Aurora Cannabis Inc. (TSX:ACB) becomes the first Canadian Licensed Producer to launch vape-ready CBD oil cartridges
SmallCapPower | October 19, 2018: Aurora Cannabis Inc. (TSX:ACB) Tuesday announced that it has received the mandatory compliance verification from Health Canada to release for sale its high-potency, vape-ready CBD oil product line. Becoming the first Licensed Producer in Canada to launch CBD oils, the Company’s first products released contain over 550mg of CBD and less than 30mg of THC. Released under the brand Aurora Cloud, Aurora Cannabis aims to launch full-spectrum, cannabinoid-based, vape-ready cartridge products in the future.
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Aurora Cannabis CEO Terry Booth remarked, “Being the first LP to launch a vape-ready CBD-rich product for the rapidly growing medical and wellness markets reflects our continued leadership in developing and rapidly commercializing product innovations, providing us with an important competitive advantage. We identified a significant unmet market need, and our technical and regulatory teams rapidly executed on this opportunity. We are very proud of this accomplishment by our teams, and will continue to leverage our leadership in executing on our strategy to develop a robust portfolio of high value-add, higher-margin products for all markets and jurisdictions that we participate in.”
In the beginning, Aurora Cannabis will focus on distribution of such products to medical patients. Subsequently, Aurora Cloud products will be available to the wellness segment of the adult use market. The CBD oil products will be produced at its Aurora Mountain facility, one of the two EU GMP certified production facilities of the Company. Aurora Cannabis is looking to introduce Aurora Cloud products to global markets as well where such products will be permitted.
Catering the unmet demand in medical marijuana market, Aurora Cannabis developed Aurora Cloud brand so as to offer flexibility in consumption of the cannabis. The production is based on proprietary extraction and processing techniques giving output of a vape-ready cartridge, which can be used with a generic 510 threaded vape battery pack.
The first batch of Aurora Cloud cannabis oil cartridges are made with non-gamma irradiated award-winning CBD flowers and will be initially sold in one-gram units, priced at C$75 per unit (C$52.50 per unit for compassionate pricing patients). Similar to other Aurora Cannabis products, Aurora Cloud cartridges come with publicly-available, independent laboratory analysis reports on cannabinoid potency, terpene profile, and pesticide and contaminant screening.
Aurora Cannabis stock currently trades at a market capitalization of C$13.43 billion with a price-to-book multiple of 5.1x.
Disclosure: Neither the author nor his family own shares in the company mentioned above.
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