Aurora Cannabis has signed a binding share purchase agreement whereby Aurora has acquired all of the issued and outstanding common shares of privately-held Chemi Pharmaceutical , an Ontario-based laboratory specialized in providing high quality analytics services to the pharmaceutical and cannabis industries, in a cash and share transaction comprised of an undisclosed cash payment and share consideration of 83,299 shares paid on closing and 41,649 payable upon achievement of certain Chemi milestones.
The company explains: "Chemi has a Health Canada Drug Establishment Licence enabling them to perform certified GMP compliant quality control analytical testing. In addition, Chemi has received US FDA accreditation for their facility, which is the gold standard for global pharmaceutical testing. Acquiring Chemi with their Drug Establishment Licence provides a critical prerequisite for applying for a Cannabis Drug Licence, which is required for the development of cannabis therapies within the global medical cannabis market."
For more information:
Aurora Cannabis
P.O. Box 209
Cremona, AB. T0M0R0
1-844-928-7672
www.auroramj.com