Broadest Medical Cannabis Product Range in
NYSE | TSX: ACB
EDMONTON, AB, Jan. 27, 2021 /CNW/ - Aurora Cannabis Inc.
(the "Company" or "Aurora") (NYSE: ACB) (TSX: ACB), the Canadian
company defining the future of cannabinoids worldwide, today
announced it has entered into a strategic agreement with MedReleaf
Australia ("MedReleaf"). The companies have signed a five-year
supply agreement, which provides for MedReleaf to act as the
exclusive supplier in Australia of
Aurora's MedReleaf, CanniMed and Aurora brands. Products covered by
the agreement will be EUGMP certified and include dried flower,
oils, and soft gels, as well as future products employing new
delivery mechanisms. The agreement does not require or include any
capital investment by Aurora.
MedReleaf Australia, in which Aurora holds a 10% ownership
stake, is a fully licenced, private company operating in the
Australian medical cannabis sector since 2016. MedReleaf and Aurora
currently supply products to the Australian medical cannabis
system. This agreement will advance that offering and extend
availability of high-quality, medical cannabis to patients.
MedReleaf is one of the six founding members of the trade
association Medicinal Cannabis Industry Australia (MCIA).
"We are pleased to have established a long-term strategic
relationship with MedReleaf to exclusively distribute the Aurora,
CanniMed and MedReleaf brands in Australia," said Miguel Martin, CEO of Aurora. "The team at
MedReleaf have created an asset-light, sustainable growth platform
in Australia to assist physicians,
pharmacists and patients across the country in accessing the
high-quality range of Aurora cannabis medicines."
Russell Harding, CEO of MedReleaf
added, "Australia's medical
cannabis system is well designed, well regulated, and among the
fastest growing in the world. Our strategic supply agreement with
Aurora ensures that our patients will have reliable access to
cannabis medicines with a worldwide reputation for quality and in
accordance with the stringent requirements of Australia's Therapeutic Goods Administration.
To support our companies' shared objectives in the Australian
market, we will focus with diligence and discipline on continuing
to expand our patient and prescriber base."
Aurora is a global leader in the cannabis industry serving both
the medical and consumer markets. Headquartered in Edmonton, Alberta, Aurora is a pioneer in
global cannabis dedicated to helping people improve their lives.
The Company's brand portfolio includes Aurora, Aurora Drift, San
Rafael '71, Daily Special, AltaVie, MedReleaf, CanniMed, Whistler,
and Reliva CBD. Providing customers with innovative, high-quality
cannabis products, Aurora's brands continue to break through as
industry leaders in the medical, performance, wellness and
recreational markets wherever they are launched. For more
information, please visit our website at www.auroramj.com.
Aurora's Common Shares trade on the TSX and NYSE under the
symbol "ACB" and is a constituent of the S&P/TSX Composite
Forward Looking Statements
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 supply of cannabis products to MedReleaf Australia. These
forward-looking 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, estimates and assumptions of management in light of
management's experience and perception of historical trends,
current conditions and expected developments at the date the
statements are made, such as current and future market conditions,
the ability to maintain SG&A costs in line with current
expectations, the ability to achieve high margin revenues in the
Canadian consumer market, the current and future regulatory
environment and future approvals and permits. 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, including the risks associated with:
entering the U.S. market, the ability to realize the anticipated
benefits associated with the acquisition of Reliva, achievement of
Aurora's business transformation plan, general business and
economic conditions, changes in laws and regulations, product
demand, changes in prices of required commodities, competition, the
effects of and responses to the COVID-19 pandemic and other risks,
uncertainties and factors set out under the heading "Risk Factors"
in the Company's annual information form dated September 24, 2020 (the "AIF") and filed
with Canadian securities regulators available on the Company's
issuer profile on SEDAR at www.sedar.com and filed with and
available on the SEC's website at www.sec.gov, any of which could
cause the Company to change its use of proceeds from the Offering.
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.