TSX: ACB CSE: PREVE
EDMONTON and VANCOUVER, March 13,
2018 /CNW/ - Aurora Cannabis Inc. ("Aurora")
(TSX: ACB) (OTCQB: ACBFF) (Frankfurt: 21P; WKN: A1C4WM) and PreveCeutical
Medical Inc. ("PreveCeutical") (CSE: PREV, OTCQB:
PRVCF, Frankfurt: 18H) today
announced the grant of three permits by the Australian Government,
Department of Health, for the importation of cannabis into
Australia for research purposes
(the "Permits"). The Permits were granted to the Pharmacy
Australia Centre of Excellence ("PACE") at the University of Queensland ("UQ") and allow
PACE to import shipments of cannabis plant material for research
purposes. Aurora, in turn, has received the required Canadian
permits to export the cannabis to PACE.
The cannabis will be shipped from Canada by Aurora and used for PreveCeutical's
soluble gel ("Sol-gel") drug delivery research program (the
"Program"), which is being conducted by PreveCeutical's
research partner UniQuest Pty Inc. and led by PreveCeutical's Chief
Research Officer, Dr. Harendra
Parekh. The Program aims to develop a system that will
increase the bioavailability of drugs by using a nose-to-brain
delivery system.
PreveCeutical intends to apply Sol-gel technology to
cannabinoids to develop therapies for relief from a range of
symptoms, including pain, inflammation, seizures and neurological
disorders (see news release dated April
24, 2017). The Permits will enable PreveCeutical to
test an array of cannabis strains for the development and
commercialisation of cannabinoid-based Sol-gels. The advantages of
Sol-gels over conventional liquid nasal sprays relate to longer
therapeutic effects, reduced dosage requirements, and reduced
irritation and other negative side effects.
In consideration of the shipment, Aurora has received certain
rights, including the option to either license, on a non-exclusive
basis, the technology for Canada
and Australia, or to opt for a
royalty arrangement on product sales, as well as to purchase shares
in PreveCeutical.
"We see an important market for cannabis-based products that are
more narrowly targeted at specific therapeutic areas but that are
higher value add and being involved with initiatives such as
PreveCeutical's is part of our strategy to gain access to these
types of products," said Terry
Booth, CEO of Aurora.
PreveCeutical's CEO and Chairman, Mr. Stephen Van Deventer added, "We are extremely
excited to receive the Permits, allowing us to further our Sol-gel
research program with the high quality cannabis products provided
by Aurora. The goal of the Program is to cultivate a range of
therapies that will benefit people with ailments such as epilepsy,
pain and inflammation, safely and economically."
About Aurora
Aurora's wholly-owned subsidiary, Aurora Cannabis Enterprises
Inc., is a licensed producer of medical cannabis pursuant to Health
Canada's Access to Cannabis for Medical Purposes Regulations
("ACMPR"). The Company operates a 55,200 square foot,
state-of-the-art production facility in Mountain View County,
Alberta, known as "Aurora
Mountain", and a second 40,000 square foot high-technology
production facility known as "Aurora Vie" in Pointe-Claire, Quebec on Montreal's West Island. In January 2018, Aurora's 800,000 square foot
flagship cultivation facility, Aurora Sky, located at the
Edmonton International Airport,
was licensed. Once at full capacity, Aurora Sky is expected to
produce over 100,000 kg per annum of cannabis. Aurora is
completing a fourth facility in Lachute,
Quebec utilizing its wholly owned subsidiary Aurora Larssen
Projects Ltd.
Aurora also owns Berlin-based
Pedanios, the leading wholesale importer, exporter, and distributor
of medical cannabis in the European Union. The Company owns 51% of
Aurora Nordic, which will be constructing a 1,000,000 square foot
hybrid greenhouse in Odense,
Denmark. The Company offers further differentiation through
its acquisition of BC Northern Lights Ltd. and Urban Cultivator
Inc., industry leaders, respectively, in the production and sale of
proprietary systems for the safe, efficient and high-yield indoor
cultivation of cannabis, and in state-of-the-art indoor gardening
appliances for the cultivation of organic microgreens, vegetables
and herbs in home and professional kitchens.
Aurora holds a 19.88% ownership interest in Liquor Stores N.A.,
who intend to develop a cannabis retail network in Western Canada. In addition, the Company holds
approximately 17.23% of the issued shares in leading extraction
technology company Radient Technologies Inc., and has a strategic
investment in Hempco Food and Fiber Inc., with options to increase
ownership stake to over 50%. Aurora is also the cornerstone
investor in two other licensed producers, with a 22.9% stake in
Cann Group Limited, the first Australian company licensed to
conduct research on and cultivate medical cannabis, and a 17.62%
stake in Canadian producer The Green Organic Dutchman Ltd., with
options to increase to majority ownership.
Aurora's Common Shares trade on the TSX under the symbol
"ACB".
About PreveCeutical
PreveCeutical is a health sciences company that develops
innovative options for preventive and curative therapies utilizing
organic and nature identical products.
PreveCeutical aims to be a leader in preventive health sciences
and currently has five research and development programs,
including: dual gene therapy for curative and prevention
therapies for diabetes and obesity; the Sol-gel Program; Nature
Identical™ peptides for treatment of various ailments;
non-addictive analgesic peptides as a replacement to the highly
addictive analgesics such as morphine, fentanyl and oxycodone; and
a therapeutic product for treating athletes who suffer from
concussions (mild traumatic brain injury).
PreveCeutical sells CELLB9®, an Immune System
Booster. CELLB9® is an oral solution containing
polarized and potentiated essential minerals extracted from a novel
peptide obtained from Caribbean Blue Scorpion venom. This
product is available on the Company's website.
For more information about PreveCeutical, please visit
https://preveceutical.com/, follow us on Twitter:
https://twitter.com/PreveCeuticals and Facebook:
www.facebook.com/PreveCeutical.
On behalf of the Boards of
Directors,
AURORA CANNABIS INC.
Terry Booth
CEO
PREVECEUTICAL MEDICAL INC.
Stephen Van Deventer
Chairman &
CEO
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.
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.
SOURCE Aurora Cannabis Inc.