Arrangement to Provide Additional Product Supply to Aurora, Growth Acceleration for WeedMD
TSX-V: ACB, TSX-V: WMD
VANCOUVER and TORONTO, June 28, 2017 /CNW/ – Aurora Cannabis Inc. and WeedMD Inc. announce that the companies have entered into a strategic relationship whereby WeedMD will provide wholesale dried medical cannabis to Aurora, and Aurora will provide best in class patient education services for WeedMD through its cannabis counseling and outreach unit CanvasRx.
WeedMD’s commitment under the agreement is to wholesale product to Aurora for demand above and beyond WeedMD’s own patient requirements. Pursuant to the agreement, WeedMD has made an initial sale to Aurora out of inventoried product, while ensuring that its retained supply is such that current and future patient needs can be met.
Aurora, in turn, will assist WeedMD with its patient education and outreach program through the Company’s CanvasRx unit. This makes available to WeedMD expert knowledge and experience in patient counselling, outreach and interaction, accelerating WeedMD’s ability to engage with its growing customer base.
“This is a win-win relationship benefiting both companies,” said Terry Booth, Aurora CEO. “We are always looking to expand our product offering, both in terms of quantity for sale and new strains, but we will only do so if we are highly confident that the new products meet the industry-leading Aurora Standard. We have been following WeedMD closely since we first met with their team three years ago, and are impressed with their rigorous commitment to Good Production Practices. We therefore believe WeedMD’s products will make a strong addition to our product portfolio, and we look forward to building a deeper relationship as both companies continue to expand.”
Bruce Dawson-Scully, CEO of WeedMD, added, “This relationship represents a cost-effective opportunity to accelerate our commercial development, as we become part of the growing medical market and prepare for future adult consumer use. We are very excited to be entering into a strategic relationship with one of the world’s leading cannabis companies, and benefit from their brand recognition, as well as their counselling, and sales and marketing know-how. Finally, the collaboration with Aurora’s CanvasRx, which has been an extremely valuable resource for medical cannabis patients across the country, will help us generate an important presence in the market.”
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, Quebec, on Montreal’s West Island. In addition, the company is the cornerstone investor with a 19.9% stake in Cann Group Limited, the first Australian company licensed to conduct research on and cultivate medical cannabis, as well as owns Pedanios, a leading wholesale importer, exporter, and distributor of medical cannabis in the European Union (“EU”), based in Germany. Aurora’s common shares trade on the TSX-V under the symbol “ACB”.
WeedMD Inc. is a licensed producer of medical cannabis pursuant to the Access to Cannabis for Medical Purposes Regulations (ACMPR). WeedMD operates a 26,000 square foot, scalable production facility in Aylmer, Ontario with four acres of property for future expansion. WeedMD is focused on providing consistent, quality medicine to the long-term care and assisted living markets in Canada through its comprehensive platform developed exclusively for that industry. WeedMD is dedicated to educating healthcare practitioners and furthering public understanding of the role medical cannabis can play as a viable alternative to prescription medication in relieving a variety of chronic medical conditions and illnesses.
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 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 and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. 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 law.
The TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.