Proactiveinvestors United Kingdom Aurora Cannabis Inc https://www.proactiveinvestors.co.uk Proactiveinvestors United Kingdom Aurora Cannabis Inc RSS feed en Sun, 21 Jul 2019 16:34:43 +0100 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - Aurora wins public tender to produce medical cannabis in Germany ]]> https://www.proactiveinvestors.co.uk/companies/news/218063/aurora-wins-public-tender-to-produce-medical-cannabis-in-germany-218063.html Aurora Cannabis Inc (TSE:ACB) (NYSE:ACB) is heading to Germany. The Canadian cannabis company was one of the three companies selected in a public tender by the German Federal Institute for Drugs and Medical Devices to cultivate and distribute medical cannabis in Germany.

Shares jumped 3.7% before the bell on the NYSE to US$9.29.

Of the 79 companies that submitted concept plans, Aurora received the highest rating. The Edmonton, Alberta-based company was awarded five of the 13 available lots with a minimum total supply of 4,000kg.

READ: Canada’s Aurora eyes raising $750 million for global expansion

The facility, located near Leipzig, will produce cannabis to be sold wholesale to pharmacies and the German government. Aurora has been exporting dried cannabis flower to Germany since 2017.

"We are very proud to have been selected as one of only three companies by the German government, which is a great achievement by our team," Chief Global Business Development Officer Neil Belot said. "Having the highest rated concept is a strong validation of the Aurora Standard cultivation philosophy, as well as of our track record in the delivery of safe and high-quality medical cannabis products to the German system.”

The deal will become official April 17 or later.

Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com

Follow him on Twitter @andrew_kessel

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Fri, 05 Apr 2019 08:56:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/218063/aurora-wins-public-tender-to-produce-medical-cannabis-in-germany-218063.html
<![CDATA[News - Aurora Cannabis makes first shipment of medical cannabis to the UK ]]> https://www.proactiveinvestors.co.uk/companies/news/214377/aurora-cannabis-makes-first-shipment-of-medical-cannabis-to-the-uk-214377.html Aurora Cannabis Inc (TSE:ACB) (NYSE:ACB) announced Monday that it has completed its first commercial export of medical cannabis oil to the United Kingdom from a certified pharmacy. 

The Canadian company, which is currently enhancing its UK operations to ensure that patients there have access to a range of Aurora cannabis-based medicines, said the product has been successfully dispensed from Canada under a new legal framework that came into effect Nov. 1, 2018.

"Being one of the first Canadian companies to commercially supply cannabis-based medicines into the UK under the new legal framework reflects Aurora's ability to do business in international markets that have complex and evolving regulatory systems," said Neil Belot, chief global business development officer, in a company statement. "Aurora continues to grow its international footprint, which now includes the UK, a country with a population of approximately 66 million people."

READ: Aurora Cannabis's extraction partner Radient Technologies wins key license from Health Canada

Authorities in the UK granted regulatory approval of the new framework last year.

Under the new UK framework, specialist doctors can legally issue prescriptions for cannabis-based medicines when they agree that their patients could benefit from this treatment, according to the company's statement.  

"We are thrilled to have successfully navigated the complexities of the UK's new regulatory framework to be able to supply high quality, pharmaceutical grade cannabis-based medicines into the UK from one of our EU-GMP certified facilities in Canada," said Dr. Shane Morris, senior vice president of product development and regulatory affairs for Aurora.

Headquartered in Edmonton, Alberta, Aurora is one of the world's largest cannabis producers and has a funded capacity in excess of 500,000 kilograms a year and sales and operations in 22 countries across five continents. It has 15 wholly owned subsidiary companies.

Aurora is a vertically integrated company, meaning it handles all aspects of cannabis production, from facility engineering and design to cannabis breeding and genetics research to home cultivation, wholesale and retail distribution.

To facilitate its growth, the company has invested in and established strategic partnerships with a range of leading innovators, including: Radient Technologies Inc. CVEV:RTI), Hempco Food and Fiber Inc. (CVE:HEMP), and  CTT Pharmaceuticals (OTMKTSLCTTH).

Shares of Aurora Cannabis Inc (NYSE:ACB) (TSE:ABC) dropped Monday on news of its first UK export, to $7.21 per share in the US, down from Friday's market close of $7.54 per share, a decrease of 3.4%.

--Written by Suzette Parmley

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Mon, 11 Feb 2019 10:15:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/214377/aurora-cannabis-makes-first-shipment-of-medical-cannabis-to-the-uk-214377.html
<![CDATA[News - Aurora Cannabis ships medical cannabis to the Czech Republic ]]> https://www.proactiveinvestors.co.uk/companies/news/210058/aurora-cannabis-ships-medical-cannabis-to-the-czech-republic-210058.html Aurora Cannabis Inc (NYSE:ACB) (TSX:ACB) announced Tuesday that it had secured an export permit and completed its first shipment of medical cannabis to the Czech Republic.

The first order was shipped to Czech Medical Herbs s.r.o., a Czech drug wholesaler, which will supply pharmacies across the country.

"The Czech Republic represents the 21st country in which we operate, and exemplifies how we are rapidly expanding our global footprint in the medical cannabis space,” said Neil Belot, chief global business development officer at Aurora Cannabis. “We look forward to building a long-term relationship with our customer, CMH, and supplying patients in the Czech Republic with our high-quality cannabis products."

READ: Aurora Cannabis CEO slams cannabis rollout in Ontario and British Columbia

Under the Czech medical program, patients are allowed up to 180 grams of dry flower product a month, as prescribed by specialized doctors. The medical program was launched in 2013.

The Czech Republic and its capital Prague are often called the Amsterdam of the East — the city is known for its high-quality cannabis.

Edmonton, Canada-based Aurora Cannabis produces and distributes medical cannabis products.

Aurora's US-listed shares were down 2.6% in morning trade on a broad market pullback.

 

Contact Uttara Choudhury at uttara@proactiveinvestors.com

Follow her on Twitter: @UttaraProactive 

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Tue, 27 Nov 2018 11:39:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/210058/aurora-cannabis-ships-medical-cannabis-to-the-czech-republic-210058.html
<![CDATA[News - Aurora Cannabis surges on medical marijuana producer's license from Health Canada ]]> https://www.proactiveinvestors.co.uk/companies/news/105597/aurora-cannabis-surges-on-medical-marijuana-producers-license-from-health-canada-59995.html Aurora Cannabis (CSE:ACB) (OTC:PSNTF) shares jumped 22 percent after it was granted a federal license to produce medical marijuana under Health Canada's MMPR regime instituted last year. 

The news comes after peer Bedrocan Cannabis (CVE:BED) announced it received its second producer's license for medical marijuana in Canada late Thursday.

The company said the license will allow it to begin production of medical cannabis in its expandable 55,200 square foot facility located on 160 acres in Mountain View County, Alberta.

The facility is one of the largest of its kind in Canada, according to Aurora, and is capable of growing up to 8,000 kilograms of marijuana per year. Aurora says it has aggressive expansion plans, and sees the site as an opportunity to identify optimal production strategies to be put into place in future locations across Canada.

"With the team we have assembled and our first facility now complete, I believe we have a very bright future in this industry," said chief executive officer Terry Booth. "We look forward to working with Health Canada focusing on compliance with the high quality standards that the supply of Medical Cannabis requires."

The company is the first to obtain an MMPR producer's license in Alberta, where the total cost of the facility has been estimated at $10.5 million.

Canada's new MMPR (Marijuana for Medical Purposes Regulations) program was developed to replace the Medical Marijuana Access Regulations (MMAR) license regime, which had proven difficult to monitor owing to the many thousands of small-scale growers it covered. The idea behind MMPR, which was introduced last April, was to put licensed growing into the hands of a much smaller number of large commercial operations.

"Being nestled in the foothills of the Rocky Mountains not only allows for a never ending supply of clean, pure mountain fed water but also close proximity to Olds College. Olds College is the largest agricultural College in Alberta and its graduates are approximately 25 percent of agricultural diploma recipients in Canada," the company said in its statement released earlier Friday.

Shares climbed 22 percent, or 11 cents, to 61 Canadian cents on the Canadian Securities Exchange on Friday.

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Fri, 20 Feb 2015 14:33:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/105597/aurora-cannabis-surges-on-medical-marijuana-producers-license-from-health-canada-59995.html