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Aurora Cannabis To Buy Privately-held Whistler Medical Marijuana

Canadian marijuana producer Aurora Cannabis Inc. (ACB,ACB.TO) said Monday that it has entered into a letter of intent or LOI to acquire privately-held Whistler Medical Marijuana Corp., in an all-share transaction valued at up to about C$175 million, including certain milestone payments.

Founded in 2013, Whistler is one of Canada's original ten licensed producers, and was the first licensed producer to obtain organic certification and sell a full suite of organic certified cannabis products, including THCA, CBG and high CBD oils. The company is based in Whistler, British Columbia.

"This transaction adds an iconic, organic certified BC-based brand with exceptional traction and a significant price premium in both the medical and retail markets. We intend to accelerate the completion of Whistler's Pemberton expansion project, and leverage our domestic and international distribution channels to increase market reach for their exceptional products," said Terry Booth, CEO of Aurora Cannabis.

Aurora Cannabis expects the transaction to provide it with a premium and differentiated organic certified product suite, expanding both its medical and adult-use offerings, and reinforcing Aurora's presence in the well-established west coast cannabis market.

Aurora noted that Whistler has a growing domestic footprint. In addition to its existing supply arrangements in British Columbia, Saskatchewan and the Yukon, Whistler has received product requests from Alberta, Manitoba and Ontario.

Whistler operates two indoor licensed production facilities, with its first located in Whistler, British Columbia, and the second, a recently licensed, purpose-built, state-of-the-art facility located a 20-minute drive from the Whistler facility.

Once the second facility reaches full capacity, anticipated for Summer 2019, the facilities are anticipated to have a combined production capacity of over 5,000 kg per year.

Whistler sells medical cannabis derivatives internationally to both Australia and the Cayman Islands. Through the addition of Aurora's deep experience in completing EU GMP certified facilities and its large global distribution network, Aurora plans to pursue additional international export opportunities.

Headquartered in Edmonton, Alberta, with funded capacity in excess of 500,000 kilograms per annum and sales and operations in 22 countries across five continents, Aurora is one of the world's largest cannabis companies.

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