Aurora Receives First Approval for Medicinal Cannabis Product in Ireland – Canada NewsWire

Aurora Receives First Approval for Medicinal Cannabis Product in Ireland - Canada NewsWire
Aurora Cannabis Achieves Highest Cannabis Corporate Boards Ranking in 2019 Globe & Mail Board Games Report
EDMONTON, Dec. 2, 2019 /CNW/ – Aurora Cannabis Inc. (the "Company" or "Aurora") (NYSE │ TSX: ACB), the Canadian company defining the future of cannabis worldwide, today announced that one of the Companys oil products has now been approved for use under Irelands new Medical Cannabis Access Programme (MCAP). Auroras High CBD Oil Drops received approval from the Irish authorities and have now been added to a regulatory schedule by the Irish Minister of Health enabling importation, prescribing and supply under the scheme and is to date, one of only two products to gain such authorization.

Dr Shane Morris, Chief Product Officer at Aurora said, "Aurora is pleased to be able to assist patients who are seeking treatment with high quality EU-GMP (good manufacturing practice) certified pharmaceutical-grade medical cannabis in Ireland.   We are very proud to be one of the first approved suppliers of medical cannabis under the MCAP.  We want to acknowledge the efforts made by many people, especially the patients and doctors who have campaigned for access to these medicines.  We look forward to more of Auroras high-quality medicines being approved, so that more patients can benefit from the MCAP in Ireland.  We will continue to work closely with all parties and state agencies to facilitate further availability."

It also should be noted that Aurora is not just in the recreational cannabis space. The company actually has a diverse platform, which should help it deal better with market conditions. For example, Aurora has been able to build a strong medical business, with more than 40 researchers who have conducted a long list of clinical trials and case studies. The company currently serves about 84,000 patients and has a global platform that which reaches about 25 countries.

Under the new programme, a consultant can prescribe medical cannabis for patients under their care who have any of the following medical conditions:

The Medical Cannabis Access Programme was signed into law in June 2019 by Irelands Minister for Health, Simon Harris. The programme will facilitate access to cannabis-based medical products in line with legislation and is scheduled to run for 5 years.

True, this is not to ignore the nagging problems. And yes, they are considerable. The legalization of cannabis in the Canadian market has not lived up to the lofty expectations (again, this is a parallel to the dot-com glory days). Keep in mind that governmental authorities have been agonizingly slow, especially with licensing of retail outlets. To make up for this, black market activities have become a major factor.

Headquartered in Edmonton, Alberta, Canada with funded capacity in excess of 625,000 kg per annum and sales and operations in 25 countries across five continents, Aurora is one of the worlds largest and leading cannabis companies. Aurora is vertically integrated and horizontally diversified across every key segment of the value chain, from facility engineering and design to cannabis breeding and genetics research, cannabis and hemp production, derivatives, high value-add product development, home cultivation, wholesale and retail distribution.

Highly differentiated from its peers, Aurora has established a uniquely advanced, consistent and efficient production strategy, based on purpose-built facilities that integrate leading-edge technologies across all processes, defined by extensive automation and customization, resulting in the massive scale production of high-quality consistent product. Designed to be replicable and scalable globally, our production facilities are designed to produce cannabis at significant scale, with high quality, industry-leading yields, and low-per gram production costs. Each of Auroras facilities is built to meet European Union Good Manufacturing Practices ("EU GMP") standards. Certification has been granted to Auroras first production facility in Mountain View County, the MedReleaf Markham facility, and its wholly owned European medical cannabis distributor Aurora Deutschland. All Aurora facilities are designed and built to the EU GMP standard.

I think he is spot-on. Taking the long view of things is the way to approach companies like Aurora. This means there will continue to be lots of stomach-churning volatility. But we are still in the early days with cannabis – and more importantly, Aurora is positioned to be a winner.

In addition to the Companys rapid organic growth and strong execution on strategic M&A, which to date includes 17 wholly owned subsidiary companies – MedReleaf, CanvasRX, Peloton Pharmaceutical, Aurora Deutschland, H2 Biopharma, BC Northern Lights, Larssen Greenhouses, CanniMed Therapeutics, Anandia, HotHouse Consulting, MED Colombia, Agropro, Borela, ICC Labs, Whistler, Chemi Pharmaceutical, and Hempco – Aurora is distinguished by its reputation as a partner and employer of choice in the global cannabis sector, having invested in and established strategic partnerships with a range of leading innovators, including: Radient Technologies Inc. (TSXV: RTI), Cann Group Ltd. (ASX: CAN), Micron Waste Technologies Inc. (CSE: MWM), Choom Holdings Inc. (CSE: CHOO), CTT Pharmaceuticals (OTCC: CTTH), Alcanna Inc. (TSX: CLIQ), High Tide Inc. (CSE: HITI), EnWave Corporation (TSXV: ENW), Capcium Inc. (private), Evio Beauty Group (private), and Wagner Dimas (private).

As for Aurora Cannabis in particular, the company has had some of its own self-inflicted wounds. Let’s face it: management has been too aggressive with its spending. It also looks like it has missed opportunities to strike strategic financings.

Auroras Common Shares trade on the TSX and NYSE under the symbol "ACB", and is a constituent of the S&P/TSX Composite Index.

This news release includes statements containing certain "forward-looking information" within the meaning of applicable securities law ("forward-looking statements"). Forward-looking statements are frequently characterized by words such as "plan", "continue", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. These forward-looking statements are only predictions.  Various assumptions were used in drawing the conclusions or making the projections contained in the forward-looking statements throughout this news release. Forward-looking statements are based on the opinions, estimates and assumptions of management in light of managements experience and perception of historical trends, current conditions and expected developments at the date the statements are made, such as current and future market conditions, the current and future regulatory environment and future approvals and permits. Forward-looking statements are subject to a variety of risks, uncertainties and other factors that management believes to be relevant and reasonable in the circumstances could cause actual events, results, level of activity, performance, prospects, opportunities or achievements to differ materially from those projected in the forward-looking statements, including general business and economic conditions, changes in laws and regulations, product demand, changes in prices of required commodities, competition and other risks, uncertainties and factors set out under the heading "Risk Factors" in the Companys annual information form dated September 10, 2019 (the "AIF") and filed with Canadian securities regulators available on the Companys issuer profile on SEDAR at www.sedar.com. The Company cautions that the list of risks, uncertainties and other factors described in the AIF is not exhaustive and other factors could also adversely affect its results. Readers are urged to consider the risks, uncertainties and assumptions carefully in evaluating the forward-looking statements and are cautioned not to place undue reliance on such information. 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 securities laws.

Tom Taulli is the author of the book, Artificial Intelligence Basics: A Non-Technical Introduction. Follow him on Twitter at @ttaulli. As of this writing, he did not hold a position in any of the aforementioned securities.

For further information: For Media: Laura Gallant, +1.437.992.8429, [email protected]; For Investors: Rob Kelly, +1.647.331.7228, [email protected]

Even with the challenges in the Canadian market, it is still a nice source of growth. In the latest quarter, revenues for Aurora spiked by nearly 140% to $22.4 million. The company also has a decent amount of cash in the bank at $316 million.

EDMONTON, Dec. 2, 2019 /PRNewswire/ – Aurora Cannabis Inc. (the "Company" or "Aurora") (NYSE │ TSX: ACB), the Canadian company defining the future of cannabis worldwide, is pleased to acknowledge the Companys ranking in the 2019 annual Report on Business ("ROB") review of Corporate Boards, known as Board Games.  Published in its 18th year, the ROB Board Games considers dozens of governance criteria, extending beyond those required by formal regulations. Aurora achieved a score of 67 (out of a total score of 100), representing a significant increase over the prior year, a substantially higher ranking than others in its peer group of companies.

Of course, with the dot-coms, there were some huge opportunities as seen with Amazon (NASDAQ:AMZN) and Booking Holdings (NASDAQ:BKNG), formerly known as Priceline.

"Auroras improvement in the ROB Board Games was made possible by the swift and responsible actions by the collective Board and with the full support of management," said Michael Singer, Executive Chairman of Aurora. "Immediately following the 2018 Board Games report, our Board underwent a critical review of its practices, policies and disclosures in an effort to be explicitly transparent with our shareholders and demonstrate leadership through its commitment to enhancing overall governance as Aurora continues advancing as the global cannabis leader. We are very pleased with this marked improvement and yet another important point of differentiation of Aurora from its peers."

So then, with Aurora Cannabis, might we be seeing something similar? Could this be the time to make a buy? Or, could this be more like a situation of eToys or Pets.com?

In partnership with its strategic advisors and the active participation of all Board members, Aurora was able to implement a series of important changes ahead of the close of its fiscal year, June 30, 2019.

But next year there will be another catalyst for growth in the Canadian market – that is, Cannabis 2.0. This is when it will be legal to sell hemp-based edibles.

Norma Beauchamp, Chair of Auroras Corporate Nominating and Governance Committee, added, "I am proud of the efforts this Board has undergone in a very short timeframe and with great determination to make big and critical shifts that are akin to mature businesses. We still have room for growth and are already in the process of implementing even further adjustments that we believe are appropriate for Auroras long-term success. The dramatic rise in ranking is a testament to the conviction of the organization."

The 2019 Board Games and complete methodology can be accessed here. Auroras Board of Directors circular can be viewed here.

Headquartered in Edmonton, Alberta, Canada with funded capacity in excess of 625,000 kg per annum and sales and operations in 25 countries across five continents, Aurora is one of the worlds largest and leading cannabis companies. Aurora is vertically integrated and horizontally diversified across every key segment of the value chain, from facility engineering and design to cannabis breeding and genetics research, cannabis and hemp production, derivatives, high value-add product development, home cultivation, wholesale and retail distribution.

Highly differentiated from its peers, Aurora has established a uniquely advanced, consistent and efficient production strategy, based on purpose-built facilities that integrate leading-edge technologies across all processes, defined by extensive automation and customization, resulting in the massive scale production of high-quality consistent product. Designed to be replicable and scalable globally, our production facilities are designed to produce cannabis at significant scale, with high quality, industry-leading yields, and low-per gram production costs. Each of Auroras facilities is built to meet European Union Good Manufacturing Practices ("EU GMP") standards. Certification has been granted to Auroras first production facility in Mountain View County, the MedReleaf Markham facility, and its wholly owned European medical cannabis distributor Aurora Deutschland. All Aurora facilities are designed and built to the EU GMP standard.

In addition to the Companys rapid organic growth and strong execution on strategic M&A, which to date includes 17 wholly owned subsidiary companies – MedReleaf, CanvasRX, Peloton Pharmaceutical, Aurora Deutschland, H2 Biopharma, BC Northern Lights, Larssen Greenhouses, CanniMed Therapeutics, Anandia, HotHouse Consulting, MED Colombia, Agropro, Borela, ICC Labs, Whistler, Chemi Pharmaceutical, and Hempco – Aurora is distinguished by its reputation as a partner and employer of choice in the global cannabis sector, having invested in and established strategic partnerships with a range of leading innovators, including: Radient Technologies Inc. (TSXV: RTI), Cann Group Ltd. (ASX: CAN), Micron Waste Technologies Inc. (CSE: MWM), Choom Holdings Inc. (CSE: CHOO), CTT Pharmaceuticals (OTCC: CTTH), Alcanna Inc. (TSX: CLIQ), High Tide Inc. (CSE: HITI), EnWave Corporation (TSXV: ENW), Capcium Inc. (private), Evio Beauty Group (private), and Wagner Dimas (private).

Auroras Common Shares trade on the TSX and NYSE under the symbol "ACB", and is a constituent of the S&P/TSX Composite Index.

This news release includes statements containing certain "forward-looking information" within the meaning of applicable securities law ("forward-looking statements"). Forward-looking statements are frequently characterized by words such as "plan", "continue", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. These forward-looking statements are only predictions.  Various assumptions were used in drawing the conclusions or making the projections contained in the forward-looking statements throughout this news release. Forward-looking statements are based on the opinions, estimates and assumptions of management in light of managements experience and perception of historical trends, current conditions and expected developments at the date the statements are made, such as current and future market conditions, the current and future regulatory environment and future approvals and permits. Forward-looking statements are subject to a variety of risks, uncertainties and other factors that management believes to be relevant and reasonable in the circumstances could cause actual events, results, level of activity, performance, prospects, opportunities or achievements to differ materially from those projected in the forward-looking statements, including general business and economic conditions, changes in laws and regulations, product demand, changes in prices of required commodities, competition and other risks, uncertainties and factors set out under the heading "Risk Factors" in the Companys annual information form dated September 10, 2019 (the "AIF") and filed with Canadian securities regulators available on the Companys issuer profile on SEDAR at www.sedar.com. The Company cautions that the list of risks, uncertainties and other factors described in the AIF is not exhaustive and other factors could also adversely affect its results. Readers are urged to consider the risks, uncertainties and assumptions carefully in evaluating the forward-looking statements and are cautioned not to place undue reliance on such information. 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 securities laws.