Genetics and licensing business
will be led by new hire, Casey
Whelan, VP, Genetics Business Development
EDMONTON, AB, Nov. 16, 2021 /PRNewswire/ - Aurora Cannabis Inc.
(the "Company" or "Aurora") (NASDAQ: ACB) (TSX: ACB), the Canadian
company defining the future of cannabinoids worldwide, today
announced the naming of the Company's new genetics licensing
business unit – Occo – a leading innovator in the scientific
discovery and commercial advancement of novel cannabis cultivars,
backed by Aurora's state-of-the-art breeding and genetics facility
in Comox, British Columbia.
Occo, derived from the Latin word for 'tilling of the field,'
refers to the brand's reverence for the cannabis plant, and its
mission to support the people who grow and consume it. With the
largest catalogue of high-quality genetics available for licensing
in Canada, Occo is aptly
positioned to reach its goals of further developing the scientific
understanding of cannabis, commercializing high-quality products,
providing value for cannabis growers, and helping to realize the
full potential of the cannabis plant.
"As a business fueled by science, we firmly believe that
investing in cannabis research and development and the commercial
application of unique technologies, including biosynthesis, is
Aurora's true differentiator and will define the future of the
industry," says Charles Pick, Senior
Vice President of Science & Innovation at Aurora Cannabis.
"Under the Occo umbrella, licensed producers will be granted access
to a strong pipeline of novel cultivars and innovative traits that
will meet the evolving expectations of consumers. Occo already has
more than 30 high-quality cultivars, not available anywhere else on
the market, that are ready for immediate trial and exclusive
licensing."
Occo has seen early success, having already commercialized a
number of new cultivars with licensed producers (LPs), including
North 40's Farm Gas, as well as three cultivars recently
launched under Aurora's San Rafael '71 brand (Lemon Rocket,
Stonefruit Sunset and Driftwood Diesel).
"As a micro-producer with a long background in cultivation, I
focus on quality over quantity and really look for unique strains
that give consumers what they want," said Gord Nichol, owner of
North 40 Cannabis. "My experience with Aurora was genuinely
positive. We've grown two cultivars so far, Farm Gas and
Sourdough, and both have been impressive in terms of THC
levels and terps. It was a relief to bring the fire to market again
– this likely saved my business."
Occo will be based out of Aurora's Coast research and
development hub – one of the largest and most advanced facilities
for cannabis breeding and genetics in the world. The team includes
an unmatched group of experts in genomics, biotechnology,
pathology, tissue culture, analytics and testing, medical affairs,
and product development.
New to the team is Casey Whelan,
Vice President of Genetics Business Development, who will lead
Occo's efforts to license genetics to LPs in Canada and around the world. A lawyer by
training, Casey joins Occo after spending a decade in breeding and
licensing premium agricultural products.
For more information on Occo, visit www.occoinnovation.com or
follow along on Instagram and LinkedIn.
About Occo:
Occo is shaping the future of growing
cannabis by innovating and improving cannabis crops to be more
customer-focused, sustainable, and profitable. With nearly a decade
of global leadership in cannabis breeding and genetics, Occo is
developing the next generation of new and novel cultivars with
improved potency, terpenes, flowers, plant architecture, maturity,
yield and disease resistance. Occo has the largest catalogue of
exclusive cannabis genetics in Canada, available for trial and use by
licensed producers. A division of Aurora, Occo is building a
bright future for the cannabis industry. Learn more at
www.occoinnovation.com and follow along on Instagram and
LinkedIn.
About Aurora:
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,
MedReleaf, CanniMed, Whistler, Reliva and KG7 CBD. 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, performance, wellness and adult
recreational markets wherever they are launched. Learn more at
www.auroramj.com and follow us on Twitter and LinkedIn.
Aurora's common shares trade on the TSX
and NASDAQ under the symbol "ACB" and is a constituent of
the S&P/TSX Composite Index.
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 launch and leadership of the Company's science
and innovation business unit, the Company's competitive advantages
and strengths in plant science and innovation, the licensing of
genetics to other licensed producers including the expected
associated impact on the Company's business and overall industry,
and the creation of value for cannabis growers.
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,
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, including the current outbreak of
COVID-19, and other risks, uncertainties and factors set out under
the heading "Risk Factors" in the Company's annual information form
dated September 27, 2021 (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. 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.