Aurora Cannabis is paying $215 million to acquire medical cannabis producer MedLeaf Therapeutics in a cash-and-stock deal.
The transaction, expected to close by Aug. 31, includes $125 million in cash and $90 million in Aurora common shares, Investing.com reported.
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With the acquisition, Edmonton, Alberta-based Aurora expands its medical marijuana portfolio and strengthens its position internationally – particularly in Europe and Australia, where New Zealand-based MedLeaf has established distribution networks.
MedLeaf is “known for its high-potency medical formulations and clinical research programs,” according to Investing.com.
“This strategic acquisition aligns perfectly with our global medical cannabis growth strategy and brings complementary product offerings to our portfolio,” Aurora CEO Miguel Martin said in the company’s filing with the U.S. Securities and Exchange Commission.
MedLeaf’s executive team
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