NASDAQ | TSX: ACB
Agreement Complements Existing Relationship
Focused on the Supply of Premium Cannabis
EDMONTON, AB, February 6, 2025 /CNW/ - Aurora
Cannabis Inc. (the "Company" or "Aurora") (NASDAQ: ACB) (TSX:
ACB) –the Canadian based leading global medical cannabis company,
is pleased to announce a strategic supply agreement (the
"Agreement") with SNDL Inc. ("SNDL"), a Canadian
licensed producer and vertically integrated cannabis
enterprise.
Under this Agreement, SNDL is expected to supply Aurora with
premium cannabis flower product grown at SNDL's indoor facility in
Atholville, New Brunswick. The
term of the agreement is for three years with an option to extend
and an estimated value of $27
million. Aurora and SNDL have an existing and successful
supply relationship for the manufacturing of various cannabis
products and input material.
"Following our strong, third quarter performance driven by
record setting growth in our international medical cannabis
segment, Aurora remains focused on a balanced approach to operating
a hybrid manufacturing network of in-house and third-party
cultivation. We value our relationship with SNDL and their shared
commitment to cultivation excellence," said Miguel Martin, Executive Chairman and Chief
Executive Officer of Aurora Cannabis.
"As Canada's leading integrated
cannabis company, SNDL is well positioned as a supplier of quality
cannabis products to commercial partners like Aurora. We have a
shared approach to quality and cultivation excellence and look
forward to expanding this relationship further," said Zach George, Chief Executive Officer of
SNDL.
About Aurora Cannabis
Aurora is opening the world to cannabis, serving both the
medical and consumer markets across Canada, Europe and
Australia. 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, 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".
Contact
For Investors: ICR, Inc. |
aurora@icrinc.com
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, but are not limited to, statements regarding the
Company's supply agreement and relationship with SNDL, including
but not limited to the contract term and expected value,
expectations related to the supply of flower product from SNDL and
the Company's focus on a balanced approach to operating a hybrid
manufacturing network of in-house and third-party cultivation.
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 non-government 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 (with respect to the Transaction and more generally with
respect to future acquisitions), 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 from 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.
