John Bean Departing as CFO; Amy Stephenson Appointed as Interim CFO
CSE: ACB
VANCOUVER, Aug. 8, 2016 /CNW/ - Aurora Cannabis Inc. (CSE: ACB) (FRANKFURT: 21P) (WKN: A1C4WM) (OTCQB: ACBFF) ("Aurora" or the "Company") announced that CFO John Bean will be leaving the company to pursue other career interests. Mr. Bean will continue working with the Company until the end of August, 2016 to ensure a smooth transition.
"John has been instrumental in establishing a solid financial foundation for our business, including helping take our Company public, and it has been a pleasure to have him on our team," said Terry Booth, CEO.
The Company also announced that Amy Stephenson, who has been working with Aurora on a consulting basis since June, 2016, is joining the Company's management team effective immediately, and will be assuming the role of Interim CFO. Mrs. Stephenson is a seasoned financial executive with more than 20 years' experience in the capital markets, supporting developing companies through rapid growth phases and the transition to profitability, and advising on M&A strategy.
Mrs. Stephenson is the CFO of Branson Corporate Services Inc., where she provides strategic counsel, finance and compliance services to public companies. She possesses a wealth of experience in the Canadian cannabis sector, having served as CFO for Licensed Producer Bedrocan Canada Inc., and as Controller at Canopy Growth Corporation.
She has also worked as a business valuator at Evans & Evans, focusing on capital markets and M&A transactions. Her involvement as a principal and consultant focusing on M&A and project financing extends beyond North America to include Australia, China, Western Europe and Latin America. She is a CFA Charter holder, a Chartered Professional Accountant (CPA, CMA), a Board member of CFA Toronto, and a member of the Financial Executive International (FEI).
"I am very pleased to welcome Amy to Aurora, at an important and exciting moment in the Company's development," said Mr. Booth. "Her expertise in capital markets, strategic transactions and financial governance will further strengthen Aurora as we continue our rapid growth, prepare for significant capacity expansion, and continue to execute towards the near-term transition to profitable operations."
About Aurora
Aurora's wholly-owned subsidiary, Aurora Cannabis Enterprises Inc., is a licensed producer of medical marijuana pursuant to the Marihuana for Medical Purposes Regulations and operates a 55,200 square foot, expandable, state-of-the-art production facility in Mountain View County, Alberta, Canada. Aurora trades on the Canadian Securities Exchange under the symbol "ACB".
On behalf of the Board of Directors, AURORA CANNABIS INC.
Terry Booth, CEO
This news release contains statements about the Company's expectations regarding production capacity, production yields and other aspects of its anticipated future operations that are forward-looking in nature and, as a result, are subject to certain risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, undue reliance should not be placed on them as actual results may differ materially from the forward-looking statements. Such forward-looking statements are estimates reflecting the Company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such forward-looking statements. Such factors include but are not limited to the Company's ability to obtain the necessary financing and the general impact of financial market conditions, the yield from marijuana growing operations, product demand, changes in prices of required commodities, competition, government regulations and other risks set out in the Company's management's discussion and analysis filed on SEDAR. The forward-looking statements contained in this news release are made as of the date hereof, and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, except as required by law.