Aura Signs Master Grower for Israel
14 June 2019 - 10:00PM
Aura Health Inc. (the “
Company” or
“
Aura”) (
CSE:BUZZ) is
pleased to announce the signing of master grower, Adrian Richelmi,
to build and operate HolyCanna’s 60,000 square foot greenhouse
facilty in Israel. Aura is a debt holder of HolyCanna that converts
into 54% equity (see press release dated November 23, 2018).
Adrian offers over 15 years of expertise in
growing medical cannabis for both soilless soil and hydroponics
projects. His resume includes designing and building large
scale production facilities along with extensive knowledge of
industry standards and best construction practices. Adrian
graduated from George Brown College with honors, specializing in
architecture and design.
Daniel Cohen, CEO of Aura, added, “We welcome
Adrian to our team to help with the next stage of building Aura’s
vertical integration between Israel and Germany. In a very tight
market for medical cannabis around the world, we are fortunate to
have partnered with someone of Adrian’s caliber and expertise.”
Under the terms of the engagement, Mr. Richelmi
has been retained for a 24-month term and will receive 600,000
common share purchase options of the Company (the “Options”), at an
exercise price of $0.22. 475,000 Options are to vest immediately
with the balance to vest upon certain milestones reached. The
Options shall expire May 28, 2021.
About Aura Health Inc.
Aura Health is building an international network
of vertically-integrated cannabis assets. The Company owns 80% of
Pharmadrug, a German medical cannabis distributor, a convertible
note to 54% of HolyCanna, a cultivation and nursery license holder
in Israel, and has a binding LOI to purchase 57% of CannabiSendak,
the builder of a network of dispensaries in Israel. Additionally,
through significant extraction IP, Aura is dedicated to building a
high-margin, downstream business of end-user products.
For further information, please contact:
Daniel Cohen, CEO Aura Health Inc. (647)
202-1824
David Posner, ChairmanAura Health Inc. (647)
985-6727
Deborah Honig, Investor RelationsAdelaide
Capital Markets(647) 203-8793
Caution Regarding Forward-Looking
Information:
THE CANADIAN SECURITIES EXCHANGE HAS NOT
REVIEWED NOR DOES IT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR
ACCURACY OF THIS RELEASE.
This news release may contain forward-looking
statements and information based on current expectations. These
statements should not be read as guarantees of future performance
or results of Aura. Such statements involve known and unknown
risks, uncertainties and other factors that may cause actual
results, performance or achievements to be materially different
from those implied by such statements. Such statements include
reference to Aura’s marketing campaign, and the effectiveness of
CanaCom, among others. There is no certainty that any of these
events will occur. Although such statements are based on
management's reasonable assumptions, there can be no assurance that
such assumptions will prove to be correct. We assume no
responsibility to update or revise them to reflect new events or
circumstances.
The Company's securities have not been
registered under the U.S. Securities Act of 1933, as amended (the
"U.S. Securities Act"), or applicable state securities laws, and
may not be offered or sold to, or for the account or benefit of,
persons in the United States or "U.S. Persons", as such term is
defined in Regulation S under the U.S. Securities Act, absent
registration or an applicable exemption from such registration
requirements. This press release shall not constitute an offer to
sell or the solicitation of an offer to buy nor shall there be any
sale of the securities in the United States or any jurisdiction in
which such offer, solicitation or sale would be unlawful.
Additionally, there are known and unknown risk
factors which could cause the Company's actual results, performance
or achievements to be materially different from any future results,
performance or achievements expressed or implied by the
forward-looking information contained herein, such as, but not
limited to dependence on obtaining regulatory approvals, owning
interests in companies or projects that are engaged in activities
currently considered illegal under United States federal law;
changes in laws; limited operating history, reliance on management,
requirements for additional financing, competition, hindering
market growth; regulatory and political change.
All forward-looking information herein is
qualified in its entirety by this cautionary statement, and the
Company disclaims any obligation to revise or update any such
forward-looking information or to publicly announce the result of
any revisions to any of the forward-looking information contained
herein to reflect future results, events or developments, except as
required by law.
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