Full Press Release Details
Aurora Cannabis and Radient Technologies
Announce First Commercial Delivery of Cannabis Derivatives
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
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
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."
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
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
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.
Aurora Cannabis Inc.
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.
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For further information: For Aurora: Media: Heather MacGregor,
+1.416.509.5416, heather.macgregor@auroramj.com; For Investors: Marc Lakmaaker, +1.647.269.5523, marc.lakmaaker@auroramj.com; Rob
Kelly, +1.647.331.7228, rob.kelly@auroramj.com; U.S. Investors: Phil Carlson / Elizabeth Barker, KCSA Strategic Communications,
Phone: (212) 896-1233 / (212) 896-1203, Email: pcarlson@kcsa.com / ebarker@kcsa.com; For Radient: Media: Caitlin Cheadle, ccheadle@radientinc.com;
For Investors: William Wasson, wwasson@radientinc.com