Agreement Covers Award-Winning MüV Specialty
Medical Products Line
TSX: ACB CSE: CRZ
VANCOUVER and OTTAWA, Dec. 13,
2017 /CNW/ - Aurora Cannabis Inc. ("Aurora") (TSX: ACB)
(OTCQB: ACBFF) (Frankfurt: 21P;
WKN: A1C4WM) and CannaRoyalty Corp. (CSE: CRZ) (OTCQX: CNNRF)
("CannaRoyalty") today announced that the companies have signed a
binding Letter of Intent, giving Aurora the exclusive right for 90
days to negotiate a final licensing agreement (the "Final
Agreement").
The Final Agreement concerns the acquisition by Aurora of the
exclusive rights for Canada,
Europe and Australia to the intellectual property,
manufacturing procedures, and the sales and marketing rights
related to a portfolio of specialty branded cannabis drug delivery
technologies from the award-winning MüV brand, to which
CannaRoyalty holds the licensing rights.
MüV is a line of cannabis-infused products, developed by
CannaRoyalty investee AltMed Enterprises, focused on advanced
alternative cannabinoid delivery mechanisms for the medical and the
LOHAS (Lifestyles of Health and Sustainability) segments of the
market. The line was successfully launched in the U.S. in 2016.
The MüV products to be covered by the license agreement include
the following:
- MüV Metered Dose Inhaler
- MüV Transdermal Patch
- CBD Sports Gel
- CBD Hydrating Lotion
- THC Sports Gel
- THC Hydrating Lotion
- THC Pain Relief Cream
Characterization tests, meeting FDA standards, were conducted,
and the data were subsequently reviewed by Aurora on the MüV
Metered Dose Inhaler, which was found to achieve the required
criteria, validating that the product meets the Aurora Standard of
quality and user experience.
"This agreement shows Aurora's strategic commitment to the
development of advanced alternative delivery mechanisms to broaden
the Company's product offering," said Terry
Booth, CEO. "It also shows how a growing constellation of
trusted innovation partners sees Aurora as the winning brand to
help commercialize their products and technologies, and we look
forward to finalizing our agreement with CannaRoyalty and bringing
these exciting new offerings to our growing international customer
base."
Marc Lustig, CEO of CannaRoyalty,
added, "This agreement with Aurora represents a significant
opportunity to accelerate the growth of AltMed's award-winning MüV
product line on an international scale, leveraging our relationship
with one of the world's most dynamic cannabis companies. The MüV
line meets the growing need for specialized products with
alternative delivery mechanisms, especially in critical
jurisdictions, such as Canada and
Germany, where consumers to date
have been limited in terms of product choice. Aurora is a great
partner to help us penetrate these new markets, and we look forward
to completing our final agreement."
About 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, known as "Aurora
Mountain", a second 40,000 square foot high-technology production
facility known as "Aurora Vie" in Pointe-Claire, Quebec on Montreal's West Island, and is currently
constructing an 800,000 square foot production facility, known as
"Aurora Sky", at the Edmonton
International Airport, as well as is completing a fourth facility
in Lachute, Quebec through its
wholly owned subsidiary Aurora Larssen Projects Ltd.
In addition, the Company holds approximately 17.23% of the
issued shares in leading extraction technology company Radient
Technologies Inc., based in Edmonton, and is in the process of completing
an investment in Edmonton-based
Hempco Food and Fiber for an ownership stake of up to 50.1%.
Furthermore, Aurora is the cornerstone investor with a 22.9% stake
in Cann Group Limited, the first Australian company licensed to
conduct research on and cultivate medical cannabis. Aurora also
owns Pedanios, a leading wholesale importer, exporter, and
distributor of medical cannabis in the European Union, based in
Germany. The Company offers
further differentiation through its acquisition of BC Northern
Lights Ltd. and Urban Cultivator Inc., industry leaders,
respectively, in the production and sale of proprietary systems for
the safe, efficient and high-yield indoor cultivation of cannabis,
and in state-of-the-art indoor gardening appliances for the
cultivation of organic microgreens, vegetables and herbs in home
and professional kitchens. Aurora's common shares trade on the TSX
under the symbol "ACB".
About CannaRoyalty
CannaRoyalty is an active investor and operator in the legal
cannabis sector. Our focus is building and supporting a diversified
portfolio of growth-ready assets in high-value segments of the
cannabis sector, including research, consumer brands, devices and
intellectual property. Our management team combines a hands-on
understanding of the cannabis industry with seasoned financial
know-how, assembling a platform of holdings via royalty agreements,
equity interests, secured convertible debt, licensing agreements
and its own branded portfolio.
About MüV
The MüV brand is owned by Alternative Medical Enterprises, LLC
("AltMed"). CannaRoyalty owns a 8.3% equity ownership position in
AltMed, with licensing right for MüV products in various
jurisdictions. MüV is an award-winning science focused cannabis
consumer brand that is focused on developing outstanding,
consistent, and pure cannabis-based branded products. MüV has
medical, scientific, and development teams that conduct ongoing
innovative research and development aimed at producing the finest
and most consistent cannabis-based products on the market. MüV
believes in purity, testing ingredients and product components to
assure 100% compliance with its benchmark quality standards. This
approach has allowed MüV to become one of the most recognized
cannabis brands in North America,
as it continues to expand and improve its leading product
portfolio.
About AltMed
Alternative Medical Enterprises, LLC, headquartered in
Sarasota, FL and doing business as
AltMed Enterprises, is a fully integrated company that brings
pharmaceutical industry precision to the development, production
and dispensing of medical cannabinoids.
On behalf of the
Boards of Directors,
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On behalf of the
Boards of Directors,
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AURORA CANNABIS
INC.
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CannaRoyalty
Corp.
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Terry
Booth
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Marc
Lustig
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CEO
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CEO
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This news release includes statements containing certain
"forward-looking information" within the meaning of applicable
securities law ("forward-looking statements"), including, but not
limited to, statements with respect to the completion of a final
agreement between Aurora and CannaRoyalty. 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.
Neither TSX or CSE, nor their Regulation Services Provider
(as that term is defined in the policies of Toronto Stock Exchange
and the Canadian Securities Exchange) accept responsibility for the
adequacy or accuracy of this release.
SOURCE Aurora Cannabis Inc.