Aurora Cannabis sold off its stake in Australian medical marijuana company Cann Group, but the Canadian producer still sees promise in the Australian market. “We continue to see growth potential in this important market and will maintain active relationships with key distribution partners to enhance the availability of Aurora’s portfolio of leading high-quality medical cannabis,” Aurora spokeswoman Michelle Lefler said. She remarked that Aurora remains focused on its “core markets” of Canadian medical and recreational, CBD in the United States, and developed international medical markets. Aurora listed Australia as one of its “primary market opportunities” as recently as February 2020. However, the designation was not given to Australia in its September disclosure. Aurora’s stake sale comes about three weeks after it booked an impairment loss worth some 37.2 million Canadian dollars ($28.2 million) on its Cann Group position for the fiscal year ended June 30, 2020.
Marijuana Business Daily, 10/13/2020 15:44:26
Open article: https://mjbizdaily.com/aurora-cannabis-exits-australias-cann-group-after-28m-impairment-charge/