Here’s the press release
Creating a Turnkey Cannabis Cultivation Powerhouse – ALPS (Aurora Larssen Projects Inc.)
VANCOUVER, Nov. 23, 2017 /CNW/ – Aurora Cannabis Inc. (the “Company” or “Aurora”) (TSX: ACB) (OTCQX: ACBFF) (Frankfurt: 21P; WKN: A1C4WM) announced today that the Company has signed a definitive agreement for the acquisition of 100% of the issued and outstanding shares (the “Acquisition”) of Larssen Ltd (“Larssen”). The terms of the transaction are undisclosed, but include performance-based milestone payments, such as those related to profitability metrics, as well as certain Aurora standards.
Larssen, a Canadian company that has set the industry standard in high-tech, automated, environmentally controlled greenhouses for over 30 years, has consulted on the design, engineering, and construction oversight of many of the world’s most advanced greenhouse cultivation facilities. Best known for the successful implementation of cutting-edge automation features, proprietary design characteristics that generate exceptional yields, and the use of advanced energy efficient materials and technologies, Larssen has been involved with over 1,000 projects around the globe.
Following a thorough review process, Aurora selected Larssen to design, engineer, and oversee construction of its Aurora Sky facility, which upon completion is expected to be the largest capacity and most technologically advanced cannabis facility in the world, producing ultra-low cost, premium-quality cannabis. Larssen is currently involved with over 15 cannabis industry clients globally, including 5 Canadian licensed producers. The Canadian deals will be vetted by the Company’s management team. Any Canadian project deemed not to be in the best interest of Aurora shareholders will be notified that ALPS will no longer participate in such project. We expect this process to take no longer than 3 weeks.
Upon completion of the transaction, Larssen will be integrated into a newly incorporated subsidiary, Aurora Larssen Projects Ltd. (“ALPS”), focused on providing a unique turn-key service offering to Aurora and its domestic and international partners, that will over time provide 360-degree solutions for facility design, engineering, construction, support, maintenance, security, regulatory support, cultivation, genetics, as well as provide consulting and assistance in regard to meeting requirements for GACP cultivation and EU GMP certification.
Thomas Larssen, the principal of Larssen, will serve as President of ALPS and will continue to oversee Aurora’s cultivation infrastructure expansion. Management anticipates that the growth of ALPS will be driven by the continued rapid evolution of the cannabis industry in Canada and around the globe.
