Aurora Cannabis has acquired the remaining 90% equity interest of MedReleaf Australia it didn’t already own, giving the Canadian marijuana producer a bigger foothold in one of the world’s biggest federally regulated medical markets.
Aurora paid 50 million Australian dollars ($43.7 million), including AU$9.45 million in cash and the rest via the issuance of common shares, the Edmonton, Alberta-based company said in its Thursday announcement.
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In an interview with MJBizDaily, CEO Miguel Martin said he sees a lot of upside in the Australian market as regulations become more progressive and the country’s industry continues to expand.
“Australia has grown steadily and now is about the same size as Canada – so it’s probably one of the top two federally legal medical cannabis markets
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