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Annual financial results 2018; Bosch in North America registers healthy growth

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Region records highest sales in history

  • $14.5 billion in sales in North America
  • Bosch invests more than $500 million in region in 2018
  • Number of associates increases to 35,400
  • Bosch to reduce carbon footprint to zero at its 400 locations around
    the globe by 2020

FARMINGTON HILLS, Mich.–(BUSINESS WIRE)–Bosch, a leading global supplier of technology and services, ended its
2018 fiscal year with $14.5 billion (12.3 billion euros) in consolidated
sales in North America, thus registering healthy growth of 6% compared
with the previous year’s sales.

“North America continues to be an important market for Bosch, with sales
equaling 16% of Bosch’s total sales,” said Mike Mansuetti, president of
Bosch in North America. “In 2019 we expect a moderate increase in sales
across all Bosch business sectors in North America, despite an expected
cooling of the North American economy and the mobility market,
specifically.”

The number of associates employed at Bosch in North America in 2018 rose
to 35,400, a year-over-year increase of more than 2.5%. This number is
expected to remain at a similar level in 2019.

Continuous investment in North America

Bosch invested more than $500 million in North America in 2018. The
investment, primarily for Bosch’s Mobility Solutions business sector,
went toward expanding manufacturing operations, including new equipment.
In addition to expansions of Mobility Solutions plants in Charleston and
Anderson, South Carolina, as well as a dishwasher plant and central
distribution center in New Bern, North Carolina, the company is
investing $120 million in a new plant in Celaya, in the Mexican state of
Guanajuato. The approximately 225,000-square-foot facility will
manufacture electronic control units – key components for connected
mobility – for the American market. In November 2018, Bosch opened a new
technology and innovation hub in Guadalajara, Jalisco, Mexico.

Bosch expects to invest a similar amount in North America in 2019.

Positive development across all Bosch business sectors

Bosch’s four business sectors – Mobility Solutions, Industrial
Technology, Consumer Goods, and Energy and Building Technology – all saw
growth in North America in 2018.

Mobility Solutions is Bosch’s largest business sector. With sales
of $9.5 billion in 2018, the sector accounted for 66% of Bosch’s North
American sales.

Bosch
and Daimler announced last year
that San José, California, would
become the pilot city for an automated driving on-demand ride-hailing
service. With their joint development work, Bosch and Daimler aim to
improve the flow of traffic in cities, enhance road safety, and provide
an important building block for the way traffic will work in the future.

Continuing to build its capabilities in the area of mobility services, Bosch
invested in Mojio
, a technology platform and SaaS provider for
connected cars. Bosch and Mojio also signed an innovation agreement to
co-develop a suite of advanced connected car services. At
CES 2019
, the organizations announced their first connected mobility
joint development, an IoT-integrated emergency response solution.

Bosch also announced
a strategic technology partnership with SiTime Corp.
to accelerate
innovation in micro-electro-mechanical systems timing. SiTime will work
with Bosch to develop processes for next-generation MEMS resonator
products. These MEMS resonators enable higher speeds of 5G, long battery
life of IoT devices and increased reliability of driver assistance
systems.

Consumer Goods, at $2.6 billion in sales, composed 18% of sales
in North America. In this sector, Bosch is known for its home appliances
and power tools.

Bosch Home Appliances recently
announced that it is expanding its Home Connect™ kitchen suites lineup

with new connected refrigeration, wall ovens, induction cooktops and
ventilation. Features include Amazon Alexa voice-control interface,
security through remote monitoring, and interaction with digital and
physical products from the robust Home Connect partner ecosystem.

In the power tool market, Bosch continues to solve problems for its
users. For example, Bosch
Nail Strike
is the first wood-boring bit to withstand nail hits – as
many as 30 per bit.

Industrial Technology’s $1.5 billion in sales equates to 10% of
Bosch’s North American sales in 2018. The sector has long been focused
on Industry 4.0, or Connected Industry. Exchanging information among
people, machines, parts and products shows how Bosch uses its expertise
across software, sensors and services to improve operations.

Bosch
Rexroth’s Factory of the Future
offers remarkable adaptability, with
the walls, floor and ceiling of the facility remaining fixed, while
everything else inside the factory is mobile. Assembly lines are
modular, with machines that move and reorganize themselves for each
application. Wireless power and data communications are delivered to
each machine through the factory’s intelligent floor. Bosch is in a
unique position as both a key developer as well as a key user of this
technology, so this vision is already reality in many of Bosch Rexroth’s
plants today.

Energy and Building Technology’s sales, at $900 million, reflect
6% of the total sales in North America.

Bosch
recently launched a fixed-dome security camera series
with wireless
remote commissioning capabilities, allowing the use of an app to
position the camera once it has been mounted. Installation and setup
time are reduced by up to 75%.

At the Smart
Columbus Experience Center
in Ohio, Bosch shows how intelligent
sensors can be used to create safer and more sustainable ecosystems.
Using Video as a Sensor technology, Intelligent
Video Analytics
classifies and counts pedestrians, bicyclists, cars
and trucks at intersections, on highways and at curbs in order to
measure traffic flow and detect lane changes and pedestrians in the
crosswalk. This technology has the potential to improve not only traffic
efficiency but also safety.

Research and Development

Last fall, Bosch announced a research partnership with Astrobotic
Technology Inc. to
send experimental sensor technology, called SoundSee, to the
International Space Station (ISS)
as early as this year. Bosch’s
SoundSee technology is a deep audio analytics capability that uses a
custom array of microphones and machine learning to extract actionable
information out of noise patterns. SoundSee’s analytics will investigate
whether audio data from machines and equipment onboard the ISS can be
analyzed to detect anomalies and improve Space Station operations.

Bosch is building up a team of leading AI experts at its Pittsburgh
Technology Center. The Bosch
Center for Artificial Intelligence Research Lab opened
there last
year to conduct advanced research in AI technologies. Bosch also
announced at that time that it would provide more than $8 million to
sponsor AI research at Carnegie Mellon University. The BCAI Research Lab
is the second BCAI location in the U.S. Established in 2017, the BCAI
initially brought together global expertise from Sunnyvale, California;
Bengaluru, India; and Renningen, Germany, to deploy cutting-edge AI
technologies across Bosch products and services.

Climate action and air-quality measures

One of Bosch’s values is responsibility and sustainability. Bosch is
intensifying its efforts to combat climate change and improve air
quality. Bosch in North America is committed to Bosch
Global’s initiative to be climate-neutral
as early as 2020.

At the annual press conference in Renningen, Germany, Dr. Volkmar
Denner, chairman of the board of management of Robert Bosch GmbH, said,
“Climate change is not science fiction; it’s really happening. If we are
to take the Paris Agreement seriously, then climate action needs to be
seen not just as a long-term aspiration. It needs to happen in the short
term.” He added, “We’re also committed to meeting public demand for good
air quality in cities. As an innovation leader, we want to deliver
technological solutions to ecological problems.”

An example of these efforts to reduce its CO2 output is in
San Luis Potosi, Mexico. There, power sourced from the Dominica wind
farm covers more than 80% of the energy requirements of all Bosch
locations in Mexico. And in Charleston, South Carolina, Bosch is using
tools like the Bosch Energy Platform to identify high-energy-usage
equipment and deviations from known benchmarks. In this way the
Charleston site has reduced carbon emissions by more than 30% in the
last decade, even while increasing production output.

Ongoing commitment to communities

As part of its culture, Bosch has a history of investing in the
community. This care for the community is exemplified both in funding
and in volunteering.

The Bosch Community Fund has awarded nearly $25 million in grants to
educational institutions and non-profit organizations since 2012. The
U.S.-based foundation focuses on the enrichment of science, technology,
engineering and math (STEM) education and environmental sustainability.
Building on a seven-year program, the Bosch Community Fund now awards
grants in 45 communities where Bosch is located.

Many Bosch associates throughout the U.S. volunteer with STEM programs
in their communities. A good example of this is FIRST® (For
Inspiration and Recognition of Science and Technology). Bosch
began supporting FIRST in 2008 and has continued to increase its
investment. Total investment is now more than $700,000 annually, and Bosch
committed to becoming a FIRST Strategic Partner in 2018
. In
addition, more than 120 Bosch associates will volunteer more than 30,000
hours this season, mentoring students on 115 robotics teams.

The focus on providing STEM experiences to families continues through “The
Bosch Experience, Powered by Mind Trekkers.”
Through this
partnership with Michigan Technological University’s Mind Trekkers
student group, the team brought science and technology to several
science festivals near Bosch locations in the U.S., bringing science to
life and providing children with role models for careers in STEM.

Bosch Group outlook 2019

The Bosch Group expects global economic development to be subdued in
2019. Despite the difficult environment in industries and regions that
are important for the company, Bosch expects its sales in the current
year to slightly exceed their 2018 levels.

About Bosch

Having established a regional presence in 1906 in North America, the
Bosch Group employs 35,400 associates in more than 100 locations, as of
December 31, 2018. In 2018 Bosch generated consolidated sales of $14.5
billion in the U.S., Canada and Mexico. For more information, visit
twitter.com/boschusa,
twitter.com/boschmexico
and
www.bosch.ca.

The Bosch Group is a leading global supplier of technology and
services. It employs roughly 410,000 associates worldwide (as of
December 31, 2018). The company generated sales of 78.5 billion euros
($92.7 billion) in 2018. Its operations are divided into four business
sectors: Mobility Solutions, Industrial Technology, Consumer Goods, and
Energy and Building Technology. As a leading IoT company, Bosch offers
innovative solutions for smart homes, smart cities, connected mobility,
and connected manufacturing. It uses its expertise in sensor technology,
software, and services, as well as its own IoT cloud, to offer its
customers connected, cross-domain solutions from a single source. The
Bosch Group’s strategic objective is to create solutions for a connected
life. Bosch improves quality of life worldwide with products and
services that are innovative and spark enthusiasm. In short, Bosch
creates technology that is “Invented for life.” The Bosch Group
comprises Robert Bosch GmbH and its roughly 460 subsidiary and regional
companies in over 60 countries. Including sales and service partners,
Bosch’s global manufacturing, engineering, and sales network covers
nearly every country in the world. The basis for the company’s future
growth is its innovative strength. At nearly 130 locations across the
globe, Bosch employs some 68,700 associates in research and development.

Additional information is available online at www.bosch.com,
www.iot.bosch.com,
www.bosch-press.com,
www.twitter.com/BoschPresse.

Exchange rate: 1 EUR = $1.1811

Contacts

Alissa Cleland
Phone: +1 248-876-1587
[email protected]

Linda Beckmeyer
Phone: +1 248-876-2046
[email protected]

Tim Wieland
Phone: +1 248-876-0288
[email protected]


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Cannabis

4D Printing in Healthcare Market is Valued at USD 179.7 Million by 2034 with CAGR of 30.7%, Innovating Patient Care with Dynamic Prototyping – By PMI

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IMC Announces Potential Reverse Merger with Kadimastem a leading Clinical cell therapy company

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Not for distribution to United States newswire services or for dissemination in the United States

TORONTO and GLIL YAM, Israel, Feb. 28, 2024 /PRNewswire/ — IM Cannabis Corp. (CSE: IMCC) (NASDAQ: IMCC) (the “Company” or “IMC“), a leading medical cannabis company with operations in Israel and Germany, is pleased to announce that it has entered into a non-binding term sheet dated February 13, 2024, as amended (the “Term Sheet“), and a Loan Agreement (as defined below) with Holding Company (as defined below), with Israel-based Kadimastem Ltd a clinical cell therapy public company traded on the Tel Aviv Stock Exchange under the symbol (TASE: KDST) (“Kadimastem“), whereby the parties will complete a business combination that will constitute a reverse merger into the Company by Kadimastem (the “Proposed Transaction“).

 

 

We have been looking for a way to deliver maximum value for our shareholders in the current situation and believe that a reverse merger with Kadimastem will provide this,” said Oren Shuster, CEO of IMC. “With its focus on clinical stage cell therapy, and an FDA approval for a Phase IIa clinical trial, we believe that Kadimastem has tremendous potential.”

“Kadimastem’s strategic decision to pursue a NASDAQ listing underscores our commitment to maximizing the potential of our diabetes and ALS product candidates,” said Ronen Twito, Kadimastem’s Executive Chairman of the Board. “This move positions us closer to our target markets in the US, leverages our recent FDA approvals to initiate a Phase IIa multi-site clinical trial in the US for our ALS product candidate and the joint development of a diabetes product with our Florida-based partner, a multi-billion dollar market. We strongly believe this comprehensive strategy will create significant value to the company’s shareholders”.

The Proposed Transaction

The Proposed Transaction will be effected by way of a plan of arrangement involving a newly created wholly-owned subsidiary of IMC and Kadimastem (the “Arrangement“). The resulting issuer that will exist upon completion of the Proposed Transaction (the “Resulting Issuer“) will change its business from medical cannabis to biotechnology and, at the closing of the Proposed Transactions (the “Closing”), Kadimastem  shareholders will hold 88% of the common shares of the Resulting Issuer (the “Resulting Issuer Shares“) and the shareholders of the Company will hold 12% of the Resulting Issuer Share. Parties may agree, in the Definitive Agreement, on a different structure of equity in lieu of the warrants (as described below) with a similar result. The Proposed Transaction is an arm’s length transaction.

Prior to Closing, IMC’s existing medical cannabis operation and other current activities in Israel and Germany (the “Legacy Business“) will be restructured (the “Spin-Out“) as a contingent value right (the “CVR“). The CVR will entitle the holders thereof to receive net cash, equity, or other net value upon the sale of the Legacy Business following the Closing, subject to the terms of the Loan Agreement.

To facilitate the sale of the Legacy Business, a special committee of IMC’s Board of Directors was formed, which will oversee the potential sale in collaboration with legal and financial advisors.

The Legacy Business will be made available for potential sale to a third party for a period of up to 12 months from Closing (the “Record Date“). After the Record Date, any remaining Legacy Business in the CVR will be offered for sale through a tender process, subject to the terms of the best offer. The proceeds from the sale of the Legacy Business will be utilized to settle debts and distribute the remaining balance, if any, to CVR holders.

As a condition of Closing, Kadimastem will have approximately $5 million in gross funds, at Closing including capital raised concurrently with the completion of the Proposed Transaction from existing shareholders and additional investors.

In addition to the foregoing, subject to compliance with applicable law, the Company shall grant shareholders of the Company as of Closing, with warrant(s) equal their pro rata portion, of 2% of the Resulting Issuer’s issued and outstanding common share capital (the “IMC Shares“) prior to the Closing Date (in the aggregate), with an exercise price per share equal to the 10 day volume-weighted average price of the Resulting Issuer’s shares calculated on the NASDAQ Capital Market (“Nasdaq“), ending 2 trading days prior to Closing, the warrants will be for a period of 24 months following Closing.

Description of Kadimastem and its Business

Kadimastem is a clinical stage cell therapy company, Kadimastem’s recently reported receipt of FDA approval for a Phase IIa multi-site clinical trial in the US for the treatment of ALS, and the joint development agreement signed with iTolerance Inc., a Florida based company with a product in the field of diabetes which recently have a successful joint INTERCT meeting with the FDA.

Exchange of Securities

In accordance with the terms of the Proposed Transaction, the holders of the issued and outstanding shares in the capital of Kadimastem (the “Kadimastem Shares“) will be issued such number of IMC Shares in exchange for every one (1) Kadimastem Share held immediately prior to the completion of the Proposed Transaction that reflects the ratio outlined above (the “Exchange Ratio“). Outstanding convertible securities of Kadimastem (the “Kadimastem Convertible Securities“) will be treated through customary mechanics as shall be determined in the definitive agreement, which may include, the assumption of the Kadimastem Convertible Securities by IMC subject to customary adjustments to reflect the Exchange Ratio and exercise price.

Loan Agreement

Pursuant to the terms of the Term Sheet, a loan agreement dated February 28, 2024 (the “Loan Agreement“) was entered between IMC Holdings Ltd. a wholly-owned subsidiary of IMC (the “Holding Company“) and Kadimastem. Pursuant to the Loan Agreement, Kadimastem will provide a loan of up to US$650,000 to the Holding Company, funded in two installments: US$300,000 upon signing the Loan Agreement and US$350,000 upon the execution of the definitive agreement regarding the Proposed Transaction (the “Loan“).

The Loan accrues interest at a rate of 9.00% per annum, compounding annually and is secured by the following collaterals and guarantees: (a) 10% of the proceeds derived from any operation sale under the CVR (“Charged Rights”), limited to the outstanding Loan Amount and expenses according to the Loan Agreement, accordingly Holding Company may, at its sole discretion, to record a second-ranked fixed charge over the Charged Rights or, alternatively, in case the existing pledges over the Charged Rights at the date of signing this Loan Agreement are subsequently discharged or removed, then the Borrower shall promptly record a first-ranking fixed charge over the Charged Assets with all applicable public records; provided that Holding Company shall not impose any new lien, mortgage, charge or pledge over the Charged Rights that did not exist on the date hereof, or any other liens, subject to customary exclusions; (b) the Holding Company shall use its best efforts to record a first-ranking fixed charge over the assets of its subsidiary, A.R Yarok Pharm Ltd, in due course when applicable and as deemed appropriate; and (c) a personal guarantee by Mr. Oren Shuster, IMC’s CEO.

IMC Shareholder Meeting

Prior to the completion of the Proposed Transaction, IMC will call a meeting of its shareholders for the purpose of approving, among other matters:

  • approve the Proposed Transaction;
  • approve the Spin-Out;
  • a change of name of the Company as directed by Kadimastem and acceptable to the applicable regulatory authorities effective upon Closing; and
  • reconstitution of the Company’s board of directors.

Management of the Resulting Issuer

Upon closing of the Proposed Transaction, all of IMC’s current directors and executive officers will resign and the board of directors of the Resulting Issuer will, subject to the approval of governing regulatory bodies, consist of nominees of Kadimastem. All of the executive officers shall be replaced by nominees of Kadimastem, all in a manner that complies with the requirements of governing regulatory bodies and applicable securities and corporate laws.

Details of insiders and proposed directors and officers of the Resulting Issuer will be disclosed in a further news release.

Closing Conditions

The completion of the Proposed Transaction is subject to a number of conditions, including but not limited to the following:

  • the execution of a definitive agreement;
  • completion of mutually satisfactory due diligence;
  • completion of the Share Consolidation; and
  • receipt of all required regulatory, corporate and third party approvals, including approvals by governing regulatory bodies, the shareholders of IMC and Kadimastem, applicable Israeli governmental authorities, and the fulfilment of all applicable regulatory requirements and conditions necessary to complete the Proposed Transaction.

The parties are committed to seeking a successful completion of the Proposed Transaction as soon as practicable, but there can be no absolute certainty that the Proposed Transaction will take place.

Further information

Further details about the Proposed Transaction and the Resulting Issuer will be provided in a comprehensive news release when the parties enter into the definitive agreement.

Investors are cautioned that any information released or received with respect to the Proposed Transaction in this press release may not be complete and should not be relied upon. Trading in the common shares of the Company should be considered highly speculative.

The securities to be issued in connection with the Proposed Transaction have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons (as defined in Regulation S promulgated under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

Completion of the Proposed Transaction is subject to a number of conditions, including but not limited to, Canadian Securities Exchange (“CSE”) and NASDAQ acceptance and if applicable, disinterested shareholder approval. Where applicable, the Proposed Transaction cannot close until the required shareholder approval is obtained. There can be no assurance that the Proposed Transaction will be completed as proposed or at all.

Investors are cautioned that, except as disclosed in the management information circular or filing statement to be prepared in connection with the Proposed Transaction, any information released or received with respect to the Proposed Transaction may not be accurate or complete and should not be relied upon

About IM Cannabis Corp.

IMC (Nasdaq: IMCC) (CSE: IMCC) is an international cannabis company that provides premium cannabis products to medical patients in Israel and Germany, two of the largest medical cannabis markets. The Company has recently exited operations in Canada to pivot its focus and resources to achieve sustainable and profitable growth in its highest value markets, Israel and Germany. The Company leverages a transnational ecosystem powered by a unique data-driven approach and a globally sourced product supply chain. With an unwavering commitment to responsible growth and compliance with the strictest regulatory environments, the Company strives to amplify its commercial and brand power to become a global high-quality cannabis player.

The IMC ecosystem operates in Israel through its commercial relationship with Focus Medical Herbs Ltd., which imports and distributes cannabis to medical patients, leveraging years of proprietary data and patient insights. The Company also operates medical cannabis retail pharmacies, online platforms, distribution centers, and logistical hubs in Israel that enable the safe delivery and quality control of IMC’s products throughout the entire value chain. In Germany, the IMC ecosystem operates through Adjupharm GmbH, where it distributes cannabis to pharmacies for medical cannabis patients. Until recently, the Company also actively operated in Canada through Trichome Financial Corp and its wholly owned subsidiaries, where it cultivated, processed, packaged, and sold premium and ultra-premium cannabis at its own facilities under the WAGNERS and Highland Grow brands for the adult-use market in Canada. The Company has exited operations in Canada and considers these operations discontinued.

About Kadimastem Ltd.

Kadimastem is a clinical stage cell therapy company, developing “off-the-shelf”, allogeneic, proprietary cell products based on its technology platform for the expansion and differentiation of Human Embryonic Stem Cells (hESCs) into functional cells. AstroRx®, Kadimastem ‘s lead product, is an astrocyte cell therapy in clinical development for the treatment for ALS and in pre-clinical studies for other neurodegenerative indications.

IsletRx is Kadimastem ‘s treatment for diabetes. IsletRx is comprised of functional pancreatic islet cells producing and releasing insulin and glucagon, intended to treat and potentially cure patients with insulin-dependent diabetes. Kadimastem was founded by Professor Michel Revel, CSO of Kadimastem and Professor Emeritus of Molecular Genetics at the Weizmann Institute of Science. Professor Revel received the Israel Prize for the invention and development of Rebif®, a multiple sclerosis blockbuster drug sold worldwide. Kadimastem is traded on the Tel Aviv Stock Exchange (TASE: KDST).

For more information, please contact:

IM Cannabis Corp.
Anna Taranko, Director Investor & Public Relations
IM Cannabis Corp.
+49 157 80554338
[email protected] 

Oren Shuster, Chief Executive Officer
IM Cannabis Corp.
[email protected] 

Disclaimer for Forward-Looking Statements

This press release contains forward-looking information or forward-looking statements under applicable Canadian and U.S. securities laws (collectively, “forward-looking statements”). All information that addresses activities or developments that we expect to occur in the future are forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as “seek”, “anticipate”, “believe”, “plan”, “estimate”, “expect”, “likely” and “intend” and statements that an event or result “may”, “will”, “should”, “could” or “might” occur or be achieved and other similar expressions. Forward-looking statements are based on the estimates and opinions of management on the date the statements are made. In the press release, such forward-looking statements include, but are not limited to, statements regarding: the parties’ ability to complete the Proposed Transaction; the expected terms of the Proposed Transaction, the number of securities of the Company that may be issued in connection with the Proposed Transaction, the ownership ratio of the Resulting Issuer post-closing, the Loan and Spin-Out, the ability of the Company and Kadimastem to receive the requisite approvals of all regulatory bodies having jurisdiction in connection with the Proposed Transaction; and the ability of the Resulting Issuer to fulfill the listing requirements of the CSE and Nasdaq;

Forward-looking information in this news release are based on certain assumptions and expected future events, namely: the Company’s ability to continue as a going concern; continued approval of the Company’s activities by the relevant governmental and/or regulatory authorities; the continued growth of the Company; the Company’s ability to finance the completion of the Proposed Transaction; and the ability of the Resulting Issuer to fulfil the listing requirements of the CSE and Nasdaq

These statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements, including but not limited to: the potential inability of the Company to continue as a going concern; risks associated with potential governmental and/or regulatory action with respect to the Company’s and/or Kadimastem’s operations; the Company’s inability to complete the Proposed Transaction; the inability of the Company and the Target to receive the requisite approvals of all regulatory bodies having jurisdiction in connection with the Proposed Transaction; and the risks associated with the Resulting Issuer’s ability to meet CSE and Nasdaq listing requirements.

Readers are cautioned that the foregoing list is not exhaustive. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated or implied by such forward looking statements due to a number of factors and risks. These include: any failure of the Company to maintain “de facto” control over Focus Medical in accordance with IFRS 10; the failure of the Company to comply with applicable regulatory requirements in a highly regulated industry; unexpected changes in governmental policies and regulations in the jurisdictions in which the Company operates; the effect of the reform on the Company; the Company’s ability to continue to meet the listing requirements of the CSE and NASDAQ; any unexpected failure to maintain in good standing or renew its licenses; the ability of the Company and Focus Medical (collectively, the “Group”) to deliver on their sales commitments or growth objectives; the reliance of the Group on third-party supply agreements to provide sufficient quantities of medical cannabis to fulfil the Group’s obligations; the Group’s possible exposure to liability, the perceived level of risk related thereto, and the anticipated results of any litigation or other similar disputes or legal proceedings involving the Group; the impact of increasing competition; any lack of merger and acquisition opportunities; adverse market conditions; the inherent uncertainty of production quantities, qualities and cost estimates and the potential for unexpected costs and expenses; risks of product liability and other safety-related liability from the usage of the Group’s cannabis products; supply chain constraints; reliance on key personnel; the risk of defaulting on existing debt and war, conflict and civil unrest in Eastern Europe and the Middle East.

Any forward-looking statement included in this press release is made as of the date of this press release and is based on the beliefs, estimates, expectations and opinions of management on the date such forward-looking information is made.

The Company does not undertake any obligation to update forward-looking statements except as required by applicable securities laws. Investors should not place undue reliance on forward-looking statements. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement.

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Aurora Partners with Script Assist to Provide Better Access to UK Medical Cannabis

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                                                                                                        NASDAQ | TSX: ACB

Partnership will empower UK patients with valuable information and guidance critical to a successful cannabis experience  

EDMONTON, AB, Feb. 28, 2024 /PRNewswire/ — Aurora Cannabis Inc. (NASDAQ: ACB) (TSX: ACB), the Canadian based leading global medical cannabis company, today announced the partnership of Aurora Medicine UK Ltd with Script Assist, a cutting-edge medical cannabis prescription platform in the UK.

Designed to support UK patients on their journey of well-being, the Script Assist platform provides access to high quality medication through their portal. Script Assist will make available an extensive range of medical cannabis products from Aurora’s leading portfolio of products. Starting in March three newly launched, high-quality hang-dried and hand-processed flower products from Aurora’s EU GMP facilities in Canada will also become available on www.scriptassist.co.uk: Pedanios 26/1 EHD-CA (Cultivar: Electric Honey Dew) and Pedanios 28/1 CMK-CA (Cultivar: Chemango Kush) with a high THC content, as well as Pedanios 10/10 EQI-CA (Cultivar: Equiposa) with balanced THC/CBD content.

“Together with our new partner, we are committed to further improve the UK medical cannabis landscape by providing patients with access to premium, high-quality products through Script Assist’s innovative technology solution,” said Trisha Cassidy, Managing Director, Aurora UK & Ireland. “We believe it is necessary and critical to expand not only access to products, but also provide valuable information to guide patients through their medical cannabis journey. We are proud to be a trusted partner for their health,” said Cassidy.

Within the platform, Script Assist is launching ‘Find a Doctor’, an easy-to-use app, which seamlessly connects patients with specialist prescribing doctors. The full range of Aurora’s medical cannabis products will be available for patients through prescription by all private doctors and clinics using the platform, transforming the UK medical cannabis prescription journey.

About Script Assist 

Script Assist revolutionises the medical cannabis prescription process in the UK by enabling private doctors and clinics to provide an easy-to-use app to their patients, including features such as transparent payment and tracking alongside live inventory levels for seamless in-app repeat requests. With the launch of its “Find a Doctor” feature, for the first time UK patients can effortlessly choose their own private doctor and then access fully streamlined medical cannabis prescriptions. The app can be accessed via the platform www.scriptassist.co.uk.

About Aurora Cannabis

Aurora is opening the world to cannabis, serving both the medical and consumer markets. Headquartered in Edmonton, Alberta, Aurora is a pioneer in global cannabis, dedicated to helping people improve their lives. The Company’s adult-use brand portfolio includes Aurora Drift, San Rafael ’71, Daily Special, Tasty’s, Being and Greybeard. Medical cannabis brands include MedReleaf, CanniMed, Aurora and Whistler Medical Marijuana Co, as well as international brands, Pedanios, Bidiol and CraftPlant. Through its subsidiary Aurora Europe GmbH, Aurora supplies high-quality medical cannabis products to patients in the German, Polish and UK markets among others, making it one of the largest authorized importers and distributors in the European Union & UK. Aurora also has a controlling interest in Bevo Farms Ltd., North America’s leading supplier of propagated agricultural plants. Driven by science and innovation, and with a focus on high-quality cannabis products, Aurora’s brands continue to break through as industry leaders in the medical, performance, wellness and adult recreational markets wherever they are launched. Aurora carries out its operations in compliance with all applicable laws in the countries in which it operates. Learn more at www.auroramj.com and follow us on X and LinkedIn.

Aurora’s common shares trade on the Nasdaq and TSX under the symbol “ACB” and is a constituent of the S&P/TSX Composite Index.

Forward Looking Information

This news release includes statements containing certain “forward-looking information” within the meaning of applicable securities law (“forward-looking statements“). Forward-looking statements are frequently characterized by words such as “plan”, “continue”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “may”, “will”, “potential”, “proposed” and other similar words, or statements that certain events or conditions “may” or “will” occur. Forward-looking statements made in this news release include statements regarding the Company’s partnership with Script Assist, including with respect to the availability of the Company’s medical cannabis products for patients in the UK and the Company’s continued commitment to further improve the UK medical cannabis landscape.

These forward-looking statements are only predictions. Forward looking information or statements contained in this news release have been developed based on assumptions management considers to be reasonable. Material factors or assumptions involved in developing forward-looking statements include, without limitation, publicly available information from governmental sources as well as from market research and industry analysis and on assumptions based on data and knowledge of this industry which the Company believes to be reasonable. Forward-looking statements are subject to a variety of risks, uncertainties and other factors that management believes to be relevant and reasonable in the circumstances could cause actual events, results, level of activity, performance, prospects, opportunities or achievements to differ materially from those projected in the forward-looking statements. These risks include, but are not limited to, the ability to retain key personnel, the ability to continue investing in infrastructure to support growth, the ability to obtain financing on acceptable terms, the continued quality of our products, customer experience and retention, the development of third party government and non-government consumer sales channels, management’s estimates of consumer demand in Canada and in jurisdictions where the Company exports, expectations of future results and expenses, the risk of successful integration of acquired business and operations (with respect to the Transaction and more generally with respect to future acquisitions), management’s estimation that SG&A will grow only in proportion of revenue growth, the ability to expand and maintain distribution capabilities, the impact of competition, the general impact of financial market conditions, the yield from cannabis growing operations, product demand, changes in prices of required commodities, competition, and the possibility for changes in laws, rules, and regulations in the industry, epidemics, pandemics or other public health crises, including the current outbreak of COVID-19, and other risks, uncertainties and factors set out under the heading “Risk Factors” in the Company’s annual information from dated June 14, 2023 (the “AIF”) and filed with Canadian securities regulators available on the Company’s issuer profile on SEDAR+ at www.sedarplus.com and filed with and available on the SEC’s website at www.sec.gov. The Company cautions that the list of risks, uncertainties and other factors described in the AIF is not exhaustive and other factors could also adversely affect its results. Readers are urged to consider the risks, uncertainties and assumptions carefully in evaluating the forward-looking statements and are cautioned not to place undue reliance on such information. The Company is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities law.

Logo – https://mma.prnewswire.com/media/2349698/Aurora_Cannabis_Inc__Aurora_Partners_with_Script_Assist_to_Provi.jpg

Contact: For Media: Michelle Lefler, VP, Communications & PR, [email protected]; For Investors: ICR, Inc., [email protected]   

                                                      

Cision View original content:https://www.prnewswire.co.uk/news-releases/aurora-partners-with-script-assist-to-provide-better-access-to-uk-medical-cannabis-302074112.html

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