New Seasonal Offerings Slated for November
Release
EDMONTON, AB, Oct. 28, 2021 /PRNewswire/ - Aurora Cannabis Inc.
(the "Company" or "Aurora") (NASDAQ: ACB) (TSX: ACB), the Canadian
company defining the future of cannabinoids worldwide, today
announced a manufacturing agreement with The Valens Company Inc.
("The Valens Company" or "Valens") a leading manufacturer of
cannabis products, to manufacture a new seasonal offering in the
mint category.
Launching under Drift Turbo, the Company's mainstream
adult-use recreational brand, the new Canna Cane Mints are a
two-piece hard peppermint candy containing 10mg THC (5mg THC per
piece). This is the first product offering under the manufacturing
arrangement, which is expected to expand in the coming months.
"We know that Canadian cannabis consumers are looking for
novelty and variety, and seasonal offerings are a key approach to
strategically expanding our portfolio of adult-use products," said
Miguel Martin, CEO, Aurora Cannabis. "Valens' exceptional
manufacturing capabilities complement our product line up this
upcoming holiday season. Our strategic relationship is designed to
unlock efficiencies as we seek to bring innovation to market with
speed and differentiation that connects with consumers."
The cannabis edibles will be manufactured using
SōRSE™ by Valens emulsion technology, a patented,
in-house emulsion technology that transforms cannabis oils into
water-soluble forms to infuse foods, liquids and topicals without
the taste or smell of cannabis.
Tyler Robson, Chief Executive
Officer, Co-Founder and Chair of The Valens Company, said, "This is
an important milestone for the Canadian cannabis market as two of
the largest companies in this sector come together. We have admired
Aurora for their leadership and continuing to elevate and challenge
industry standards. Our companies share the same ethos when it
comes to bringing the highest quality products to market and
offering a premium experience to consumers."
Aurora's upcoming holiday portfolio will also include a new 510
vape cartridge launching under the Company's adult-use recreational
brand, Daily Special. The new Cranberry Sauce 1g 510 Vape is a
high-THC distillate vape and is infused with the classic sweet-tart
flavour of festive cranberries. Both the Canna Cane Mints and
Cranberry Sauce Vape are limited-time products and will be
available for purchase in British
Columbia and Alberta
beginning in November. The Cranberry Sauce 1g 510 Vape will also be
available for purchase in the Maritimes.
About Aurora:
Aurora is a global leader in the
cannabis industry, serving both the medical and consumer
markets. Headquartered in Edmonton,
Alberta, Aurora is a pioneer in global cannabis dedicated to
helping people improve their lives. The Company's
brand portfolio includes Aurora, Aurora Drift, San
Rafael '71, Daily
Special, MedReleaf, CanniMed, Whistler, Reliva and KG7
CBD. Driven by science and innovation, and with a focus on
high-quality cannabis products, Aurora's brands continue to break
through as industry leaders in the medical, performance,
wellness and adult recreational markets
wherever they are launched. Learn more
at www.auroramj.com and follow us
on Twitter and LinkedIn.
Aurora's common shares trade on the TSX
and NASDAQ under the symbol "ACB" and is a constituent of
the S&P/TSX Composite Index.
About The Valens Company:
The Valens Company is a
leading cannabis consumer products company, with significant
expertise in manufacturing cannabinoid based products and a mission
to bring the benefits of cannabis to the world. Valens provides
proprietary cannabis processing services and best-in-class product
development, manufacturing, and commercialization of cannabis
consumer packaged goods. Valens' high-quality products are
formulated for the recreational, health and wellness, and medical
consumer segments and are offered across all cannabis product
categories, with a focus on quality and product innovation. Valens
also manufactures, distributes, and sells a wide range of CBD
products in the United States
through its subsidiary Green Roads, and distributes medicinal
cannabis products to international markets through its subsidiary
Valens Australia. In partnership with brand houses, consumer
packaged goods companies and licensed cannabis producers around the
globe, Valens continues to grow its diverse product portfolio in
alignment with evolving cannabis consumer preferences. Through
Valens Labs, Valens is setting the
standard in cannabis testing and research and development with
Canada's only ISO17025 accredited
analytical services lab, named The Centre of Excellence in
Plant-Based Science by partner and scientific world leader Thermo
Fisher Scientific. Discover more on The Valens Company at
http://www.thevalenscompany.com.
Forward-looking Information
This news release includes statements containing certain
"forward-looking information" within the meaning of applicable
securities law ("forward-looking statements"). Forward-looking
statements are frequently characterized by words such as "plan",
"continue", "expect", "project", "intend", "believe", "anticipate",
"estimate", "may", "will", "potential", "proposed" and other
similar words, or statements that certain events or conditions
"may" or "will" occur. Forward-looking statements made in this news
release include statements regarding the expected results of
collaboration between the Company and Valens with respect to the
manufacturing, launch, availability and expansion of new seasonal
products.
These forward-looking statements are only predictions. Forward
looking information or statements contained in this news release
have been developed based on assumptions management considers to be
reasonable. Material factors or assumptions involved in
developing forward-looking statements include, without limitation,
publicly available information from governmental sources as well as
from market research and industry analysis and on assumptions based
on data and knowledge of this industry which the Company believes
to be reasonable. Forward-looking statements are subject to a
variety of risks, uncertainties and other factors that management
believes to be relevant and reasonable in the circumstances could
cause actual events, results, level of activity, performance,
prospects, opportunities or achievements to differ materially from
those projected in the forward-looking statements. These risks
include, but are not limited to, the ability to retain key
personnel, the ability to continue investing in infrastructure to
support growth, the ability to obtain financing on acceptable
terms, the continued quality of our products, customer experience
and retention, the development of third party government and
non-government consumer sales channels, management's
estimates of consumer demand in Canada and in jurisdictions where the Company
exports, expectations of future results and expenses, the risk of
successful integration of acquired business and operations,
management's estimation that SG&A will grow only in proportion
of revenue growth, the ability to expand and maintain distribution
capabilities, the impact of competition, the general impact of
financial market conditions, the yield from cannabis growing
operations, product demand, changes in prices of required
commodities, competition, and the possibility for changes in laws,
rules, and regulations in the industry, epidemics, pandemics or
other public health crises, including the current outbreak of
COVID-19, and other risks, uncertainties and factors set out under
the heading "Risk Factors" in the Company's annual information form
dated September 27, 2021 (the "AIF")
and filed with Canadian securities regulators available on the
Company's issuer profile on SEDAR at www.sedar.com and filed
with and available on the SEC's website at www.sec.gov. The
Company cautions that the list of risks, uncertainties and other
factors described in the AIF is not exhaustive and other factors
could also adversely affect its results. Readers are urged to
consider the risks, uncertainties and assumptions carefully in
evaluating the forward-looking statements and are cautioned not to
place undue reliance on such information. The Company is under no
obligation, and expressly disclaims any intention or obligation, to
update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, except as
expressly required by applicable securities law.
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SOURCE Aurora Cannabis Inc.