Aurora Cannabis Inc. announced that the company has signed a binding term sheet for the formation of a joint venture ("JV") with Alfred Pedersen & Søn (APS), pursuant to which Aurora will ultimately own a 51% interest in Aurora Nordic Cannabis A/S, the joint venture company, which is based in Odense, Denmark. Aurora and APS anticipate completing the final agreement shortly, governing the formation of the joint venture, subsequent to which Aurora Nordic will commence construction of an ALPS (Aurora Larssen Projects Ltd) designed, 1,000,000 square foot high-technology, fully automated cannabis production facility. APS received its license to cultivate cannabis from Lægemiddelstyrelsen, Denmark's Medicines Agency, effective January 1, 2018. This gives Aurora Nordic a major advantage as one of few companies with a license to cultivate in Europe. The new facility will be largely similar to Aurora's facility, Aurora Sky, with a projected production capacity in excess of 120,000 kg per annum. Construction will be phased, with cultivation commencing upon completion of the first 200,000 square feet, which is anticipated in the third quarter of calendar 2018. The new facility, upon completion, would establish Aurora Nordic as the continent's largest producer of cannabis.