Aurora Cannabis continues to ensure its future as a global cannabis provider is secure as more efforts continue to emerge to legalize marijuana’s use. The company already has extensive activity in countries around the world and just announced that it has renewed one of its key partnerships in the UK. At the same time, Aurora has filed a new prospectus supplement for its at-the-market offering program.
Aurora has signed a new, two-year agreement with Grow Group PLA in the UK. Grow Group is a biopharmaceutical company that is dedicated to medical cannabis access in the UK and the renewed relationship follows an initial two-year agreement the companies signed in August 2019. The partnership will allow Aurora to continue to supply cannabis products to Grow Group through its Aurora Germany GmbH subsidiary.
“We are delighted to extend our existing strategic relationship with Grow,” states Aurora CEO Miguel Martin. “We have worked successfully with Grow and their joint venture partner, IPS, since entering the UK market. Renewing this agreement will help to broaden access for patients by leveraging Grow’s work educating physicians and creating awareness of medical cannabis options. Aurora is committed to providing access to legally produced high-quality pharmaceutical-grade medical cannabis to address the needs of the growing European medical cannabis market, made possible with our EU GMP facility, Aurora Nordic.”
Aurora has also filed a prospectus supplement to create a new at-the-market equity program that will allow the company to issue and sell up to $300 million in common shares to the public. The shares will be made available at the company’s discretion and will be provided through “at-the-market distributions” in accordance with federal regulations in the US. They’ll be made available through the NASDAQ Global Select Market and other marketplaces in the country. A company announces states that the filing will offer “maximum flexibility” as Aurora pursues “selection acquisitions” with the assistance of the company’s $525-million cash position.