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Aurora Cannabis Acquires a Significant Equity Stake in Growery B.V., One of 10 Successful Applicants for a Cannabis Production Licence in the Netherlands
Aurora Cannabis Acquires a Significant Equity Stake in Growery B.V., One of 10 Successful...
About this update from Aurora Cannabis Inc.
[{"type":"text","content":"\n \n \n \n Aurora Cannabis Acquires a Significant Equity Stake in Growery B.V., One of 10 Successful Applicants for a Cannabis Production Licence in the Netherlands\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n First Federally Regulated Recreational Market in\n \n Europe\n \n and Largest Outside of\n \n Canada\n \n \n \n \n NASDAQ | TSX: ACB\n \n \n \n EDMONTON, AB\n \n ,\n \n Nov. 8, 2021\n \n /CNW/ - Aurora Cannabis Inc. (the \"\n \n Company\n \n \" or \"\n \n Aurora\n \n \") (NASDAQ: ACB) (TSX: ACB), the Canadian company defining the future of cannabinoids worldwide, today announced that Aurora Nederland B.V., a wholly owned indirect subsidiary of the Company, has entered into an agreement to invest in a significant equity stake in Netherlands-based Growery B.V. (\"Growery\"), one of the few license holders entitled to participate in the Controlled Cannabis Supply Chain Experiment (the \"CCSC\"). The agreement is subject to the regulatory notification procedure.\n \n \n \n \n \n \n \n \n \n Aurora's investment in Growery is structured such that the Company intends to invest an immaterial cash amount of which a portion is due and payable upfront, and the remainder dependent on Growery achieving certain milestones. Under the terms, Aurora will provide a secured loan to Growery to construct a facility, fund early operations and provide technical and operational support through its\n \n Netherlands\n \n -based state-of-the-art research facility for medical cannabis, established in 2018. Aurora expects to fully consolidate the revenues realized through the investment into Growery under the applicable International Financial Reporting standards.\n \n \n \"Our investment in Growery is a significant advancement for our global recreational cannabis strategy.\n \n The Netherlands\n \n is expected to be the largest federally regulated recreational market outside of\n \n Canada\n \n , and is a proof point that our medical market success in\n \n Europe\n \n is portable to recreatio...