State-of-the-art facility readying first delivery
of medical grade cannabis for German patients
EDMONTON, AB, May 18, 2022
/PRNewswire/ - Aurora Cannabis Inc. (the "Company" or
"Aurora") (NASDAQ: ACB) (TSX: ACB), the Canadian company
defining the future of cannabinoids worldwide, announced
today the company has received EU-GMP certification for its
state-of-the-art medical cannabis production facility in
Germany. As a leading manufacturer
of medical cannabis worldwide, achieving EU-GMP certification of
the company's first German manufacturing site marks a significant
milestone in the fulfillment of an awarded tender by the German
Federal Institute for Drugs and Medical Devices (BfArM). Aurora is
the distinct market leader in the German flower segment and will
now leverage receiving the world's highest quality standard to
produce and distribute premium medical cannabis in Germany.
The new state-of-the-art production facility in Leuna,
Saxony-Anhalt, Germany adds to the
company's pan-European network of EU-GMP facilities supplying
premium, high-quality cannabis flower and extracts for medical use
by patients across existing and expanding markets. Germany's medical cannabis market currently
serves approximately 100,000 patients, representing only 0.1% of
the population. In mature medical cannabis markets like
Canada, market penetration is
upwards of 1%, therefore the German market has significant
potential for growth.
"With the EU-GMP certification of our first German site, we once
again demonstrate Aurora's excellence and leadership in
establishing the necessary infrastructure to compete in the global
cannabis market," said Miguel
Martin, CEO of Aurora Cannabis. "As a leading provider of
medical cannabis in Germany and
several other European markets, we are eager to accelerate patient
access to high-quality, reliable cannabis produced in accordance
with the most stringent criteria. Our first shipment from our world
class Leuna facility will deliver on our commitment to the German
regulatory authority and expanding patient base, a significant step
in our ongoing commitment to international market growth."
Aurora was awarded a tender/contract in 2019 by the German
Federal Institute for Drugs and Medical Devices (BfArM) for the
annual production of 1,000 kg of high-quality medical cannabis
flower over a period of four years. Despite numerous challenges due
to ongoing pandemic-related restrictions and international supply
chain bottlenecks, the construction of Aurora Leuna, a nearly 3,600
sq. metre production site is complete, has received its EU-GMP
certification and is preparing for the inaugural shipment. The
first shipment from Aurora Leuna to German pharmacies is expected
via the state's cannabis agency later this month.
Martin continued "As a leading provider of cannabis flower and
extracts in Germany, we are
excited by the possibility of growth in the market. Our investment
in domestic production with the highest quality standards will help
advance patient access to high-quality cannabis. I congratulate our
team in Germany on achieving this
important milestone for our Leuna facility and the commencement of
local production in this critical market."
As a leading global cannabis company with a footprint on four
continents, sales into 12 countries, and an expansive international
production network, Aurora celebrates this important milestone in
the company's pursuit of enabling access to high-quality medical
cannabis to patients worldwide.
About Aurora
Aurora is a global leader in the cannabis industry, serving both
the medical and consumer markets. Headquartered in Edmonton, Alberta, Aurora is a pioneer in
global cannabis, dedicated to helping people improve their lives.
The Company's adult-use brand portfolio includes Aurora Drift, San
Rafael '71, Daily Special, and Whistler, as well as CBD brands,
Reliva and KG7. Medical cannabis brands include
MedReleaf, CanniMed, Aurora, Whistler Medical Marijuana Corp., and
Pedanios. Driven by science and innovation, and with a focus on
high-quality cannabis products, Aurora's brands continue to break
through as industry leaders in the medical, performance, wellness
and adult recreational markets wherever they are launched. Learn
more at www.auroramj.com and follow us on Twitter and
LinkedIn.
Aurora's common shares trade on the NASDAQ and TSX under the
symbol "ACB" and is a constituent of the S&P/TSX Composite
Index.
Forward-looking Information
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. Forward-looking statements made in this news
release include statements regarding the production and
distribution of premium medical cannabis in Germany, timing for the first shipment of
cannabis from the Aurora Leuna facility to German pharmacies,
competitive advantages including those related to EU GMP
certification, and the Company's execution against its commitment
to the German Federal Institute for Drugs and Medical Devices
(BfArM).
.
These forward-looking statements are only predictions. Forward
looking information or statements contained in this news release
have been developed based on assumptions management considers to be
reasonable. Material factors or assumptions involved in
developing forward-looking statements include, without limitation,
publicly available information from governmental sources as well as
from market research and industry analysis and on assumptions based
on data and knowledge of this industry which the Company believes
to be reasonable. 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. These risks
include, but are not limited to, the ability to retain key
personnel, the ability to continue investing in infrastructure to
support growth, the ability to obtain financing on acceptable
terms, the continued quality of our products, customer experience
and retention, the development of third party government and
non-government consumer sales channels, management's
estimates of consumer demand in Canada and in jurisdictions where the Company
exports, expectations of future results and expenses, the risk of
successful integration of acquired business and operations,
management's estimation that SG&A will grow only in proportion
of revenue growth, the ability to expand and maintain distribution
capabilities, the impact of competition, the general impact of
financial market conditions, the yield from cannabis growing
operations, product demand, changes in prices of required
commodities, competition, and the possibility for changes in laws,
rules, and regulations in the industry, epidemics, pandemics or
other public health crises, including the current outbreak of
COVID-19, and other risks, uncertainties and factors set out under
the heading "Risk Factors" in the Company's annual information form
dated September 27, 2021 (the "AIF")
and filed with Canadian securities regulators available on the
Company's issuer profile on SEDAR at www.sedar.com and filed
with and available on the SEC's website at www.sec.gov. 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 law.
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SOURCE Aurora Cannabis Inc.