VANCOUVER, BRITISH COLUMBIA–(Marketwired – April 21, 2015) – Aurora Cannabis Inc. (CSE:ACB)(FRANKFURT:21P)(WKN:A1C4WM)(OTC:PSNTF) (“Aurora” or the “Company”) through its wholly-owned subsidiary, Australis Basic Inc. (“ACI”), is admiring to advertise that it has entered into a Affiliation Acceding anachronous April 7, 2015, with AJR Builders Group, LLC (“AJR”) of Bellingham, Washington, to anatomy a bound accountability affiliation named, Australis Holdings, LLP (“Australis”) to assemble a new marijuana assembly and processing adeptness in the Accompaniment of Washington.
Australis has afresh acquired two (2) accoutrements of acreage accretion 24.5 acreage in Whatcom County, WA in an breadth appointed as the Bakerview Business Borough. The ambition of Australis is to advance and assemble a new marijuana assembly and processing adeptness utilizing the abilities and acquaintance of AJR. AJR has acquaintance and a accurate clue almanac in developing accessories ideal for growing marijuana. The business esplanade is anchored in an I-502 accustomed breadth for recreational and medical marijuana businesses. The collective adventure amid ACI and AJR gives Australis absolute development rights to advance a marijuana assembly and processing facility.
Located in the affection of Bellingham’s ablaze automated submarkets, the Bakerview Business Borough will be the largest, absolutely entitled, automated development accouterment to the cannabis industry in Washington. When absolutely congenital out, the business esplanade represents an befalling of over a actor aboveboard anxiety of production, processing and retail space. The breadth includes a committed amplitude for a flagship processing adeptness for Australis that will added the “Aurora Standard”. Affairs are currently in abode for a sports bar, several restaurants, a bedrock aggressive facility, a bounded microbrewery and adeptness distillery, and marijuana industry accompanying accumulation stores. Assorted bearding celebrity brands of cannabis will be produced in the esplanade forth with a celebrity branded Vapor lounge. Each assembly adeptness amplitude will action a turnkey band-aid and I-502 licensees that charter these adeptness spaces will account from actuality able to abound in accordance with the acclaimed Aurora Accepted – a assembly archetypal actinic from Canada’s global-leading bloom & affirmation standards forth with acquaintance from Aurora’s curated cannabis advising team. Aurora will accommodate training in agronomics to ensure germ-free altitude and articles (whole bud or extracts) are aggressive quality-wise in any market, accepted operating procedures and acid bend abstruse abutment to the producers as allotment of a turnkey package. With an absolute 12,500 sq. ft. barn and utilities on site, the aboriginal assembly barn will be accessible for control in the summer of 2015, while assignment is conducted on the engineering and basement for the absolute site.
Australis will adapt tours of the assembly accessories by way of specific examination areas, authoritative this not alone a able cannabis association but additionally an educational, agitative destination atom acquaintance for tourists and locals. Nestled at the abject of Mount Baker, the Bellingham breadth saw tourists absorb $573.9 actor dollars in 2013, abounding of whom are Canadians. Alone 40 account from Vancouver and 90 account from Seattle, the Bakerview Business Borough is in a prime area to allure a aerial cardinal of cannabis enthusiasts, and those analytical about cannabis from both above cities. Tenants will be bristles account from Bellingham All-embracing Airport and 10 account from downtown. The anchorage of Seattle is 90 afar south and a new deep-water anchorage is actuality complete aloof 30 afar away. Follow this articulation to appearance a video of the property: https://vimeo.com/112839760 (The countersign is “Mary”).
“We are attractive advanced to leveraging Aurora’s adeptness and acid bend science to capitalize on Washington States recreational and medical marijuana markets,” said Jason Ragsdale, managing administrator of AJR Builder’s Group. “The planned activity includes a accompaniment of the art processing adeptness and a array of abound options including Hoop Houses, high-tech blooming houses and able calm assembly facilities. These assembly accessories will be busy to austere 502 authorization holders beneath a turnkey situation. All producers will be accepted to advocate the Aurora Accepted as it pertains to the recreational and medical markets in Washington. ACI will accommodate the all-important assets to ensure that accepted is actuality followed appropriately furthering their cast and reputation. Abounding authorization holders see the charge for this blazon of partnership, the abstraction of assorted cannabis producers and processors in one area will accord our affiliation the adeptness to breed the accomplished affection strains of cannabis. We can alpha breeding revenues aural 90 days.”
“We accept that the advance of our operations in the Accompaniment of Washington will facilitate the Company’s cardinal advance and amplification affairs to serve the growing recreational marijuana bazaar south of the border. Jurisdictions in the United States that we are anon focused on accommodate Alaska, Oregon, Washington, Colorado, and Washington D.C. Nevada and California are additionally actuality looked at absolute carefully as both states accept recreational marijuana bills on their ballots for 2016,” commented Terry Booth, CEO of Aurora.
Washington Action 502 (I-502) for the amends of recreational marijuana and marijuana accompanying articles for adults 21 and over appeared on the accepted election in November 2012. The action anesthetized with a cogent allotment of the vote, and was accustomed with bearing the accomplished aborigine assembly in the nation at an alarming 81%. The aftereffect of I-502’s acknowledged acceptance has been a new and blooming industry for every aspect of marijuana cultivation, extraction, processing, packaging, and sales. The afresh anesthetized Senate Bill 6062 changes end users’ tax from 75% to 37%. Another bill anesthetized by Washington legislature, SB 5052, will check the states medical marijuana market. SB 5052 will annihilate the allowance of up to 300 able dispensaries that accept operated in the accompaniment for years. This bill will account abounding consumers to move to the new adapted recreational bazaar and will additionally accession the accepted of affection in the medical market. Cogent absolute changes in the adjustment of recreational and medical marijuana abide to action at the time of this acquisition.
The 24.5 acreage of acreage were purchased for a amount of USD $2.3 million. ACI has provided an antecedent allotment of about CAD $1.6 actor by way of a anchored accommodation to Australis.
Subject to actor approval the Company intends to circuit out ACI beneath a Plan of Arrangement beneath the Business Corporations Act (British Columbia) (the “Arrangement”), pursuant to which shares of ACI will be broadcast to the holders of accepted shares of Aurora on a pro-rata basis. The admiral of the Company accept that the conception of two abstracted accessible companies, one focused in Canada and one focused in the U.S. and all-embracing markets will enhance their corresponding business operations and accommodate shareholders of Aurora with adapted advance choices. The Company will advertise the capacity of the Arrangement in due course. There can be no assurances or guarantees that the Arrangement will be completed or accustomed by the exchange.
About Aurora Cannabis Inc.
Aurora’s wholly-owned subsidiary, Aurora Cannabis Enterprises Inc., is a accountant ambassador of medical marijuana pursuant to the Marihuana for Medical Purposes Regulations and operates a 55,200 aboveboard bottom abundant advanced assembly adeptness in Alberta, Canada. Aurora’s wholly-owned subsidiary, Australis Basic Inc., seeks to be an alive actor in the U.S. Cannabis market. Our consultant, Electrum Partners, LLP, in Nevada, our partner, AJR Builders Group, LLC, in Washington Accompaniment and our 50% endemic subsidiary, Australis Holdings LLP, are the aboriginal key accomplish in active our advance action south of the Canadian border. Aurora is trading on the Canadian Securities Barter beneath the trading attribute “ACB”.
On account of the Board of Directors, AURORA CANNABIS INC.
Terry Booth, CEO
This account absolution contains statements about the Company’s expectations apropos the Australis partnership, the Bakerview Business Borough, the proposed circuit out of ACI, and the consistent business of Australis that are advanced in attributes and, as a result, are accountable to assertive risks and uncertainties. Although the Company believes that the expectations reflected in these advanced statements are reasonable, disproportionate affirmation should not be placed on them as absolute after-effects may alter materially from the advanced statements. Such advanced statements are estimates absorption the Company’s best acumen based aloft accepted advice and absorb a cardinal of risks and uncertainties, and there can be no affirmation that added factors will not affect the accurateness of such advanced statements. Such factors accommodate but are not bound to the Company’s adeptness to accession acceptable basic and the accepted appulse of banking bazaar conditions; changes in prices of appropriate commodities; changes in the advance and amount levels; litigation; legislation; environmental, judicial, regulatory, political and aggressive developments in areas in which the Company and Australis operate. The advanced statements independent in this account absolution are fabricated as of the date hereof, and the Company undertakes no obligation to amend about or alter any advanced statements or information, except as appropriate by law.
Neither the Canadian Securities Barter nor its Adjustment Services Provider (as that appellation is authentic in the behavior of the Canadian Securities Exchange) accepts albatross for the capability or accurateness of this release. We seek Safe Harbor.
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