16:18:53 EST Fri 08 Nov 2024
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Aurora Cannabis Inc (3)
Symbol ACB
Shares Issued 54,548,700
Close 2024-07-25 C$ 8.03
Market Cap C$ 438,026,061
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Aurora receives German cultivation, research licences

2024-07-25 19:23 ET - News Release

Ms. Michelle Lefler reports

AURORA RECEIVES EXPANDED CULTIVATION AND UNIQUE RESEARCH LICENSES FOR GERMAN FACILITY

Aurora Cannabis Inc. has been granted two licences by the Federal Institute for Drugs and Medical Devices (BfArM) under Germany's new Medical Cannabis Act (MedCanG). Aurora's licence grants the company continued domestic cultivation, which has been under way for two years now. Under the new licence, Aurora may also cultivate an approved additional product, and plans to expand their offerings to the rapidly growing German patient base. Aurora will also receive a dedicated R&D (research and development) licence, allowing for the trial of up to seven additional novel cultivars at the company's local EU GMP (European Union gross manufacturing practice) facility in Leuna, Germany.

"We thank the German government for its continued investment in the growth of medical cannabis, made possible by decriminalization, which will improve access to medical cannabis for patients all across Germany," says Michael Simon, president, Aurora Europe. "Being one of the few companies to receive enhanced licences is a testament to Aurora's established leadership in the region and unparalleled commitment to making available the highest-quality cannabis. We now have the framework to extend our portfolio, invest in domestic research and leverage Aurora's global cultivation expertise locally."

Aurora is committed to the growth, acceptance and broader access to medical cannabis globally. The company's leadership in Europe is a result of continuing collaboration with government, regulators and industry. Since 2021, Aurora's medical cannabis production facility, located in Leuna, Saxony-Anhalt, has been cultivating approximately 1,000 kilograms (about 2,204 pounds) of medical cannabis flower annually as part of a tender agreement with BfArM. The company has demonstrated a commitment to superior quality and product efficacy that has led to the granting of additional licences. These additional licences are a result of the company's continued focus on quality and compliance.

The company supports Germany's investment in meaningful regulatory reform, and anticipates it will have broader effect on the expanding acceptance of medical cannabis and future modern frameworks across Europe. Aurora's domestic and global expertise in developing novel, high-quality and innovative products, positions the company as a differentiated leader, poised to fulfill growing patient demand.

About Aurora Cannabis Inc.

Aurora is opening the world to cannabis, serving both the medical and consumer markets across Canada, Europe, Australia and South America. Headquartered in Edmonton, Alta., Aurora is a pioneer in global cannabis, dedicated to helping people improve their lives. The company's adult-use brand portfolio includes Aurora Drift, San Rafael '71, Daily Special, Tasty's, Being and Greybeard. Medical cannabis brands include MedReleaf, CanniMed, Aurora and Whistler Medical Marijuana Co. as well as international brands Pedanios, Bidiol, IndiMed and CraftPlant. Aurora also has a controlling interest in Bevo Farms Ltd., North America's leading supplier of propagated agricultural plants. Driven by science and innovation and with a focus on high-quality cannabis products, Aurora's brands continue to break through as industry leaders in the medical, wellness and adult recreational markets wherever they are launched.

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