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Aurora Cannabis Inc (OTCMKTS:ACBFF) And CannaRoyalty Corp (OTCMKTS:CNNRF) Finalizes International Drug Delivery Technology Deal

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Aurora Cannabis Inc (OTCMKTS:ACBFF) and CannaRoyalty Corp (OTCMKTS:CNNRF) reported that they have finalized a Letter of Intent, providing Aurora Cannabis the exclusive right for ninety days to negotiate the “Final Agreement”.

The details

The final agreement related to the acquisition by Aurora Cannabis of the exclusive rights for Europe, Australia and Canada to the intellectual property, manufacturing processes, and the marketing and sales rights linked to a portfolio of premium branded cannabis medicine delivery know-hows from the MüV brand, to which CannaRoyalty has the licensing rights.

MüV brand is a line of cannabis-infused offerings, advanced by CannaRoyalty investee AltMed Enterprises, emphasized on latest alternative CBD delivery mechanisms for the Lifestyles of Health and Sustainability as well as medicinal divisions of the market. The line was introduced in the United States in 2016.

The MüV offerings to be covered by the deal include MüV Metered Dose Inhaler, MüV Transdermal Patch, CBD Sports Gel, CBD Hydrating Lotion, THC Sports Gel, THC Hydrating Lotion and THC Pain Relief Cream. Characterization assessments, fulfilling FDA guidelines, were performed, and the data were then assessed by Aurora Cannabis on the MüV Metered Dose Inhaler. This report was found to achieve the needed criteria, validating that the item fulfills the company’s standard of user experience and quality.

Terry Booth, the CEO of Aurora, stated that this deal demonstrates company’s strategic commitment to the advancement of latest alternative delivery mechanisms to expand the firm’s product offering. It also demonstrates how a rising constellation of reliable innovation associates sees company as the winning brand to assist commercialize their technologies and products, and they look forward to finalizing their deal with CannaRoyalty and offering these thrilling new products to their growing global client base. Marc Lustig, the CEO of CannaRoyalty, said that this deal showcases a notable opportunity to boost the growth of MüV product line on a global scale.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of MMJReporter.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure

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