VANCOUVER, BRITISH COLUMBIA--(Marketwired - Nov. 5, 2015) - Aurora Cannabis Inc. ("Aurora" or the "Company") (CSE:ACB)(ACBFF)(21P.F)(WKN:A1C4WM) is pleased to announce that it has entered into a letter of intent ("LOI") for exclusive distribution rights to Mystabis, a revolutionary inhaler that provides pressurized metered doses of cannabis.
The terms of the arrangement allow Aurora sole Canadian distribution of the device. The ability to administer metered doses is something that both patients and the medical community have been waiting for eagerly. Without the use of any form of heat or combustion, this pressurized inhaler ("pMDI") delivers exact quantities of cannabinoids in a manner that provides rapid medicinal effects while preserving the entourage effects of the cannabinoids and terpenoids. Physicians will find the delivery mechanism to be very familiar and will appreciate the precision controlled per dose delivery of both the THC and CBD dominant formulations.
Terry Booth, CEO, commented, "We are very excited to have the opportunity to bring what we believe to be a game-changing medical device to Canadians. Aurora's scientists and our American partner scientists have conducted extensive research into the validity of this device and are confident that Health Canada, healthcare practitioners and patients are likely to recognize this easy-to-use delivery system as being amongst the safest, most consistent, and most reliable methods of effectively administering medical cannabis."
The proposed transaction is subject to the completion of satisfactory due diligence. The finalized terms will be released upon closing of the definitive agreement.
The Company is also pleased to provide an update of the status of its application to amend the license allowing for the sale of medical marijuana. The Company's Chief Brand Officer, Neil Belot, commented, "As the Marihuana for Medical Purposes Regulation ("MMPR") continues to evolve, Licensed Producers are being held to increasingly stringent standards by Health Canada, and Aurora welcomes the added scrutiny from the inspectors from Health Canada's Regions and Programs Bureau who have been visiting the facility over the past few weeks. Aurora has been in continual dialogue with Health Canada's Office of Medical Cannabis and is confident that these extra steps in the sales licencing process are in the best interest of Aurora shareholders, patients and the Office of Medical Cannabis. Our goal has always been to raise the bar for the medical cannabis industry in Canada and we are thrilled to be setting the new standards. Moving forward, we believe all Licenced Producers will be held to the same standards during their annual license renewal process and patients across the country will have an improved experience overall."
About Aurora Cannabis Inc.
Aurora's wholly-owned subsidiary, Aurora Cannabis Enterprises Inc., is a licensed producer of medical marijuana pursuant to the Marihuana for Medical Purposes Regulations and operates a 55,200 square foot expandable state-of-the-art production facility in Alberta, Canada. Aurora's wholly-owned subsidiary, Australis Capital Inc., seeks to be an active participant in the U.S. Cannabis market.
On behalf of the Board of Directors,
AURORA CANNABIS INC.
Terry Booth, CEO
Certain information contained in this news release, including information respecting the Company, the LOI, anticipated sales license approval, production capacity, production yields and other aspects of its anticipated future operations may be deemed "forward-looking". All statements in this news release, other than statements of historical fact, that address events or developments that Aurora expects to occur, are "forward-looking information". These statements relate to future events and reflect Aurora's current expectations or beliefs and are based on information currently available to Aurora. Such forward looking information are based on the Company's current operations, estimates, forecasts and projections and other factors and events that are not within the control of Aurora and there is no assurance they will prove to be correct. Forward-looking information is not a guarantee of future performance and actual results and future events could differ materially from those discussed in the forward-looking information. All of the forward-looking information contained in this news release is qualified by these cautionary statements. Although Aurora believes that the forward-looking information contained in this news release is based on reasonable assumptions, readers cannot be assured that actual results will be consistent with such statements. Accordingly, readers are cautioned against placing undue reliance on forward-looking information. Aurora expressly disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, events or otherwise, except in accordance with applicable securities laws.
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