TSX: ACB
TSXV: RTI
VANCOUVER and EDMONTON,
Oct. 23, 2017 /CNW/ - Aurora Cannabis Inc. ("Aurora") (TSX:
ACB) and Radient Technologies Inc. ("Radient") (TSXV: RTI)
(collectively "the Corporations"), today announced that further to
the companies' joint press release of June
5, 2017, both parties have agreed to a 17-day extension,
through November 6, 2017, on the
140-day term under which Aurora was granted certain exclusive
rights to negotiate with Radient in respect to the acquisition of
certain exclusive rights to use Radient's technology and processes,
as further set out in the original memorandum of understanding,
dated December 13, 2016. Good
progress has been made towards finalizing the agreement, and both
parties have agreed that the inclusion in the negotiations of
certain additional items warrants an extension to the original
140-day term.
About Aurora
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"). Aurora operates a 55,200 square foot, state-of-the-art
production facility in Mountain View County, Alberta, known as "Aurora Mountain", is
currently constructing a second 800,000 square foot production
facility, known as "Aurora Sky", at the Edmonton International Airport, and has
acquired, and is undertaking completion of a third 40,000 square
foot production facility in Pointe-Claire, Quebec, on Montreal's West Island.
In addition, Aurora holds approximately 9.6% of the issued
shares (12.9% on a fully-diluted basis) in leading extraction
technology company Radient Technologies Inc., based in Edmonton, and is in the process of completing
an investment in Edmonton-based
Hempco Food and Fiber for an ownership stake of up to 50.1%.
Furthermore, Aurora is the cornerstone investor with a 19.9% stake
in Cann Group Limited, the first Australian company licensed to
conduct research on and cultivate medical cannabis. Aurora also
owns Pedanios, a leading wholesale importer, exporter, and
distributor of medical cannabis in the European Union, based in
Germany. Aurora offers further
differentiation through its acquisition of BC Northern Lights Ltd.
and Urban Cultivator Inc., industry leaders, respectively, in the
production and sale of proprietary systems for the safe, efficient
and high-yield indoor cultivation of cannabis, and in
state-of-the-art indoor gardening appliances for the cultivation of
organic microgreens, vegetables and herbs in home and professional
kitchens. Aurora's common shares trade on the TSX under the symbol
"ACB". Visit www.auroramj.com for more information.
About Radient
Radient extracts natural compounds from a range of biological
materials using its proprietary MAPTM natural product
extraction technology platform which provides superior customer
outcomes in terms of ingredient purity, yield, and cost. From its
initial 20,000 square foot manufacturing plant in Edmonton, Alberta, Radient serves market
leaders in industries that include pharmaceutical, food, beverage,
natural health, personal care and biofuel markets. Visit
www.radientinc.com for more information.
On behalf of the Board of Directors,
RADIENT TECHNOLOGIES INC.
Denis Taschuk,
CEO
AURORA CANNABIS
INC.
Terry Booth, CEO
Information set forth in this news release contains
forward-looking information and statements that are based on
assumptions as of the date of this news release. These statements
reflect management's current estimates, beliefs, intentions and
expectations. They are not guarantees of future performance. The
terms and phrases "goal", "commitment", "guidance", "expects",
"would", "will", "continuing", "drive", "believes", "indicate",
"look forward", "grow", "outlook", "forecasts", "intend", and
similar terms and phrases are intended to identify these
forward-looking statements. The Corporations caution that all
forward looking information and statements are inherently uncertain
and that actual performance may be affected by a number of material
factors, many of which are beyond the Corporations' control. Such
factors include, among other things: risks and uncertainties
relating to the Corporations' ability to finalize the terms of the
proposed agreement. Accordingly, actual and future events,
conditions and results may differ materially from the estimates,
beliefs, intentions and expectations expressed or implied in the
forward looking information. Except as required under applicable
securities legislation, the Corporations undertake no obligation to
publicly update or revise forward-looking information.
Neither TSX nor TSX Venture Exchange nor their Regulation
Services Providers (as that term is defined in the policies of the
respective Exchanges) accepts responsibility for the adequacy or
accuracy of this release.
SOURCE Radient Technologies Inc.