Aurora Cannabis Inc (ACB)

[dhbuzz]

Will AURORA and ENWAVE,and Radient do a deal with CANN Grop?

Aurora holds 20% in CANN Group.










Home
Industries
Food/Beverages/Tobacco
Aurora Cannabis enters license deal with EnWave, and makes C$10 million equity investment with

Published: Apr 26, 2019 7:11 a.m. ET

0
Author photo
By

TOMI
KILGORE
REPORTER AND EDITOR

Aurora Cannabis Inc. ACB, -0.46% said Friday it has entered into a royalty-bearing licensing deal with EnWave Corp. ENW, +1.33% for the exclusive rights to EnWave's Radiant Energy Vacuum (REV) drying technology. The technology will be used for the production of cannabis materials in the European Union, excluding Portugal. Aurora's U.S.-listed stock slipped 0.1% in premarket trade. As part of the deal, Aurora has made a C$10 million equity investment in EnWave, for the purchase of 5.3 million shares at C$1.886 a share, a 1.4% premium to Thursday's closing price. Separately, Aurora said it has ordered two REV dehydration systems for its Aurora Sky and Aurora Sun facilities in Canada, and plans to buy a third dehydration system for its Aurora Nordic facility in Denmark. Aurora's stock has climbed 83% year to date through Thursday and EnWave shares have run up 42%, while the ETFMG Alternative Harvest ETF MJ, -0.62% has climbed 39% and the S&P 500 SPX, -0.58% has gained 17%.

SEE FULL STORY