Mr. Terry Booth reports
OPERATIONAL UPDATE: AURORA CANNABIS SURPASSES 16,000 REGISTERED PATIENTS; LAUNCH OF CANNABIS OILS DRIVES RECORD MONTHLY REVENUE
Aurora Cannabis Inc. has provided the following operational update:
Patient registration accelerates
As of June 29, 2017, Aurora has surpassed 16,000 active registered patients less than 18 months after the company's first product sale in January, 2016. Registration accelerated in the months of May and June, 2017, adding approximately 3,000 patients during that period.
Cannabis oils drive record revenue
The company achieved a new monthly record in May, 2017, with gross revenue of more than $2.4-million, representing a 38-per-cent increase in revenue compared with January, 2017. May reflects the first full month in which sales of the company's Aurora Drops line of ingestible cannabis oils, launched in April, 2017, supplemented sales of dried cannabis. Revenue from the company's recent acquisition of Pedanios GmbH will be consolidated into Aurora's financial results beginning June 1, 2017.
Two-year licence renewal and vault upgrade
Health Canada has granted Aurora a two-year renewal of its licence to produce and sell dried cannabis and cannabis oils at the company's production facility in Mountain View county, Alberta.
The company has appointed Dr. Debra Wilson as vice-president, human resources. Dr. Wilson has more than 20 years of experience in human resources management and administration, and has served in senior HR roles for Alberta organizations including Universal Rail Systems Inc., Alberta Pension Services and Afexa Life Sciences. She is also an instructor for courses in human resource management, organizational behaviour and applied research methods at the Northern Alberta Institute of Technology (NAIT). Dr. Wilson received her PhD in psychology from Capella University in Minnesota, and her MBA from Royal Roads University in Victoria, B.C. She will be a member of Aurora's executive team and an officer of the company.
Aurora Sky construction update
Construction of the company's new 800,000-square-foot Aurora Sky production facility at Edmonton International Airport (EIA) is progressing rapidly, with more than 200,000 square feet of steel frame erected, with glass installed and foundation for the rest of the structure under way.
On June 16, 2017, Aurora held an official groundbreaking at Aurora Sky, with participation by the mayors of Leduc county, the city of Leduc, and the Alberta Minister of Municipal Affairs, amid broad media coverage of the economic development benefits generated by the project, valued at more than $100-million. The construction of Aurora Sky, which is fully capitalized given the company's current cash position, is slated to be fully completed in the first half of 2018, with part of the facility commencing production in 2017.
Development Pointe-Claire, Que., production facility
Development has begun of Aurora's production facility on the island of Montreal, to bring the facility's production technology in line with the Aurora Standard. The former Peloton Pharmaceuticals site, which will shortly be officially renamed, will feature selected new technologies to be employed at Aurora Sky. Production at the Pointe-Claire facility is expected to begin toward the end of 2017.
Dried cannabis price increase
In May, 2017, Aurora increased prices for its dried cannabis strains from $8 to $9 per gram (from $5 to $6 per gram for low-income patients). The price increase is consistent with the premium quality of the company's dried cannabis products, and value-added services such as same-day courier service in eligible areas and an industry-leading mobile application. Including the price increase, Aurora continues to offer what the company believes to be the most compassionate pricing program in Canada for low-income patients.
CanvasRx continues rapid growth
Aurora's CanvasRx subsidiary, the largest cannabis counselling and patient outreach network in Canada, continues to grow rapidly, now present in 24 clinics across Canada. CanvasRx has now helped more than 25,000 Canadian patients access medical cannabis, and has assisted more than 6,800 patients in registering with Aurora.
About Aurora Cannabis Inc.
Aurora's wholly owned subsidiary, Aurora Cannabis Enterprises Inc., is a licensed producer 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, and is currently constructing a second 800,000-square-foot production facility, known as Aurora Sky, at the Edmonton International Airport, and has acquired, and is undertaking completion of, a third 40,000-square-foot production facility in Pointe-Claire, Que., on Montreal's West Island. Aurora also recently acquired Pedanios GmbH, a leading wholesale importer, exporter and distributor of medical cannabis in the European Union, based in Berlin, Germany.
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