and a deregulated utility system where power rates and gas rates are negotiated. The facility's total cost is approximately $10.5-million.

Being nestled in the foothills of the Rocky Mountains not only allows for a never-ending supply of clean, pure, mountain-fed water but also close proximity to Olds College. Olds College is the largest agricultural college in Alberta, and its graduates are approximately 25 per cent of agricultural diploma recipients in Canada. Specializing in agriculture, horticulture, and land and environmental management, Olds College has spearheaded projects in more than 30 countries. Aurora intends to work closely with Olds College on student development and help foster diploma-to-employment programs.

Aurora's commitment to research and development has lead to meetings with some of the world's most renowned plant scientists specializing in cannabis. This team is complemented by a top research scientist in the field of cardiology and a renowned medical doctor, who is known for his expertise in cannabis, thus providing the vital bridge between plants and patients.

The level of research planned could not be accomplished without Aurora's state-of-the-art control system that is operating in its brand-new building. Many competing licensed producers who retrofit existing buildings continue to have issues with crop failure due to powdery mildew, insect infestations and excessive microbial limits. These problems are far more common with retrofit production facilities. Every part of the design and construction was done keeping plant consistency and plant health in mind. The company looks forward to demonstrating to the medical community the benefit and value of high-quality, standardized cannabis cultivated under the aegis of science.

Terry Booth, chief executive officer, commented: "Thank you to the Aurora team for their hard work, keen skills and fantastic dedication in getting us to this point in the process. With the team we have assembled and our first facility now complete, I believe we have a very bright future in this industry. We look forward to working with Health Canada, focusing on compliance with the high-quality standards that the supply of medical cannabis requires."

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