Aurora Cannabis (TSX: ACB) (OTCQB: ACBFF) announced this morning that the company has finalized acquisition of 95% of CanniMed Therapeutics (TSX: CMED) outstanding shares to complete “the largest acquisition in cannabis industry history.” Aurora Cannabis plans to acquire the remaining of CanniMeds outstanding shares through compulsory share acquisition.
By completing this transaction, Aurora Cannabis has now added to its portfolio a strongly recognized brand in the medicinal cannabis community. The combined company plans to focus on product and technological development, as well as, expansion to international markets.
CanniMed has been supplying Health Canada with medicinal cannabis for over a decade and has a collection of over 5,000 physicians referring its cannabis products to patients. Aurora Cannabis believes thats, “CanniMed produces and distributes the most physician-prescribed cannabis oil in the Canadian medical cannabis system.”
The combined company will focus on obtaining EU GMP certification for all of its current and future facilities in an attempt to capture significant market share on the continent of Europe. Aurora Cannabis now has the ability to produce over 280,000 kg of cannabis per year.
Terry Booth, CEO of Aurora Cannabis, stated, ” We believe that our combined assets, capabilities, and brand strength, as well as our consistent execution, position us very well to gain significant share of the global market.”
You may be interested
Global Hemp Group Announces Harvest Update on their CBD Hemp Farm in Scio OregonEditor - November 27, 2018
Vancouver, BC -- (November 27, 2018) -- GLOBAL HEMP GROUP INC. (“GHG” or the “Company”) (CSE: GHG / OTC: GBHPF / FRANKFURT: GHG) and its joint venture…
Wayland Group Enters UK Cannabis Market with Theros Pharma AcquisitionEditor - November 26, 2018
Wayland Group (CSE:WAYL) (OTCQB:MRRCF) has announced this morning that their company has entered into an agreement to acquire 51% of UK company Theros Pharma Ltd. The Wayland Group…
GW Pharma’s CBD Pharmaceutical, Epidiolex, Shows Results in Lowering Seizures in Clinical TrialsEditor - November 26, 2018
GW Pharmaceuticals (Nasdaq: GWPH) has announced this morning that their company has completed a double-blind, placebo-controlled Phase 3 clinical trial for its Cannabidiol (CBD) derived product EPIDIOLEX®.…