Aurora Cannabis enters Portugal – Aurora Cannabis Inc. (NYSE: ACB)


Aurora Cannabis (NYSE: ACB), wishing to establish a local presence in Portugal for the production of medical cannabis and derivatives, has agreed to take a 51% stake in Gaia Pharma Lda. for an undisclosed amount.

On 21 February, the division of the Portuguese Ministry of Health, INFARMED, approved Gaia's request to build a cannabis cultivation center in line with EU GMP. The first phase, with a production capacity of about 2,000 kg / year, is expected to be completed in the third quarter of 2020. The second phase will double the capacity.

The company will be renamed Aurora Portugal Lda.

Shares are up a fraction before the market.


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