NASDAQ | TSX: ACB
Company's Long-Standing Investment in the
Region Continues with Enhanced Local Production and Domestic
Cultivar Research
EDMONTON, AB, July 25,
2024 /PRNewswire/ - Aurora Cannabis Inc. (the
"Company" or "Aurora") (NASDAQ: ACB) (TSX: ACB), a
leading Canadian-based global medical cannabis company, has been
granted two licenses by the Federal Institute for Drugs and Medical
Devices (BfArM) under Germany's
new Medical Cannabis Act (MedCanG). Aurora's license grants the
company continued domestic cultivation, which has been underway for
two years now. Under the new license, 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 license, allowing for the trial of up to seven
additional novel cultivars at the company's local EU GMP 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 licenses 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 ongoing
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 kg (about
2204 lb) 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 licenses. These additional licenses 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
Aurora is opening the world to cannabis, serving both the medical
and consumer markets across Canada, Europe, Australia, and South
America. Headquartered in Edmonton, Alberta, 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. Learn more
at www.auroramj.com and follow us on X and
LinkedIn.
Aurora's common shares trade on the NASDAQ and TSX under the
symbol "ACB".
Forward Looking Information
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. Forward-looking statements made in this news
release include statements regarding the Company's
commercialization partnership with Cogent, which include, but are
not limited to, those statements under the heading "Select
Partnership Details", statements related to the launch of Cogent's
newly-developed CBD lozenge on Aurora's Canadian medical cannabis
patient platform, the Company's ability to leverage its
industry-leading patient platform to support advancements in
medical cannabis and to provide its patients with access to a new,
innovative product, the ability for Vectura Fertin to study the
efficacy and other patient responses to the product while building
real-world patient data for future analysis, and increased interest
in the possibilities of medical cannabis.
These forward-looking statements are only predictions. Forward
looking information or statements contained in this news release
have been developed based on assumptions management considers to be
reasonable. Material factors or assumptions involved in developing
forward-looking statements include, without limitation, publicly
available information from governmental sources as well as from
market research and industry analysis and on assumptions based on
data and knowledge of this industry which the Company believes to
be reasonable. 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. These risks include,
but are not limited to, the ability to retain key personnel, the
ability to continue investing in infrastructure to support growth,
the ability to obtain financing on acceptable terms, the continued
quality of our products, customer experience and retention, the
development of third party government and nongovernment consumer
sales channels, management's estimates of consumer demand in
Canada and in jurisdictions where
the Company exports, expectations of future results and expenses,
the risk of successful integration of acquired business and
operations, management's estimation that SG&A will grow only in
proportion of revenue growth, the ability to expand and maintain
distribution capabilities, the impact of competition, the general
impact of financial market conditions, the yield from cannabis
growing operations, product demand, changes in prices of required
commodities, competition, and the possibility for changes in laws,
rules, and regulations in the industry, epidemics, pandemics or
other public health crises, and other risks, uncertainties and
factors set out under the heading "Risk Factors" in the Company's
annual information form dated June 20,
2024 (the "AIF") and filed with Canadian securities
regulators available on the Company's issuer profile on SEDAR at
www.sedarplus.com and filed with and available on the SEC's website
at www.sec.gov. 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
law.
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SOURCE Aurora Cannabis Inc.