Aurora Cannabis buys stake in Dutch company Growery, to provide secured loan – Edmonton


Aurora Cannabis Inc. says it has signed an agreement to invest in a significant stake in Growery BV, a Netherlands-based company that is licensed to participate in the controlled experiment of the country’s cannabis supply chain.

The size of the investment was not immediately available.

READ MORE: Aurora Cannabis Closes Edmonton Plant, Relocates Manufacturing To Ontario

The experience of the controlled cannabis supply chain is being used by the Dutch government to see how cannabis can be legally supplied to cafes and what the effects would be.

Aurora says the deal is structured in such a way that it intends to invest an intangible cash amount of which part is due and payable in advance and the remainder is dependent on the achievement of certain milestones by Growery.

It will also provide a secured loan to Growery to build a facility, finance initial operations, and provide technical and operational support through its Netherlands-based research center for medical cannabis.

The story continues under the ad

Aurora CEO Miguel Martin said the Netherlands is expected to be the largest nationally regulated recreational market outside of Canada.

Watch below: Some videos from Global News on Aurora Cannabis.

© 2021 The Canadian Press


Comments are closed.