Aurora Cannabis Inc., 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. Aurora’s investment in Growery is structured such that the Company intends to invest an immaterial cash amount of which a portion is a 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 Netherlands-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.
Press Release, Marijuana Retail Report – News and Information for Cannabis Retailers, 11/08/2021 03:41:00
Open article: https://marijuanaretailreport.com/aurora-cannabis-acquires-a-significant-equity-stake-in-growery-b-v-one-of-10-successful-applicants-for-a-cannabis-production-license-in-the-netherlands/