By Eva Tomlin
Aurora Cannabis Inc. announced this week, its proposal to acquire Peloton Pharmaceuticals Inc. Aurora rescued Peloton from the jaws of bankruptcy earlier this week with and investment of $7,000,000 of cash and common shares of Aurora for distribution to creditors.
Peloton is constructing a 40,000 square foot cannabis production facility in Pointe Claire, which received a “ready to build” letter from Health Canada in 2014. The Company estimates that construction of the Peloton facility is 80% complete, and expects to be ready for Health Canada inspection pursuant to a License to Produce by the summer of 2017.
Aurora’s wholly-owned subsidiary, Aurora Cannabis Enterprises Inc., is a licensed producer of medical cannabis pursuant to Health Canada’s Access to Cannabis for Medical Purposes Regulations (ACMPR). The Company operates a 55,200 square foot, state-of-the-art production facility in Mountain View County, Alberta, and is currently constructing a second 800,000 square foot production facility, known as “Aurora Sky”, at the Edmonton International Airport. The Aurora Sky project has secured advanced technology from the most renowned design and construction suppliers in the Netherlands. Aurora’s common shares trade on the TSX-V under the symbol “ACB”.