Aurora Cannabis Announces Two Acquisitions
Everything west of this line is the richest, most expensive real estate in the world... Aurora Cannabis Inc. (TSX:ACB) continued its quest for world domination on Thursday. They began by purchasing greenhouse design firm Larssen Ltd. and closed the day with the purchase of medical marijuana applicant H2 Biopharma Inc., the latter of which cost Aurora upwards of $25 million. The buys were not unrelated as Larssen will now finish the design of H2's cannabis production facility. That project is almost 80 percent complete.
In a statement, Aurora said that H2 is a late-stage licensee applicant for medical marijuana. Plans for the new facility include the production of up to 4,500 kilograms of cannabis per year, with room for expansion. As for Larssen, their clientele already comprises 15 cannabis industry clients across the globe, all which Aurora will reassess once they finish the buyout.
"We're going to certainly encourage those to proceed but we're going to require some level of partnership, whether that be an equity stake or a supply agreement or other things," executive vice-president of Aurora Cam Battley said in a statement.
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