Companies Finalize Collaboration
Agreement
TSX: ACB
EDMONTON and VANCOUVER, Jan. 15, 2018 /CNW/ - Aurora
Cannabis Inc. ("Aurora") (TSX: ACB) (OTCQB: ACBFF) (Frankfurt: 21P; WKN: A1C4WM) and Micron Waste
Technologies Inc. ("Micron") (CSE: MWM, OTC: MICWF,
Frankfurt: 7FM2), a developer of
proprietary digester solutions for the treatment of organic waste,
today announced that Aurora has completed a strategic investment in
Micron and that the companies have finalized a collaboration
agreement pursuant to which both companies will collaborate on the
optimization of Micron's technology for the treatment of organic
waste generated in the cultivation and production of cannabis
products.
Micron has developed a new technology, based on aerobic
digestion and subsequent treatment, that converts organic waste
into clean water that meets municipal effluent discharge standards.
Currently used methods to dispose of organic waste generally
require the utilization of municipal landfill sites, which is
costly and has a negative impact on the environment. The merits of
Micron's technology have been successfully demonstrated with a
grocery supermarket chain located in British Columbia, Canada, with whom Micron has
entered into an Memorandum of Understanding to review additional
installations.
Micron will now install a digester unit at one of Aurora`s
facilities, where the companies will jointly work to optimize the
digestor for the cannabis industry. Upon successful completion of
the project, Aurora intends to acquire multiple units for its
various facilities. Micron will retain the intellectual property
related to the digestor, and shall pay Aurora a 4% royalty for
every unit sold to other licensed producers globally. Upon the
first successful sale of a digestor within the cannabis industry,
Micron shall issue to Aurora 2 million common shares.
"Micron`s technology is a very elegant solution to a time
consuming and relatively costly operation at the end of our
production process," said Terry
Booth, CEO. "We love the combination of the technology`s
positive environmental impact with its cost effectiveness. Upon
successful completion of the optimization process, we will have
access to yet another innovation to improve our facilities, and we
look forward to working with the Micron team to bring this very
promising technology to the cannabis sector."
Rav Mlait, CEO of Micron, added,
"Aurora with its innovative mindset is the ideal partner to develop
a commercially ready unit for the cannabis industry. Becoming part
of Auroras `growing constellation of technology partners would
result in considerably expanded market reach, accelerate
development of this side of our business, and provide strong brand
recognition for Micron. We are also pleased having been able to
attract additional strategic investors in our placement, raising
further funds to accelerate the development of commercial solutions
for expansion into other sectors."
Strategic investment – private placement
Aurora also completed a strategic investment in Micron, taking a
6.46% ownership interest on a non-diluted basis, by acquiring
4.411,765 units, for a total investment of $1.5 million, as part of a private placement. The
full placement consisted of 6,790,000 units for total gross
proceeds of $2.3 million. Each unit
consists of one common share and one common share purchase warrant,
priced at $0.50, with an expiry date
of 2 years following the closing of the placement.
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"). The Company operates a 55,200 square foot,
state-of-the-art production facility in Mountain View County,
Alberta, known as "Aurora
Mountain", a second 40,000 square foot high-technology production
facility known as "Aurora Vie" in Pointe-Claire, Quebec on Montreal's West Island, and is currently
constructing an 800,000 square foot production facility, known as
"Aurora Sky", at the Edmonton
International Airport, as well as is completing a fourth facility
in Lachute, Quebec through its
wholly owned subsidiary Aurora Larssen Projects Ltd.
In addition, the Company holds approximately 17.23% of the
issued shares 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 22.9% 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. The Company 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".
About Micron Waste Technologies Inc.
Micron Waste Technologies Inc. is a well funded technology
company. The Company's organic waste digestion system is designed
to manage organic waste on-site, converting it into clean water.
The Company's aerobic digester has micro-oxygen cubicles technology
to enhance the digestion efficiency of microorganisms by up to 95%,
with the remaining 5% of undigested particles undergoing further
treatment, resulting in clean water effluent that meets municipal
effluent discharge standards. Micron's technology is an ideal
solution to handle organic waste on-site in view of the drive for
further cost efficiencies, as well as ever stricter legislation
being implemented to prohibit organic waste from entering landfill
sites around the world. Please visit our website at
www.micronwaste.com for further information. Micron is a public
company with listings on the CSE: MWM, OTC: MICWF, and in
Frankfurt: 7FM2.
On behalf of the Boards of Directors,
AURORA CANNABIS
INC.
|
MICRON WASTE
TECHNOLOGIES INC.
|
Terry
Booth
|
Rav Mlait
|
CEO
|
CEO
|
This news release includes statements containing certain
"forward-looking information" within the meaning of applicable
securities law ("forward-looking statements"), including, but not
limited to, statements with respect to the successful completion of
the optimization process and the market acceptance of Micron`s
solutions. 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. These statements are
only predictions. Various assumptions were used in drawing the
conclusions or making the projections contained in the
forward-looking statements throughout this news release.
Forward-looking statements are based on the opinions and estimates
of management at the date the statements are made, and are subject
to a variety of risks and uncertainties and other factors that
could cause actual events or results to differ materially from
those projected in the forward-looking statements. 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 law.
Neither TSX or CSE, nor their Regulation Services Provider
(as that term is defined in the policies of Toronto Stock Exchange
and the CSE) accept responsibility for the adequacy or accuracy of
this release.
SOURCE Aurora Cannabis Inc.