Aurora Cannabis Provides Operational Update
Press Release: June 9, 2016, 7:00 AM
Surpasses 3,500 Registered Patients, Records $1 Million in Revenues Year-to-Date
VANCOUVER, June 9, 2016 /CNW/ - Aurora Cannabis Inc. (CSE: ACB) (FRANKFURT: 21P) (WKN: A1C4WM) (OTCQB: ACBFF) ("Aurora" or the "Company") is pleased to provide the following operational update.
Aurora's rapid pace of patient registration continues, surpassing 3,500 active registered patients as of June 7, 2016, just over five months after commencement of product sales on January 5, 2016. Management believes this is the fastest rate of organic growth any Licensed Producer has achieved to date.
As of June 6, 2016, Aurora had recorded $1 million in revenues for the year-to-date, based on 168,000 grams of cannabis sold, with sales of 69,000 grams in May alone. The year-to-date figure represents the Company's first $1 million in revenues from sales of medical cannabis to patients, since beginning product sales. Monthly revenues are accelerating as additional patients are registered, and customer retention remains in excess of 90%.
Production Scaling Up Smoothly
The Company's cannabis production is scaling up smoothly and efficiently. As of June 2016, all 10 flower (growing) rooms will be fully utilized, with sequenced harvests planned for the largest number of cultivars Aurora has had in simultaneous mass production. In addition, the Company's cultivation team has achieved a near-100% cloning success rate, which is considered a remarkable achievement for a large commercial-scale cannabis grower.
"I am very proud of the operational excellence our growing team is consistently achieving, resulting in our commercial production scaling up as projected," said Terry Booth, CEO. "We have been determined from the beginning to be recognized as a driver and a leader in this industry – for our science, innovation, professionalism and execution – and we are now seeing that determination validated with tangible financial results."
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 Mountain View County, Alberta, Canada. Aurora trades on the Canadian Securities Exchange under the symbol "ACB".
On behalf of the Board of Directors, AURORA CANNABIS INC.
Terry Booth, CEO
This news release contains statements about the Company's expectations regarding production capacity, production yields and other aspects of its anticipated future operations that are forward-looking in nature and, as a result, are subject to certain risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, undue reliance should not be placed on them as actual results may differ materially from the forward-looking statements. Such forward-looking statements are estimates reflecting the Company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such forward-looking statements. Such factors include but are not limited to the Company's ability to obtain the necessary financing and the general impact of financial market conditions, the yield from marijuana growing operations, product demand, changes in prices of required commodities, competition, government regulations and other risks set out in the Company's management's discussion and analysis filed on SEDAR. The forward-looking statements contained in this news release are made as of the date hereof, and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, except as required by law.
We seek Safe Harbour.
SOURCE Aurora Cannabis Inc.
For further information: Cam Battley, Senior VP Communications and Medical Affairs, +1.905.864.5525, firstname.lastname@example.org, www.auroramj.com