Aurora Cannabis Inc. (CSE:ACB,OTCQB:ACBFF) announced that Aurora Cannabis Enterprises Inc., its wholly owned subsidiary, has received approval from Health Canada to produce derivative cannabis products through a Section 56 exemption to the Controlled Drugs and Substances Act.
As quoted in the press release:
Aurora’s pharmaceutical grade CGMP compliant super critical CO2 fluid extraction (SFE) equipment was acquired last summer in anticipation of receiving Health Canada’s Section 56 approvals. The best-in-class equipment is designed for solvent-free extraction of the active compounds of the cannabis plant while preserving its full terpenoid profile, all of which have generally accepted therapeutic benefits.
Aurora is confident that there will be tremendous demand for these new products, which are conservatively forecasted to contribute 30% additional revenues and improve the Company’s profit margins. Aurora’s facility, with 55,200 square feet of expandable licensed production space, is expected to be running at full capacity by spring 2016, has a demonstrated capability of producing over 8,000 kg of dried cannabis annually.
Neil Belot, chief brand officer at Aurora, commented:
Different methods of administration offer different medical benefits. For patients who are managing certain conditions and symptoms these products can be more appropriate than dried flower. Aurora’s new product line will offer clients more treatment options allowing them to choose from various forms of cannabis for medical purposes.