ACBFF~"AUSTRALIA~"Aurora owns 22.9% of Australia's first licensed cannabis... company, Cann Group Limited ("Cann"). Now 12 months since its IPO, in which Aurora participated as cornerstone investor, Cann's share price has increased by approximately 900%, while the company has significantly expanded its capabilities and resources.
Cann, which has selected Aurora Larssen Projects ("ALPS") as its project consultancy for a high-technology, high efficiency production, GMP compliant facility, has secured a lease with Australia Pacific Airports for a five-hectare (12.4 acres) site which is part of the Melbourne Airport precinct. Project preparations, including environmental and regulatory approvals continue to progress well.
Genetics were successfully shipped in the form of plantlets from Aurora's Mountain facility and from plant tissue culture (PTC) from Anandia Laboratories Inc ("Anandia"), a wholly-owned subsidiary of Aurora. PTC is a form of plant propagation that has scale, consistency and space advantages over traditional clone-based propagation. The imported tissue culture, once released from quarantine to Cann, will allow Cann to establish a bank of various genetics and foster a plant breeding program. The successful international transport from Canada to Australia of PTC is an important validation in the development of this technology.
CanniMed is now integrated into Aurora's international sales and distribution channels and continues to develop distribution channels. In Australia, the Company has developed relationships with multiple companies, and is shipping cannabis oil products, both for wholesale and for clinical trials. These shipments are expected to show continued growth in line with market demand."
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