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Photography by Alexander Aguero
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Aurora Cannabis
The marijuana company has announced that she was one of three companies selected to grow and distribute cannabis for medical purposes in Germany.
The story back. The Aurora cannabis stock (ACB) fell earlier this week after the company filed a prospectus to sell $ 750 million worth of borrowings, stocks and other securities over the next 25 months. This has led current investors to consider the potential for dilution.
Executive Chairman Michael Singer referred to a "partnership strategy" as well as the continued global expansion of the Canadian-based producer, in a statement Tuesday night.
The Aurora cannabis stock has increased more than 80% since the beginning of the year and more than 40% in the last 12 months. The action was helped by Nelson Peltz, a veteran investor, who joined the company in March as a "strategic advisor."
Investors were hopeful that Peltz could help the company build new partnerships and match the ratings of Canadian competitors such as
Tilray
(TLRY) and
Cover growth
(GSC).
What's up. Aurora announced Friday that the German Federal Institute of Medicines and Medical Devices has chosen the company for a public contract to cultivate and distribute cannabis for medical purposes in Germany.
Five lots were awarded to Aurora (the maximum that a producer can shoot 13), with a minimum bid of 4,000 kg in total. The company will sell cannabis to the German government, which will supply it to wholesalers for distribution in pharmacies.
The company said its plan, judged by facility design, quality, safety and logistics, received the highest ranking among all submitted concepts.
"We started delivering dried cannabis flowers from Canada to the German market in 2017 and we recently added cannabis extracts to our offerings to German patients," said Neil Belot, Director of International Business Development, in a statement. . "Winning the call for tenders reflects a natural evolution for Aurora, establishing a larger local footprint in this important international market of more than 82 million people."
Look forward. The Aurora cannabis stock rose nearly 3% in Friday morning trading before restoring some of those gains to 1.5% in the middle of the morning at $ 9.08 a share.
The first Wall Street marijuana analyst, Vivien Azer at Cowen & Co., recently said that the Aurora scale made it her first choice in Canada. She said that Aurora had been valued at a lower price because of its risk of integration and the lack of equity participation of a large Fortune 500 company.
Mr Azer said that Mr Peltz would help him profit from his "knowledge of global consumer goods companies".
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