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Ready Aurora NR today and keeep in mind

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lithiumjr   Friday, 05/26/17 10:01:43 PM
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Ready Aurora NR today and keeep in mind we are the exclusive extraction company...RDDTF will not be around by year end.

AURORA ACQUIRES GERMAN MEDICAL CANNABIS MARKET LEADER PEDANIOS GMBH

Aurora Cannabis Inc. has acquired Pedanios GmbH, a leading wholesale importer, exporter and distributor of medical cannabis in the European Union.

Pedanios, a federally licensed medical and narcotic wholesale and GMP-(good manufacturing practices)-inspected narcotic import company, holds all relevant licences and permits, and has been successfully importing, exporting and distributing cannabis for medical purposes since December, 2015, into and within the EU.

In January, 2017, German parliamentarians unanimously passed a new medical cannabis law, which appointed physicians as gatekeepers to access, established pharmacies as the point of sale and introduced full insurance cost coverage for medical cannabis patients across the country. In March, 2017, when the new law came into force, Pedanios's monthly sales immediately doubled, and growth continues to accelerate as Germany's 80 million citizens begin to benefit from the improvements to patient access guaranteed by the new law.

Pedanios wholesales medical cannabis to a growing number of pharmacies -- over 750 as of today -- and offers the widest selection of products of any distributor in the German market, including 10 of the 14 products approved by the Bundesopiumstelle, a body of the German federal health ministry. All of Pedanios's existing supply contracts will remain in place.

"This is a transformational acquisition for Aurora and a key step in our aggressive international expansion strategy," said Neil Belot, Aurora's chief global business development officer. "The transaction will ensure ongoing and increasing high-quality product is available to fuel Pedanios's rapid growth, while positioning Aurora and Pedanios to seize upon opportunities together in Germany and the EU's emerging cannabis industry."

"Pedanios, with first-mover success in the EU, has proven itself as one of the world's most trusted and scalable importers, exporters and distributors of wholesale medical cannabis. Patients, physicians and pharmacies across the EU recognize the Pedanios brand as the trusted source for high-quality GMP-certified medical cannabis," said Terry Booth, chief executive officer of Aurora. "The Pedanios team share Aurora's vision, our high standards and our intentions to play a leading role in shaping the future of the global cannabis industry. In addition, because the average market prices are higher in Germany than in Canada, we expect German sales to positively impact our average sales price per gram."

"Canada and Germany are among the world leaders in medical cannabis, and as trailblazers in our respective countries, Pedanios and Aurora are well positioned to continue to drive innovation, expand our distribution network and capture significant global market share," said Patrick Hoffmann, Pedanios's co-founder and executive partner. "We look forward to the synergies that our combined companies will deliver to shareholders and stakeholders alike."

Under the terms of the purchase agreement, dated May 18, 2017, Aurora will pay a consideration to holders of Class B securities of Pedanios approximately 3,421,756 common shares of Aurora, priced at $2.14 per share. In addition, a total consideration of approximately $13,565,000 in cash and common shares is payable to the holders of Class A common shares of Pedanios, which are held by the two founders/managing directors of Pedanios who will continue to run the company. The cash portion for the two founders is $3.02-million, and the share portion is 4,895,026 common shares of Aurora, priced at $2.14 per share, of which 17 per cent will become free trading four months after closing, with the balance becoming unrestricted in equal instalments on a quarterly basis over 27 months, commencing in February, 2018. Total shares of Aurora being issued over three years represent less than 2 per cent of total shares outstanding. Aurora's cash balance as of May 15, 2017, was $165-million. Values herein have been calculated based on an exchange rate of 1.51 Canadian dollars to one euro.

Pedanios, over the last 90 days, has achieved cash-flow-positive operations, with gross revenues of approximately $1.15-million and costs of approximately $1-million. Revenues for May, up to and including May 26, 2017, were approximately $500,000, reflecting a 410-per-cent increase in the daily sales pace as compared with average for the eight months prior to the introduction of the new law, and an increase over the April and March, 2017, averages of 70 per cent and 108 per cent, respectively.

About Aurora Cannabis Inc.


Aurora's wholly owned subsidiary, Aurora Cannabis Enterprises Inc., is a licensed producer of medical cannabis pursuant to Health Canada's access to cannabis for medical purposes regulations (ACMPR). The company operates a 55,200-square-foot, state-of-the-art production facility in Mountain View county, Alberta, and is currently constructing a second 800,000-square-foot production facility, known as Aurora Sky, at the Edmonton International Airport. Also, it has acquired and is undertaking completion of a third 40,000-square-foot production facility in Pointe-Claire, Que., on Montreal's West Island.


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