Aurora Cannabis Inc. (“Aurora” or the “Company”) (ACB.TO) (ACBFF) ( Frankfurt : 21P; WKN: A1C4WM) is pleased to provide the following update on its international operations.
The Company has successfully shipped cultivars from its Mountain facility to Denmark to commence populating the Phase I Aurora Nordic facility, a 100,000 square foot, retrofitted hybrid greenhouse, which will be ramping up to full production capacity of 8,000 kg per year of medical cannabis over the coming months. Aurora Nordic is a 51%-Aurora owned subsidiary owned in partnership with Alfred Pederson & Son. Both the Phase I facility and Phase II, a 1,000,000 square foot, hybrid greenhouse facility with a cultivation capacity of more than 120,000 KG per year, have been designed by Aurora Larssen Projects Ltd. (“ALPS”), and will be completed to EU GMP standards, incorporating leading edge technologies.
Following a provisional EU GMP certification of a single shipment, as announced on July 11, 2018 , Aurora’s new wholly-owned subsidiary, MedReleaf Corp., has now received full EU GMP (Good Manufacturing Practices) certification for its Markham facility.
In total globally, there are currently only 6 EU GMP certified cannabis production facilities, two of which are based in Canada and belong to Aurora. Through Pedanios, Aurora also owns an EU GMP certified distribution center for medical cannabis based in Germany . The new certification will increase product availability for the rapidly growing, higher-margin and heavily regulated EU market. All of the Company’s facilities are being designed and built to EU GMP standards.
The Company is focused on introducing the Aurora Standard to new, emerging international markets, including the establishment of local production facilities, initiating new distribution channels, expanding access to genetics, technologies and product formulations, as well as providing governments, patients and physicians with science-based data and educational tools and resources. The Company has established a strong position as the partner of choice in the various jurisdictions it operates in, enabling it to enter into collaborations with leading local partners, who themselves have deep track records as trusted and exceptional business operators.
Reflecting the growth of this international constellation of partnerships in Europe and the importance of the European market for Aurora, the Company has established a pan-European company, Aurora Europe GmbH, headquartered in Berlin, Germany . Furthermore, the Company has incorporated a number of local subsidiaries, an important step towards becoming part of the cannabis infrastructure in each of these countries. Pedanios GmbH, Europe’s largest distributor of cannabis, will henceforth operate as Aurora Deutschland GmbH, while the Company has also formed Aurora Italia , Aurora Nordic ( Denmark ), as well as a number of other, local companies. Aurora currently employs over 70 people in Europe and anticipates this number to grow substantially over the coming months as the Company expands its business activities across the European continent.
The German government recently announced it is restarting the tender process towards selecting a number of Companies for domestic cultivation. Aurora was in the final round of the original tender process, and intends to participate in the restarted process. This is part of the Company’s strategy to establish a strong and highly recognizable presence in key European markets. Aurora anticipates the tender process to be completed in 2019, in the meantime Aurora will continue to ship product to Germany from its EU GMP certified facilities in Canada . The original tender process was discontinued following a court decision to grant certain stakeholders more time to complete submissions. Aurora were on time in its submissions and were not a part of the court proceedings.
Earlier this month, MedReleaf announced it had commenced shipping product to a German distribution partner. Through MedReleaf, the Company believes it will be able to increase product availability to the European market, increasing brand recognition and generating further growth.
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