Subscribe
PLANT

Aurora Cannabis to acquire Mexican company following partnership

Farmacias now Mexico's first federally licensed importer of raw materials containing THC.


Farmacias plans to use imported THC and CBD concentrates for the medical market.
Photo: Fotolia

EDMONTON — Aurora Cannabis Inc. has signed a deal to acquire Mexican company Farmacias Magistrales.

The deal to buy the pharmaceutical manufacturer and distributor follows an agreement last week that saw Aurora partner with the company.

It says Farmacias recently became Mexico’s first federally licensed importer of raw materials containing THC.

Aurora says Farmacias plans to use imported THC and CBD concentrates to produce various cannabis oil products for the medical market.

The price being paid was not immediately available, but Aurora says it will pay for the deal with Aurora shares, based on a valuation using revenue projections for Farmacias.

The agreement also includes a contingent portion of up to 25 per cent payable on the achievement of certain milestones over the next 12 months.

News from © Canadian Press Enterprises Inc. 2016

Have your say:

Your email address will not be published. Required fields are marked *

*