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Aurora and Radient Technologies Announce Positive Results from Research Joint Venture

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Aurora and Radient Technologies Announce Positive Results from Research Joint Venture

 

Collaboration Validates that Radient’s Proprietary Extraction Technology Offers Superior Cannabinoid Extraction Efficiency and Significantly Higher Throughput than Conventional Processes

BUZ INVESTORS PRESS RELEASE   Positive Results from Research   Aurora Cannabis Inc. (the “Company” or “Aurora”) (TSXV: (ACB) (OTCQX: (ACBFF) (Frankfurt: 21P; WKN: A1C4WM) and Radient Technologies (“Radient”) (TSX-V: RTI) are pleased to announce the successful completion of their Joint Venture Research Activity (“JV”), confirming the effectiveness of Radient’s proprietary MAPTM Technology and associated continuous flow design for extracting cannabinoids from dried cannabis.

On December 14, 2016, Radient and Aurora executed 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. The first element of the collaboration was the execution of a joint research project to assess the feasibility of applying Radient’s proprietary technology for the extraction of cannabinoids from cannabis, including the establishment of parameters of extraction yields, recovery rates of available cannabinoids, purity of the extracts obtained, and the determination of cannabinoids and terpene profiles. The feasibility study also included an assessment of the potential processing throughput achievable using Radient’s large-scale continuous-flow MAPTM extractor, based upon established extraction conditions.

Positive Results from Research

 

Radient’s MAPTM technology enables precise control of temperature and extraction time of continuously flowing material, both of which affect purity and extract profile.  This careful control of extraction parameters and product quality is something that is impossible to achieve at large scale using conventional methods.  Extremely high (quantitative) recovery of available cannabinoids is possible in extraction times that are shaved from hours to minutes.

The study was conducted in two phases: bench-scale screening experiments of MAPTM extraction conditions; and scaled-up experiments under preferred extraction conditions. The analytical data from the research project were verified and confirmed by Anandia Labs Inc., a leading Canadian independent cannabis testing laboratory.

Key findings:

  • Consistently high extraction efficiencies of up to 98% (quantitative recovery) were observed compared to 80 – 85% typical for conventional technologies;
  • Exceptionally short processing times of as little as five minutes were achieved, as compared to approximately 6 hours for currently used commercial technologies;
  • Consistently high purity levels were observed for the extracts produced, at least on par with those achieved using conventional methods;
  • The research data indicate that throughputs in excess of 1,500 kg per day can potentially be achieved using Radient’s proprietary large-scale continuous-flow MAPTM extractor, many times higher than what can be achieved using conventional methods;
  • Replication of this technology in other jurisdictions on a larger or smaller scale is feasible;
  • Extract profiles obtained during the project show near full preservation of cannabinoid and terpene profiles in the extracts;

Based on the positive results of the study Radient and Aurora have agreed to negotiate an exclusive development and commercialization agreement for the use of Radient’s technology, and to continue their exclusive Joint Venture for additional scientific Research and Development of cannabis and hemp products.

“These results clearly validate the game changing nature of Radient’s technology for the cannabis sector,” said Terry Booth, CEO of Aurora. “The ability to produce high-purity concentrates at very high throughputs, while preserving terpene profiles, will provide a substantial competitive advantage for us in addressing the high-growth concentrates market. We see a number of factors that will require a significant expansion of production capacity for extracts, including our own expanding national and international footprint, the continued strong growth of the medical market in Canada, Germany and Australia, and the commencement of Canadian adult usage sales anticipated for July of 2018. The exclusive use of Radient’s technology positions us as the clear leader in this field, which we believe will enable Aurora to capture a significant share of this high-margin market.”

Booth concluded, “Aurora is very pleased to be a significant shareholder of Radient, and as part of our partnership with them, plan on continuing to hold a significant position in Radient.”

Radient’s CEO, Denis Taschuk, stated, “The positive outcome of the joint research project is a key milestone in the commercial development of Radient. With these results in our pocket, we are now able to commercialize our technology in what has become the fastest growing sector of the North American economy.  We are very pleased to embark on this journey with Aurora, who have proven to embrace innovation and who have developed one of the strongest brands within the cannabis industry, both in Canada and internationally.”

Radient also announces that, pursuant the terms of the convertible debenture issued to Aurora on February 13, 2017, Radient will make the first quarterly interest payment of $50,000 to Aurora through the issuance of additional units to Aurora (“Units”).  Each Unit consisting of one common share and one common share purchase warrant.

The interest payment was payable to Aurora on May 13, 2017 and the conversion price for the issuance of the Units is $0.48 being Radient’s closing trading price on Friday May 12, 2017.  Based on this conversion price, Radient will issue 104,167 common shares and 104,167 common share purchase warrants to Aurora in satisfaction of the interest payment.  Each common share purchase warrant will entitle Aurora to acquire one additional common share of Radient at an exercise price of $0.48 per share. The issuance of the Units to Aurora is subject to final approval of the TSX Venture Exchange and the Units will be subject to a four month hold period.

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 production facility, known as “Aurora Sky”, at the Edmonton International Airport, and has acquired, and is undertaking completion of, a third 40,000 square foot production facility in Pointe-Claire, Quebec, on Montreal’s West Island. Aurora also recently acquired Pedanios GmbH, a leading wholesale importer, exporter, and distributor of medical cannabis in the European Union (“EU”), based in Berlin, Germany. In addition, the company is the cornerstone investor with a 19.9% stake in Cann Group Limited, the only Australian company licensed to conduct research on and cultivate medical cannabis, Aurora’s common shares trade on the TSX-V under the symbol “ACB”. Visit www.auroramj.com for more information.

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.

Business Description

Industry: Drug Manufacturers » Drug Manufacturers – Specialty & Generic    NAICS: 325411    SIC: 3741
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Traded in other countries: ACB.Canada, 21P.Germany,
Headquarter Location: Canada

Aurora Cannabis Inc is a medical marijuana company. The Company is engaged in producing and distributing medical marijuana pursuant to the Marijuana for Medical Purposes Regulations.

Prescient Mining Corp was incorporated on December 21, 2006, under the laws of the Business Corporations Act. The Company is engaged in the acquisition, exploration, and development of natural resource properties.

 

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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

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.



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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.

“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.

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”.

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.



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Aurora Cannabis and Radient Technologies Sign MOU on Joint Venture

Aurora Cannabis and Radient Technologies Sign MOU on Joint Venture

Aurora Cannabis and Radient Technologies Sign MOU on Joint Venture

Aurora Cannabis and Radient Technologies Sign MOU on Joint Venture

VANCOUVER, Dec. 14, 2016 – Aurora Cannabis Inc. (the “Company” or “Aurora”) (TSXV: ACB) (OTCQB: ACBFF) (Frankfurt: 21P; WKN: A1C4WM) and Radient Technologies Inc. (“Radient”) (TSXV: RTI) are pleased to announce that they have signed 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. As part of the MOU, Aurora will, subject to certain conditions precedent being satisfied, invest up to $2 million into Radient by means of a convertible debenture (the “Debenture”).

Radient currently operates from a 20,000 square foot, GMP compliant, Natural Health Products Directorate (NHPD) licensed facility in Edmonton, Alberta, extracting natural ingredients for a range of industries including food and beverage, nutrition, supplements, pharmaceuticals, and cosmetics. Radient operates under strict quality controls and owns patented extraction technologies, originally developed by scientists at Environment Canada. These proprietary technologies have proven capable of producing high-quality standardized extracts with faster throughputs, improved yields, higher purities, and lower costs when compared to conventional extraction methods.

“Radient’s technology promises a significant advance in both quality and efficiency of cannabis extract production,” said Terry Booth, CEO.  “This is especially important considering global market dynamics, which point to strong demand for cannabis derivative products. Importantly, Radient’s extraction technology has also been proven to deliver superior preservation of aromatic compounds known as terpenes, which are key to the cannabis consumer experience and the Aurora Standard.”

Denis Taschuk, President and CEO of Radient, stated, “We are very excited by this potential partnership with Aurora, given their leadership position in the medical cannabis space and the exceptional quality of their products. The combination of Aurora’s recently announced capacity expansion with our proprietary high-throughput extraction technology has the potential to play an important role in meeting the fast-growing demand for quality cannabinoid extracts.”

Aurora, one of the largest licensed producers of medical cannabis under Health Canada’s Access to Cannabis for Medical Purposes Regulations (ACMPR), recently began construction on an unprecedented 800,000 square foot production facility in Leduc County, Alberta.  This facility, known as “Aurora Sky”, is anticipated to be capable of producing in excess of 100,000 kg of high-quality, low-cost marijuana per year.

Under the terms of the MOU, Aurora will fund the collaboration through the Debenture. The Debenture will have a term of 2 years, bear interest at 10% per annum and will be convertible into units (each, a “Unit”) 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 issuance of the Debenture is subject to all necessary regulatory approvals, including the approval of the TSX Venture Exchange.

About Radient

Radient extracts natural compounds from a range of biological materials using it 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. Radient trades on the TSX Venture Exchange under the symbol “RTI”. Visit www.radientinc.com for more information.