Aurora Cannabis Inc. & Micron Waste Technologies Inc. announced that Aurora has completed a strategic investment in Micron and that the companies have finalized a collaboration agreement pursuant to which both companies will collaborate on the optimization of Micron's technology for the treatment of organic waste generated in the cultivation and production of cannabis products. Micron has developed a new technology, based on aerobic digestion and subsequent treatment, that converts organic waste into clean water that meets municipal effluent discharge standards. Currently used methods to dispose of organic waste generally require the utilization of municipal landfill sites, which is costly and has a negative impact on the environment.

The merits of Micron's technology have been successfully demonstrated with a grocery supermarket chain located in British Columbia, Canada, with whom Micron has entered into an Memorandum of Understanding to review additional installations. Micron will now install a digester unit at one of Aurora`s facilities, where the companies will jointly work to optimize the digestor for the cannabis industry. Upon successful completion of the project, Aurora intends to acquire multiple units for its various facilities.

Micron will retain the intellectual property related to the digestor, and shall pay Aurora a 4% royalty for every unit sold to other licensed producers globally. Upon the first successful sale of a digestor within the cannabis industry, Micron shall issue to Aurora 2 million common shares.