Aurora Cannabis and Radient Technologies Provide Update on Exclusive Collaboration
Market Trends

Aurora Cannabis and Radient Technologies Provide Update on Exclusive Collaboration

Aurora Cannabis and Radient Technologies Provide Update on Exclusive Collaboration

Aurora Cannabis and Radient Technologies Provide Update on Exclusive Collaboration

ArrangementsVANCOUVER, Feb. 13, 2017- Aurora Cannabis Inc. (the “Company” or “Aurora”) (TSXV: ACB) (OTCQB: ACBFF) (Frankfurt: 21P; WKN: A1C4WM) and Radient Technologies (“Radient”) (TSXV: RTI) are pleased to provide an update on their previously announced collaboration arrangements.

Project Update

As previously announced, the parties have entered into a memorandum of understanding (“MOU”) to evaluate an exclusive partnership for the Canadian market with regard to the joint development and commercialization of superior and standardized cannabinoid extracts.



Other Stories Buz Traders Follow

Aurora Cannabis

In accordance with the memorandum of understanding (“MOU”), the parties, on January 4, 2017, entered into a joint venture research agreement pursuant to which Radient and Aurora are working to confirm the effectiveness of Radient’s MAPTM technology for cannabis extraction. Initial results from the first phase of the study are encouraging. As a result, the parties have agreed to move to the second phase of the project, which includes preliminary scale-up activities. The second phase of work under the study has commenced and is expected to take approximately eight weeks.

READ  Marijuana Stock: Is the Pot Industry on the Verge of a Bubble?

“We are pleased with progress to date in assessing the feasibility of this potentially ground breaking extraction technology,” said Terry Booth, CEO. “The potential to substantially increase our extracts production capacity while maintaining terpene profiles would further differentiate our Company, and we are excited to be exploring this opportunity further in the coming weeks.”

Convertible Debenture

Aurora and Radient are also pleased to announce that Aurora has completed its investment in the Radient convertible debenture, announced initially on December 14, 2016 (the “Debenture”). The Debenture will have a principal amount of $2 million, a term of 2 years, bear interest at 10% per annum, and will be convertible into units of Radient at a conversion price of $0.14 per Unit. Each Unit will be comprised of one common share of Radient and one share warrant, exercisable within 24 months, for one common share of Radient at an exercise price of $0.33 per warrant. The Debenture will be repayable on demand from Aurora at any point within five months from the date of issuance.

READ  BlueOcean NutraSciences Inc. Provides a Corporate Update Post Financing Close

Radient Private Placement

Additionally, Aurora intends to participate as lead investor in the private placement announced today by Radient.  The Company intends to invest up to $1.25 million in the offering. Units in the offering, priced at $0.45 each, are comprised of one common share of Radient and one half common share purchase warrant at a price of $0.70 per common share.

Denis Taschuk, President and CEO of Radient, stated “We are very encouraged with the initial positive results generated through the collective efforts of the Aurora and Radient teams, using our extraction expertise and technology for cannabis extraction, and we feel confident in meeting Aurora’s objectives. Additionally, the increasing corporate ties between Aurora and Radient and the funds raised provide us both with the resources and the ideal platform to implement our go to market strategy.”

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, and is currently constructing a second 800,000 square foot, highly automated production facility at the Edmonton International Airport. Aurora trades on the TSX Venture Exchange under the symbol “ACB”.

READ  What Are The Cheapest Tech Stocks To Invest In for 2017?

About Radient

Radient extracts natural compounds from a range of biological materials using its proprietary MAPTM natural product extraction technology platform which provides superior customer outcomes in terms of ingredient purity, yield, and cost. From its initial 20,000 square foot manufacturing plant in Edmonton, Alberta, Radient serves market leaders in industries that include pharmaceutical, food, beverage, natural health, personal care and biofuel markets. Visit www.radientinc.com for more information.



Pharmaceuticals  stocks ( CGC)  ( JNJ ) ( MRK ) ( GSK ) ( celg )  ( gild )




Click here for reuse options!
Copyright 2017 Investors Buz
Jadtecnic
Richard Dambrosi (JADTECNIC) Has Been Sharing Forex Analysis Trending Markets News since 2011. Editors and Founder of InvestorsBuz.com , has a passion for Forex Social Sharing analysis and Market Trends Such as Self Driving Cars , Electric Cars, Medical Marijuana , 3d printing and Cloud computing , Refers to Readers as BUZ INVESTORS.

One thought on “Aurora Cannabis and Radient Technologies Provide Update on Exclusive Collaboration

Leave a Reply