Aurora Cannabis Announces Financial Results for a Third Quarter of Fiscal 2019

Q3 2019 Facility and Production Update

Aurora defines prolongation rate as a ability of all planted bedrooms that have been authorized by a regulator for sales, regulating approaching annualized harvests during majority formed on a chronological furnish per plant. These targeted yields have been met or exceeded during all of Aurora’s stream handling facilities. To viewpoint a video overview of Aurora’s prolongation facilities, click here: https://youtu.be/irTfAXbFS38.  

  • Construction during Aurora Sky is complete, and all grow bedrooms have been protected by Health Canada. Fully planted, Aurora Sky is handling during a full pattern ability of over 100,000 kg per annum.

  • All bedrooms during Bradford are protected by Health Canada and a trickery has been entirely planted. The trickery has perceived no vital observations during a examination to obtain EU GMP certification. Obtaining this certificate will almost boost a Company’s ability to boat product to a European market.

  • The initial saleable collect during Aurora Nordic 1 is approaching by a finish of mercantile Q4 2019, with product sales approaching in Dec 2019 , or as shortly as regulatory approvals are provided. Initial harvests for contrast and chartering functions have been finished successfully.

  • Construction of Aurora Sun is surpassing well, with a trickery approaching to be prepared for planting by midst calendar 2020. Aurora Sun will magnitude 1.62 million block feet, reflecting a 33% boost from a creatively designed size.

Installation of potion roof structure during Aurora Sun, Medicine Hat, Alberta. (CNW Group/Aurora Cannabis Inc.)Installation of potion roof structure during Aurora Sun, Medicine Hat, Alberta. (CNW Group/Aurora Cannabis Inc.)
  • Whistler Alpha Lake is now handling during a designed ability of 480 kg/year of organic approved cannabis, utilizing 4 grow rooms.

  • Construction of Whistler Pemberton stays on lane for execution in calendar Q4 2019
  • During a many new grow deteriorate in Europe , Agropro harvested a sum 3,950 acres of hemp opposite Lithuania , Latvia and Estonia . For a arriving grow season, commencement in May 2019 , Agropro skeleton to agreement 8,150 acres of hemp for harvest, that is approaching to start in August.

Q3 2019 and Subsequent Corporate Highlights

Acquisitions

  • Acquisition of Whistler Medical Marijuana Corporation (“Whistler”)
    On Mar 1, 2019 , Aurora acquired Whistler, an iconic Canadian organic cannabis code that commands a poignant reward for a products in both a Canadian medical and consumer markets. The Company is now scaling adult Whistler’s operations and anticipates an boost in products accessible for sale for a residue of a calendar year.
  • Acquisition of Hempco Food and Fiber Inc. (“Hempco”)
    On Apr 16, 2019 , a Company entered a contracting minute agreement with Hempco to acquire all of a released and superb shares of Hempco. The merger will strengthen a Company’s industrial hemp and CBD-from-hemp infrastructure.
  • Acquisition of Chemi Pharmaceuticals Inc. (“Chemi”)
    On Apr 24, 2019 , a Company acquired Chemi, an Ontario -based laboratory specializing in high peculiarity analytics services for a curative and cannabis industries. The merger is dictated to enhance a Company’s methodical services for derivative products.

Strategic Developments

  • Appointment of Nelson Peltz
    On Mar 13, 2019 , a Company allocated Nelson Peltz as a vital confidant to work collaboratively with Aurora on exploring tellurian enlargement and partnership opportunities. Management believes a Company is good positioned to pursue partnerships opposite a series of attention verticals and is operative with Mr. Peltz and his group to consider opportunities.
  • Aurora Polaris
    On Feb 12, 2019 , a Company announced a construction of Aurora Polaris, a 300,000 block feet ubiquitous logistics heart and trickery for a industrial-scale prolongation of derivative cannabis products. Construction is on report and a Company anticipates execution towards a finish of a calendar year. In expectation of new regulations, a Company is in a routine of installing halt prolongation lines in protected space opposite a prolongation infrastructure in Canada to safeguard a full element of products will be accessible for sale in estimable quantities when permitted.

International Expansion

  • German Cannabis Production Tender
    On Apr 5, 2019 , a Company was comparison by a German Federal Institute for Drugs and Medical Devices as one of 3 winners in a open proposal to favour and discharge medical cannabis in Germany . Aurora scored top opposite 11 of 13 proposal lots and was allotted a limit series given to any LP of five. Aurora has commenced work on a construction of a trickery in Germany and approaching product to strech a German marketplace in Oct 2020 . Management expects that apropos a internal writer will strengthen code recognition and marketplace enlargement in a vast and critical market.
  • Exports of Medical Cannabis to a United Kingdom
    On Feb 11, 2019 , a Company finished a initial blurb trade of cannabis oil to a United Kingdom . Under a new UK framework, dilettante doctors can legally emanate prescriptions for cannabis-based medicines when they determine that their patients could advantage from this treatment.
  • Expansion into Portugal
    On Feb 26, 2019 , a Company combined Aurora Portugal Lda . by an agreement to acquire a 51% tenure seductiveness in Gaia Pharm Lda . Construction of an EU GMP agreeable prolongation cannabis trickery is now underway in Portugal .
  • Exports of Cannabis Oil to Germany
    On Mar 11, 2019 , a Company commenced sales of cannabis oils to German pharmacies. Aurora’s full spectrum remove is differentiated in a marketplace primarily serviced with fake cannabinoids. With this, supervision believes a Company has a poignant rival advantage to settle early inciter leadership, code recognition and sales enlargement in this aloft domain segment.

Financing Activities

  • Offering of Convertible Notes
    On Jan 24, 2019 , a Company sealed an charity of Convertible Notes for sum deduction of US$345 million to fuel Canadian and ubiquitous enlargement initiatives, for destiny acquisitions and for ubiquitous corporate purposes, including operative collateral mandate to continue a Company’s accelerated growth.
  • Filing of Final Base Shelf Prospectus and Prospectus Supplement for At-the-Market Offering
    On May 10, 2019 , a Company filed a final short-form bottom shelf handbill (the “Shelf Prospectus”) with a bonds commissions in any of a provinces of Canada , usually Quebec , and a analogous shelf registration matter with a United States Securities and Exchange Commission on Form F-10. These filings concede a Company to validate a placement underneath a handbill in Canada and a United States of adult to US$750,000,000 of common shares, warrants, subscription receipts, debt securities, or any multiple of such bonds (all of a foregoing, collectively, a “Shelf Securities”) during a 25-month duration that a final brief form bottom shelf handbill stays effective. The specific terms of any destiny offerings underneath a Shelf Prospectus will be determined in a handbill supplement.  Any handbill serve will be filed with a germane bonds regulatory authorities in tie with such offering.

On May 14, 2019 , a Company filed a handbill serve (the “Prospectus Supplement”) to a Shelf Prospectus.In tie with a Prospectus Supplement, Aurora entered into a Sales Agreement antiquated May 14, 2019 with Cowen and Company, LLC (“Cowen”) and BMO Capital Markets (“BMO”) who will act as a offered agents (the “Selling Agents”) for a sale of common shares of Aurora (the “Common Shares”) by approach of “at-the-market distributions” on a New York Stock Exchange in a United States . Subject to a terms of a Sales Agreement and germane regulatory requirements, Common Shares in a sum volume of up  to US$400,000,000 might be released and sole from time to time during a option of Aurora over a duration of adult to 25 months. The Common Shares will be distributed during marketplace prices prevalent during a time of a sale of such Common Shares and, as a result, prices might change as between purchasers and during a duration of distribution. The net deduction of such sales, if any, will be used for ubiquitous corporate purposes, including: (i) operative capital; (ii) intensity destiny acquisitions; (iii) debt repayments; and (iv) collateral expenditures. The volume and timing of sales, if any, of Common Shares is during a option of Aurora.

Aurora expects to use a net deduction from a handbill will support a enlargement initiatives, tellurian partnership strategy, and to continue a Company’s accelerated growth.

The Shelf Prospectus and Prospectus Supplement have been filed on SEDAR and a U.S. chronicle of a Shelf Prospectus and a Prospectus Supplement have been filed on a SEC’s website (www.sec.gov).

This news recover does not consecrate an offer to sell or a questionnaire of an offer to buy, nor shall there be any sale of these Securities in any office in that such offer, questionnaire or sale would be wrong before to a registration or gift underneath a bonds laws of any such jurisdiction.

Financial Supplement Q3 2019

 

 

Options Grant

The Company postulated a sum of 383,000 options to squeeze common shares of Aurora to Directors and Officers of a Company. The options vest annually over 36 months and have a weighted normal practice cost of $9.35  per common share.

Conference Call

Aurora will horde a discussion call tomorrow, May 15, 2019, to plead these results. Terry Booth, Chief Executive Officer, Glen Ibbott, Chief Financial Officer, Cam Battley , Chief Corporate Officer, and Michael Singer , Executive Chairman, will horde a call starting at 10:30 a.m. Eastern time. A doubt and answer event will follow management’s presentation.

 

About Aurora 

Headquartered in Edmonton, Alberta, Canada with saved ability in additional of 625,000 kg per annum and sales and operations in 24 countries opposite 5 continents, Aurora is one of a world’s largest and heading cannabis companies. Aurora is plumb integrated and horizontally diversified opposite each pivotal shred of a value chain, from trickery engineering and pattern to cannabis tact and genetics research, cannabis and hemp production, derivatives, high value-add product development, home cultivation, indiscriminate and sell distribution.

Highly differentiated from a peers, Aurora has determined a singly advanced, unchanging and fit prolongation strategy, formed on purpose-built comforts that confederate leading-edge technologies opposite all processes, tangible by endless automation and customization, ensuing in a large scale prolongation of high-quality product during low cost. Intended to be replicable and scalable globally, a prolongation comforts are designed to furnish cannabis of poignant scale, with high quality, industry-leading yields, and low per gram prolongation costs. Each of Aurora’s comforts is built to accommodate EU GMP standards. EU GMP acceptance has been postulated to Aurora’s initial prolongation trickery in Mountain View County, a MedReleaf Markham facility, and a unconditionally owned European medical cannabis distributor Aurora Deutschland.

In serve to a Company’s fast organic enlargement and clever execution on vital MA, that to date includes 16 unconditionally owned auxiliary companies – MedReleaf, CanvasRX, Peloton Pharmaceutical, Aurora Deutschland, H2 Biopharma, Urban Cultivator, BC Northern Lights, Larssen Greenhouses, CanniMed Therapeutics, Anandia, HotHouse Consulting, MED Colombia, Agropro, Borela, ICC Labs, Whistler, and Chemi Pharmaceutical – Aurora is renowned by a repute as a partner and employer of choice in a tellurian cannabis sector, carrying invested in and determined vital partnerships with a operation of heading innovators, including: Radient Technologies Inc. (RTI.V), Hempco Food and Fiber Inc. (HEMP.V), Cann Group Ltd. (CAN.AX), Micron Waste Technologies Inc. (CSE:MWM), Choom Holdings Inc. (CSE:CHOO), Capcium Inc. (private), Evio Beauty Group (private), Wagner Dimas (private), CTT Pharmaceuticals (CTTH), Alcanna Inc. (CLIQ.TO), High Tide Inc. (CSE:HITI) and EnWave Corporate (ENW.V).

Aurora’s Common Shares trade on a TSX and NYSE underneath a pitch “ACB”, and are a basic of a SP/TSX Composite Index.

For some-more information about Aurora, greatfully revisit a financier website, investor.auroramj.com 

Terry Booth , CEO
Aurora Cannabis Inc. 

Forward Looking Statements and Non-IFRS Industry Measures

This news recover creates anxiety to certain non-IFRS measures, including certain attention metrics. These metrics and measures are not famous measures underneath IFRS do not have meanings prescribed underneath IFRS and are as a outcome doubtful to be allied to identical measures presented by other companies. These measures are supposing as information nominal to those IFRS measures by providing a serve bargain of a handling formula from a viewpoint of management. As such, these measures should not be deliberate in siege or in lieu of examination of a financial information reported underneath IFRS. This news recover uses non-IFRS measures including “EBITDA”,  “production rate”, “production accessible for sale” and “SGA”.  Production accessible for sale and prolongation rate are ordinarily used handling measures in a attention though might be distributed differently compared to other companies in a industry. These non-IFRS measures, including a attention measures, are used to yield investors with extra measures of a handling opening that might not differently be apparent when relying usually on IFRS metrics. Definitions of a non-IFRS measures can be found in a financial statements, MDA and this news release.

This news also recover includes statements containing certain “forward-looking information” within a definition of germane bonds law (“forward-looking statements”). Forward-looking statements are frequently characterized by difference such as “plan”, “continue”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “may”, “will”, “potential”, “proposed” and other identical words, or statements that certain events or conditions “may” or “will” start and include, though are not singular to a execution of decisive agreements and a shutting of a transaction. These statements are usually predictions. Various assumptions were used in sketch a conclusions or creation a projections contained in a forward-looking statements via this news release. Forward-looking statements are formed on a opinions and estimates of supervision during a date a statements are made, and are theme to a accumulation of risks and uncertainties and other factors that could means tangible events or formula to differ materially from those projected in a forward-looking statements. These risks include, though are not singular to, a ability to keep pivotal personnel, a ability to continue investing in infrastructure to support growth, a ability to obtain financing on excusable terms, a continued peculiarity of a products, patron knowledge and retention, a enlargement of third celebration supervision and non-government adult-use  sales channels, managements determination of consumer direct in Canada and in jurisdictions where a Company exports, expectations of destiny formula and expenses, a accessibility of additional collateral to finish construction projects and comforts improvements, a risk of successful formation of acquired business and operations, a ability to enhance and say placement capabilities, a impact of competition, and a probability for changes in laws, rules, and regulations in a industry. The Company is underneath no obligation, and specifically disclaims any goal or obligation, to refurbish or correct any forward-looking statements, either as a outcome of new information, destiny events or otherwise, usually as specifically compulsory by germane law. 

Aurora Cannabis Inc. (CNW Group/Aurora Cannabis Inc.)Aurora Cannabis Inc. (CNW Group/Aurora Cannabis Inc.)
CisionCision

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SOURCE Aurora Cannabis Inc.

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