TORONTO, June 07, 2019 — Aura Health Inc. (the “Company” or “Aura”) (CSE:BUZZ) wishes to clarify the nature of the supply arrangement by which Pharmadrug Production GmbH (“Pharmadrug”) is importing and distributing cannabis to pharmacies in Germany.
In a press release dated June 5th, 2019, the Company announced that Pharmadrug has ordered its second cannabis shipment from Bedrocan International B.V. (“Bedrocan”) and in a press release dated May 17th, 2019, the Company announced that Pharmadrug has supply agreements in place with Bedrocan. The Company wishes to clarify that Pharmadrug has no contractual relationship or supply agreements with Bedrocan. Pharmadrug has a supply relationship with The Netherlands Office of Medicinal Cannabis, to whom Bedrocan Netherlands, a wholly owned subsidiary of Bedrocan, acts as the exclusive supplier of medical cannabis.
The Company is excited to continue importing cannabis from the Netherlands and selling into the German market as it believes there is a tremendous opportunity to capitalize on favorable supply and demand dynamics.
About Aura Health Inc.
Aura Health is building an international network of vertically-integrated cannabis assets. The Company owns 80% of Pharmadrug, a German medical cannabis distributor, a convertible note to 54% of HolyCanna, a cultivation and nursery license holder in Israel, and has a binding LOI to purchase 57% of CannabiSendak, the builder of a network of dispensaries in Israel. Additionally, through significant extraction IP, Aura is dedicated to building a high-margin, downstream business of end-user products.
For further information, please contact:
Daniel Cohen, CEO
Aura Health Inc.
(647) 202-1824
David Posner, Chairman
Aura Health Inc.
(647) 985-6727
Deborah Honig, Investor Relations
Adelaide Capital Markets
(647) 203-8793
Caution Regarding Forward-Looking Information:
THE CANADIAN SECURITIES EXCHANGE HAS NOT REVIEWED NOR DOES IT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
This news release may contain forward-looking statements and information based on current expectations. These statements should not be read as guarantees of future performance or results of Aura. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Such statements include reference to Aura’s marketing campaign, and the effectiveness of CanaCom, among others. There is no certainty that any of these events will occur. Although such statements are based on management’s reasonable assumptions, there can be no assurance that such assumptions will prove to be correct. We assume no responsibility to update or revise them to reflect new events or circumstances.
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