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AURORA CANNABIS IN (OTCMKTS:ACBFF) And Radient Technologies Finalize Master Services Deal

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Further to the two firms’ joint press release issued in October, AURORA CANNABIS IN (OTCMKTS:ACBFF) and Radient Technologies Inc. reported the firms have signed a Master Services Deal, pursuant to which Radient has decided to perform definite services for Aurora utilizing its proprietary MAP™ technology, and other technologies, as an independent contractor pertaining to the advancement, commercialization and distribution of standardized cannabis extracts. The deal has a preliminary term of five years, with an alternative for Aurora to renew the deal for an additional 5 years.

The details

Under the terms of the deal, Radient will offer processing services to Aurora for the manufacturing of extracts from material delivered by the firm, which may include both hemp and cannabis. The deal initially comprises services delivered in the European Union, Canada and Australia and including Germany where company’s wholly owned subsidiary unit Pedanios is the leading supplier of medical cannabis on the continent.

In addition, Aurora has the privilege to discuss on an exclusive basis with Radient to grow the jurisdictions covered. Within the nations covered by the deal, Radient shall offer its services under preferential terms to company. Radient applied in last December to Health Canada to get Licensed Dealer status, and in this February for Licensed Producer status, and is advancing well through the procedures. Upon receipt of either certificate, Radient will be able to begin production of cannabis extracts from offerings supplied by Aurora or Aurora’s associates.

Terry Booth, the CEO of Aurora, expressed that this deal will allow them, in the very imminent future, to dramatically boost the manufacturing of high-margin cannabis derivatives under favorable terms.

The segment for non-smoked derivative cannabis offerings is growing at an extraordinary pace, and through this deal they have a scalable and cost-effective means to help fulfill this demand, especially once they start harvests in 1H2018 at company 100,000+ kg/annum Aurora Sky production facility. They plan to continue their collaboration with Radient on other R&D assignments that they anticipate will deliver considerable value to both companies.

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