Transformational Milestone for Radient,
Increasing Aurora's Global Derivative Market Capacity
Substantially
TSX: ACB | NYSE: ACB, TSXV: RTI
EDMONTON, May 13, 2019 /CNW/ - Aurora Cannabis Inc.
(the "Company" or "Aurora") (NYSE:ACB) (TSX: ACB)
(Frankfurt: 21P; WKN: A1C4WM) and
Radient Technologies Inc. ("Radient") (TSX Venture: RTI;
OTCQX: RDDTF), announced today that Aurora has taken delivery of
Radient's first commercial batch of finished cannabis derivatives,
from Radient's proprietary extraction platform. With this
first batch, Radient has proven its enhanced ability to produce
cannabinoid derivatives at commercial scale, and will continue
to scale up production at Radient's cannabis facility in
Edmonton, reaching an expected
eventual annual throughput of approximately 300,000 kg
of cannabis biomass at this single location.
The partnership between Radient and Aurora was established in
2017 after the completion of a Research Joint Venture
that validated Radient's MAPTM extraction
technology was capable of superior cannabinoid extraction at
commercial scale. For Aurora, the relationship with Radient forms
an important component of its derivative product
strategy, providing a greater return on the biomass
allocated for extraction, favourable cost
advantages, and significantly increased extraction
capacity.
High Volume
Throughput Technology
In Radient's deliveries to Aurora, commercial scale batches of
dried cannabis biomass were fully processed and refined within a
24-hour period, due mainly to the speed of initial extraction and
the unique, continuous flow nature of Radient's platform.
Radient's technology platform is designed for high extraction
efficiencies and high-volume throughput of cannabinoids available
in the plant biomass. This is anticipated to provide Aurora
with cost and volume advantages in delivering a broad
suite of derivative products.
Radient's Hemp facility in Edmonton will have an annual throughput of
approximately 3,200,000 kg of hemp biomass. Phase one is expected
to be completed in calendar Q3 of 2019.
Management Commentary
"Aurora recognized early that high-throughput,
high-quality extraction technologies would be a competitive
advantage in a rapidly developing cannabis industry," said
Terry Booth, CEO of Aurora. "Our
investment will begin to pay dividends with Radient achieving
fully licensed, commercial status. Once scaled up, the
addition of Radient's technology will significantly increase our
ability to deliver high-value cannabis products at
scale, complementing our existing internal extraction
capabilities, which will support a full suite of derivative
products."
Mr. Booth continued, "Cannabidiol (CBD) derived
from hemp requires the level of throughput that Radient's
technology and state-of-the-art second facility will
provide to existing and future medical, wellness and consumer
markets. We look forward to working with Denis and the
Radient team to further our global position in the derivative
markets."
Denis Taschuk, CEO of Radient,
added, "Achieving commercial production and sales is a crucial
milestone we are very proud to have achieved. We have worked
diligently over the past two years towards this inflection point,
together with our partner Aurora and we are now very well
positioned for accelerated growth going forward. We appreciate
the patience our shareholders have shown as we executed on our
transformational business plan. Aurora's execution in the global
medical cannabis space inspired us with
their continued confidence in our technology."
About Aurora
Headquartered in Edmonton, Alberta,
Canada with funded capacity in excess of 625,000 kg of
cannabis per annum and sales and operations in 24 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 low cost. Intended to be replicable and
scalable globally, our production facilities are designed to
produce cannabis of significant scale, with high quality,
industry-leading yields, and low per gram production costs. Each of
Aurora's facilities is built to meet EU GMP standards. EU GMP
certification has been granted to Aurora's first production
facility in Mountain View County, the MedReleaf Markham facility,
and its wholly owned European medical cannabis distributor Aurora
Deutschland.
In addition to the Company's rapid organic growth and strong
execution on strategic M&A, which to date includes 17 wholly
owned subsidiary companies – MedReleaf, CanvasRX, Peloton
Pharmaceutical, Aurora Deutschland, H2 Biopharma, Urban Cultivator,
BC Northern Lights, Larssen Greenhouses, CanniMed Therapeutics,
Anandia, HotHouse Consulting, MED Colombia, Agropro, Borela, ICC
Labs, Whistler, and Chemi Pharmaceutical – Aurora is distinguished
by its reputation as a partner and employer of choice in the global
cannabis sector, having invested in and established strategic
partnerships with a range of leading innovators, including: 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), Capcium Inc.
(private), Evio Beauty Group (private), Wagner Dimas (private), CTT
Pharmaceuticals (OTCC: CTTH), Alcanna Inc. (TSX: CLIQ), High Tide
Inc. (CSE: HITI) and EnWave Corporate (TSXV: ENW).
Aurora's Common Shares trade on the TSX and NYSE 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
About Radient
Radient Technologies provides industrial scale manufacturing
solutions for premium natural ingredients and products. Utilizing
its patented MAP™ extraction technology, Radient delivers superior
customer outcomes in terms of ingredient purity, yield, and cost,
serving global market leaders in industries such as food &
beverage, nutraceutical, pharmaceutical, cosmetic, and personal
care. Since 2016, Radient has expanded its offerings to enter the
cannabinoid market, using its MAP™ platform to provide premium
ingredients that contain a full range of cannabinoid and terpene
profiles. Please visit www.radientinc.com for more information.
Terry Booth, CEO
Aurora Cannabis
Inc.
Denis Taschuk, CEO
Radient Technologies
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 and include, but are not limited to future
deliveries of cannabinoid extracts by Radient, future yields and
efficiencies resulting from Radient's
MAPTM extraction technology and Radient's ability
to expand its business in the cannabis sector. 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 the TSX, TSX Venture, NYSE, nor their Regulation
Services Provider (as that term is defined in the policies of the
TSX, TSX Venture and NYSE) accepts responsibility for the adequacy
or accuracy of this release.
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SOURCE Aurora Cannabis Inc.