NASDAQ | TSX: ACB
The Expected De-scheduling of Cannabis to Fuel Expansion of the Medical Cannabis Market in Germany
EDMONTON, AB, April 1, 2024 /PRNewswire/ -- Aurora Cannabis Inc. (NASDAQ: ACB) (TSX: ACB) – a Canadian based leading global medical cannabis company, applauds the German government's final endorsement of cannabis legalization, marking a significant step forward in bolstering patient access to medical cannabis with the official passing of the Cannabis Act.
This change presents long overdue reform in favour of a more accessible medical cannabis market and commitment to patients. This reform follows the progressive change in leading countries like Canada and will serve as a benchmark for global expansion.
"Germany's reform brings significant advancements in patient access to medical cannabis and a much-needed liberal approach to cannabis that we have advocated in favour of," emphasized Dirk Heitepriem, Vice President, External Affairs, Aurora Europe, GmbH. "As a market leader, Aurora has been a steadfast supporter of patients. With cannabis de-scheduling, more patients gain access to treatment, reinforcing our dedication to patient outreach and comprehensive access to quality medical cannabis. Today's improved access underscores our commitment to see progressive change."
Alongside the cultural significance of Germany's advancements in cannabis legalization, these developments offer a distinct opening for Aurora, a leading provider of medical cannabis in Germany, to enhance its established footprint in the country.
The reclassification of cannabis as a non-narcotic is poised to inspire more patients to actively consult with their physician regarding medical cannabis, facilitating greater access, education, and awareness for medical cannabis. Aurora once again congratulates the German government on the successful passing of cannabis law reforms that provide for improved patient care.
For further information about medical cannabis products, doctors and health care professionals can contact Aurora Medical.
Aurora is opening the world to cannabis, serving both the medical and consumer markets across Canada, Europe, Australia and South America. Headquartered in Edmonton, Alberta, Aurora is a pioneer in global cannabis, dedicated to helping people improve their lives. The Company's adult- use brand portfolio includes Drift, San Rafael '71, Daily Special, Tasty's, Being and Greybeard. Medical cannabis brands include MedReleaf, CanniMed, Aurora and Whistler Medical Marijuana Co, as well as international brands, Pedanios, Bidiol, IndiMed and CraftPlant. Aurora also has a controlling interest in Bevo Farms Ltd., North America's leading supplier of propagated agricultural plants. 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, wellness and adult recreational markets wherever they are launched. Learn more at www.auroramj.com and follow us on X and LinkedIn.
Aurora's Common Shares trade on the NASDAQ and TSX under the symbol "ACB" and is a constituent of the S&P/TSX Composite Index.
About Aurora Europe
Aurora Europe, headquartered in Berlin, Germany, is a subsidiary of Aurora Cannabis Inc., a global leader in the cannabis industry serving both medical and consumer markets and dedicated to helping people improve their lives. Aurora Europe supplies high-quality medical cannabis products to patients throughout Europe. Aurora is one of the largest authorised importers and distributors of medical cannabis in the European Union & the UK. Aurora Deutschland, part of Aurora Europe GmbH, is one of three companies licensed to grow medicinal cannabis in Germany. Since May 2022, Aurora Produktions GmbH has been producing one ton of medicinal cannabis annually in Leuna, Saxony-Anhalt. Aurora's internal network of EU GMP facilities delivers high-quality, premium medical cannabis to patients worldwide. For more information please visit www.auroramedicine.com or follow us on www.linkedin.com/company/aurora-europe.
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, but are not limited to, statements regarding Germany's endorsement of cannabis legalization and associated benefits, including the expected impact on the expansion of the medical cannabis market in Germany, improvements in patient access to treatment, education and awareness for medical cannabis, and other direct benefits to the Company, including the Company's leadership in medical cannabis in Germany and the ability to enhance its footprint in that market.
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 (with respect to the Transaction and more generally with respect to future acquisitions), 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 from dated June 14, 2023 (the "AIF") and filed with Canadian securities regulators available on the Company's issuer profile on SEDAR+ at www.sedarplus.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.
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