VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb. 20, 2015) - Aurora Cannabis Inc. (CSE:ACB)(FRANKFURT:21P)(WKN:A1C4WM)(OTC:PSNTF) is pleased to announce that its wholly-owned subsidiary, Aurora Cannabis Enterprises Inc. ("Aurora"), has been granted a federal license to produce medical marijuana under the Marihuana for Medical Purposes Regulations (MMPR) issued pursuant to the Controlled Drug and Substances Act of Canada.
The license 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 8,000kg 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 license 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 percent 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 who specialize in cannabis. This team is complemented by a top Research Scientist in the field of cardiology and a renowned Medical Doctor who is well 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. We look forward to demonstrating to the medical community the benefit and value of high quality, standardized cannabis cultivated under the aegis of science.
Terry Booth, CEO, 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."
On behalf of the Board of Directors,
AURORA CANNABIS INC.
Terry Booth, CEO
Caution Regarding Forward-Looking Information:
Certain statements in this press release constitute "forward looking" statements within the meaning of applicable Canadian securities legislation, which involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward looking statements. When used in this press release, such statements may use such words as "may," "will," "expect," "believe," "plan", "intend to" and other similar terminology. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. These statements include, but are not limited to, Aurora's plans for expansion, production costs advantages and anticipated production yields. These statements reflect management's current expectations regarding future events and operating performance and speak only as of the date of this press release. The forward looking statements involve a number of risks and uncertainties. These risks and uncertainties include, but are not limited to, Aurora's ability to obtain any necessary financing, the economy in general, the potential yield from Aurora's growing operations, consumer interest in products, competition, regulation and anticipated and unanticipated costs and delays. Although Aurora has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Readers should not place undue reliance on forward-looking statements. The factors identified above are not intended to represent a complete list of the factors that could affect the Company. The forward-looking statements included in this news release are made as of the date of this news release and the Company undertakes no obligation to update publicly or revise any forward looking information, whether a result of new information, future results or otherwise, except as required by law.
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