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Aurora Cannabis Inc (OTCMKTS:ACBFF) Fast-tracks European Expansion

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Aurora Cannabis Inc (OTCMKTS:ACBFF) reported that the firm has finalized a binding term sheet to create a joint venture with Alfred Pedersen & Søn, pursuant to which Aurora Cannabis will ultimately own a 51% stake in Aurora Nordic Cannabis A/S. This will be the joint venture firm, which is located in Odense, Denmark.

The buzz

APS and Aurora Cannabis anticipate completing the final deal shortly, governing the establishment of the joint venture, following which Aurora Nordic will start construction of an Aurora Larssen Projects Ltd designed, 1 million square foot high-technology, entirely automated cannabis production plant. Terry Booth, the CEO of Aurora, expressed that this marks as a vital next step for company, establishing them as the major cannabis firm in Europe, a market of more than 400 million people, dramatically supporting their international expansion.

They are already the major distributor of and exporter to medicinal cannabis in Germany, and now boasts the largest supported capacity footprint in the fast-growing European segment, in which just few licensed cannabis firms are presently able to operate. Booth added, that the association between Larssen and APS, who identified this prospect for them, goes back several years through the joint advancement of many large-scale assignments.

This offers Aurora Nordic with a major benefit in terms of overall execution and time to market. They will be able to use the operational capacity of the leading greenhouse vegetable cultivator in Europe, in addition to Aurora Cannabis’ deep store of cannabis segment expertise, from distribution to growing.

Furthermore, APS’s CEO Mr, Mads Pedersen, is a highly renowned entrepreneur in the Nordic nations, and Aurora Cannabis can leverage his financial sector and strong industry network to perform on Aurora Nordic’s growth and development on favorable terms. They are very thrilled about this new deal, and look forward to be associating with the APS team on setting Aurora Nordic as the leading cannabis firm in the European market.

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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