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
Aurora achieved a new monthly record in May 2017 with gross revenue of more than $2.4 million, representing a 38% increase in revenue compared to January 2017. May reflects the first full month in which sales of the 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.
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. Aurora continues to offer what it believes to be the most compassionate pricing program in Canada for low income patients.
Aurora Sky Construction Update
Construction of the 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 underway.
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, Québec Production Facility
Development has begun on Aurora’s production facility on the island of Montréal 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.
Two-Year License Renewal
Health Canada has granted Aurora a two-year renewal of its license to produce and sell dried cannabis and cannabis oils at the Company’s production facility in Mountain View County, Alberta.
CanvasRx Continues Rapid Growth
Aurora’s CanvasRx subsidiary, the largest cannabis counseling 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.
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”.
SOURCE Aurora Cannabis Inc.