Company's New EU-Based Cannabis Production Facility Will Serve Maltese and EU Export Markets
Aurora Cannabis Inc. ("Aurora" or the "Company") (TSX: ACB) (OTCQB: ACBFF) (Frankfurt: 21P; WKN: A1C4WM) today announced that the Company has received a Letter of Intent from Malta Enterprise, approving its application for the establishment of a seed-to-pharma cannabis operation subject to certain conditions. The project includes the construction of a hybrid cultivation, manufacturing, and distribution facility, with operations to be carried out by a new subsidiary, Aurora Malta, to be formed with Aurora's local Maltese partner Cherubino Ltd. ("Cherubino"), the largest pharmaceutical wholesaler in the country with an operating history of over 100 years.
- This is the first cultivation LOI issued by the Maltese authorities to date
- Aurora will be the majority shareholder in the new venture
- True seed-to-pharma operation, including the processing of cannabis into oils and other derivative products
- Aurora will be allocated land for the development of the facility by Malta Industrial Parks Ltd.
- The facility will be designed by Aurora Larssen Projects Ltd. ("ALPS"), and built using additional local expertise
- Both cultivation and processing operations to be completed to EU GMP standards
- Aurora, through Pedanios, has worked closely with its local partner Cherubino Ltd. to develop a concept for the cultivation of medicinal cannabis that fulfills all necessary requirements in accordance with the Maltese "Production of Cannabis for Medicinal and Research Purpose Act, 2018"
- Final size and design of the facility will be announced shortly
- In addition to serving the domestic Maltese market, Malta is strategically located to serve export markets throughout Europe
"Aurora already was the first company to export medical cannabis to both Italy and Malta, and now are the first to receive approval for the production, processing, and distribution of cannabis in the country," said Neil Belot, Chief Global Business Development Officer. "Having an EU GMP compliant facility in Malta will position us well to serve multiple international markets, including Southern Europe and beyond. We are delighted to have Cherubino as our local partner, whose professionalism, reputation and standing in Malta were instrumental in establishing a local presence. We look forward to creating a thriving Maltese business, generating significant employment opportunities, and serving medical patients with high-quality cannabis products."
Headquartered in Edmonton, Alberta, with funded capacity in excess of 430,000 kg per year and sales and operations in 14 countries across five continents, Aurora is one of the world's largest and leading cannabis companies. Aurora is vertically integrated and horizontally diversified across every key segment of the value chain, from facility engineering and design to cannabis breeding and genetics research, cannabis and hemp production, derivatives, high value-add product development, home cultivation, wholesale and retail distribution.
Highly differentiated from its peers, Aurora has established a uniquely advanced, consistent and efficient production strategy, based on purpose-built facilities that integrate leading-edge technologies across all processes, defined by extensive automation and customization, resulting in the massive scale production of high quality product at ultra-low costs. Intended to be replicable and scalable globally, these production facilities are designed to produce cannabis of significant scale, with high quality, industry-leading yields, and ultra-low per gram production costs. Each of Aurora's facilities is built to meet European Union (EU) GMP standards, and both its first production facility and its wholly owned European medical cannabis distributor Pedanios have achieved this level of certification.
In addition to the Company's rapid organic growth and strong execution on strategic M&A, which to date includes nine companies acquired - CanvasRX, Peloton Pharmaceutical, Pedanios, H2 Biopharma, Urban Cultivator, BC Northern Lights, Larssen, CanniMed Therapeutics, and Anandia Labs - Aurora is distinguished by its reputation as a partner of choice and employer of choice in the global cannabis sector, having invested in and established strategic partnerships with a range of leading innovators, including: The Green Organic Dutchman Holdings Ltd. (TSX: TGOD), Radient Technologies Inc. (TSXV: RTI), Hempco Food and Fiber Inc. (TSXV: HEMP), Cann Group Ltd. (ASX: CAN), Micron Waste Technologies Inc. (CSE: MWM), Choom Holdings Inc. (CSE: CHOO), Namaste Technologies Inc. (TSXV: N), Evio Beauty Group (private), Wagner Dimas (private), CTT Pharmaceuticals (OTCC: CTTH), and Alcanna Inc. (TSX: CLIQ).
Aurora's Common Shares trade on the TSX under the symbol "ACB", and are a constituent of the S&P/TSX Composite Index.
For more information about Aurora, please visit our investor website investor.auroramj.com.
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. 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.
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Terry Booth, CEO
Aurora Cannabis Inc.
SOURCE Aurora Cannabis Inc.