Friedmann and Detlefsen Bring Significant
Experience in Consumer Products and Marketing
NYSE | TSX : ACB
EDMONTON, Feb. 6, 2020 /CNW/ - Aurora Cannabis
Inc. (the "Company" or "Aurora") (NYSE | TSX: ACB), the Canadian
company defining the future of cannabis worldwide, today appointed
two new independent directors, Lance
Friedmann and Michael
Detlefsen (together the "New Directors"). The New Directors
term begins immediately.
Executive Chairman and Interim CEO Michael Singer stated, "We are pleased to
welcome Lance Friedmann and
Michael Detlefsen as independent
members to the board at this critical time in our transformation.
We expect to see cannabinoids grow as a category in consumer
products and believe their depth of experience and strong track
records of successful brand development and operational business
transformation will provide helpful insights to our executive team.
With the addition of Messrs. Friedmann and Detlefsen, Aurora has
expanded its Board, independent directors."
About Lance Friedmann
Over Mr. Friedmann's 25 year experience with Kraft Foods and
Mondelēz International, Inc. he held a number of roles of
progressing scope and responsibility focused on marketing,
strategy, and customer insights across the U.S., Latin America, and Asia. His experience includes senior
management of Kraft Foods' marketing-related and corporate
marketing programs, for Canada,
Mexico and Puerto Rico, and Health & Wellness.
Notably, he played a critical role in the launch of the "Sensible
Solutions" product line, and subsequently led Mondelez's
$12 billion global biscuits category,
including Oreo, the world's #1 biscuit brand.
About Michael
Detlefsen
Mr. Detlefsen is currently the Managing Director of Pomegranate
Capital Advisors, an active investor advisory firm with holdings in
the branded consumer and B2B food sectors, agribusiness and
financial services. He brings over 30 years as a senior executive
and investor in the global consumer products, agri-food, logistics
and transportation, and telecom sectors. He has a strong track
record of developing and executing strategies to accelerate growth,
transform operations, improve capital allocation and substantially
enhance corporate performance. Mr. Detlefsen currently serves on
the boards of SunOpta (NASDAQ: STKL) and Phoenix Canada Oil Company
(TSX:PCO), and is the Executive Chair of Elevation Brands, a
privately-held consumer products company focused on gluten-free and
allergen-friendly foods. He is also a Governor of the Royal Ontario
Museum, Canada's largest museum of
natural history and world cultures. Mr. Detlefsen previously served
on the boards of State Street and Multi-Marques in Canada and CWC Communications PLC in the
UK.
CEO Retirement and Succession & Business Transformation
Plan
Aurora also announced today in a separate announcement a CEO
Retirement and Succession & Business Transformation Plan to
better align fixed costs and capital expenditures with current
market conditions. These combined changes will significantly
accelerate Aurora's path to cash flow break even while still
maintaining the Company's ability to capitalize on the long-term,
global cannabinoids market opportunity. Aurora will host a
conference call today at 5:00 p.m. Eastern
Time to discuss these business updates.
CEO Succession & Business Transformation Plan Conference
Call
DATE: Today, Thursday, February 6,
2020
TIME: 5:00 p.m. Eastern Time |
3:00 p.m. Mountain Time
WEBCAST: http://public.viavid.com/index.php?id=138052
REPLAY: (844)-512-2921 or (412)-317-6671
PIN NUMBER: 13698974
Available until 11:59 p.m. Eastern Time
Thursday, February 20, 2020
About Aurora
Headquartered in Edmonton, Alberta,
Canada with sales and operations in 25 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 consistent product. Designed to be replicable and
scalable globally, our production facilities are designed to
produce cannabis at significant scale, with high quality,
industry-leading yields, and low-per gram production costs. Each of
Aurora's facilities is built to meet European Union Good
Manufacturing Practices ("EU GMP") standards. 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. All
Aurora facilities are designed and built to the EU GMP
standard.
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, BC Northern
Lights, Larssen Greenhouses, CanniMed Therapeutics, Anandia,
HotHouse Consulting, MED Colombia, Agropro, Borela, ICC Labs,
Whistler, Chemi Pharmaceutical, and Hempco – 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), Cann Group Ltd.
(ASX: CAN), Micron Waste Technologies Inc. (CSE: MWM), Choom
Holdings Inc. (CSE: CHOO), CTT Pharmaceuticals (OTCC: CTTH),
Alcanna Inc. (TSX: CLIQ), High Tide Inc. (CSE: HITI), EnWave
Corporation (TSXV: ENW), Capcium Inc. (private), Evio Beauty Group
(private), and Wagner Dimas (private).
Aurora's Common Shares trade on the TSX and NYSE under the
symbol "ACB", and is a constituent of the S&P/TSX Composite
Index.
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 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 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 general business and economic
conditions, changes in laws and regulations, product demand,
changes in prices of required commodities, competition and other
risks, uncertainties and factors set out under the heading "Risk
Factors" in the Company's annual information form dated
September 10, 2019 (the "AIF") and
filed with Canadian securities regulators available on the
Company's issuer profile on SEDAR at www.sedar.com. 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 laws.
Neither TSX nor its Regulation Services Provider (as that term
is defined in the policies of Toronto Stock Exchange) accepts
responsibility for the adequacy or accuracy of this release.
View original content to download
multimedia:http://www.prnewswire.com/news-releases/aurora-cannabis-announces-appointment-of-two-new-independent-directors-301000687.html
SOURCE Aurora Cannabis Inc.