Specialized Extraction Company Radient Technologies signs MOU with Licensed Producer Aurora Cannabis - Video News Alert on Investmentpitch.com

December 15, 2016 1:54 PM EST | Source: InvestmentPitch Media

Vancouver, British Columbia--(Newsfile Corp. - December 15, 2016) - Specialized extraction company, Radient Technologies, (TSXV: RTI) has signed a Memorandum of Understanding with Aurora Cannabis. The two parties are evaluating an exclusive partnership for the joint development and commercialization of superior and standardized cannabinoid extracts for the Canadian market.

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As part of the MOU, Aurora will, subject to certain conditions, invest up to $2 million into Radient through a convertible debenture.

From its 20,000-square foot licensed facility in Edmonton, Alberta, Radient extracts natural compounds from a range of biological materials for a variety of industries including food and beverage, nutrition, supplements, pharmaceuticals, and cosmetics.

Radient operates under strict quality controls and owns patented extraction technologies, originally developed by scientists at Environment Canada. These proprietary technologies have proven capable of producing high-quality standardized extracts with faster throughputs, improved yields, higher purities, and lower costs when compared to conventional extraction methods.

Terry Booth, Aurora's CEO and Founder, stated: "Radient's technology promises a significant advance in both quality and efficiency of cannabis extract production. This is especially important considering global market dynamics, which point to strong demand for cannabis derivative products. Importantly, Radient's extraction technology has also been proven to deliver superior preservation of aromatic compounds known as terpenes, which are key to the cannabis consumer experience and the Aurora Standard."

Aurora, with sales exceeding $1 million per month, is one of the largest licensed producers of medical cannabis under Health Canada's Access to Cannabis for Medical Purposes Regulations. The company recently began construction on an unprecedented 800,000 square foot production facility in Leduc County, Alberta, which is anticipated to be capable of producing in excess of 100,000 kilograms of high-quality, low-cost marijuana per year.

Denis Taschuk, Radient's President and CEO, stated: "We are very excited by this potential partnership with Aurora, given their leadership position in the medical cannabis space and the exceptional quality of their products. The combination of Aurora's recently announced capacity expansion with our proprietary high-throughput extraction technology has the potential to play an important role in meeting the fast-growing demand for quality cannabinoid extracts."

The shares are trading at $0.31, and with 80.5 million shares outstanding, the company is capitalized at $25 million.

For more information on the company, please visit their website www.radientinc.com or contact Denis Taschuk, President & CEO, at 780-465-1318 or email dtaschuk@radientinc.com.

For information about Aurora Cannabis, please visit their website www.auroramj.com, or contact Cam Battley, Executive Vice President at 905-864-5525 or email cam@auroramj.com.

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