Aurora Cannabis Inc (ACB)

[nygrande]

Aurora Cannabis to Acquire Reliva for $40 Million in Stock

The Canadian cannabis company says the move will be immediately accretive to Aurora shareholders.
TOM BEMIS3 HOURS AGO
Aurora Cannabis (ACB) - Get Report said Wednesday it is acquiring privately-held Reliva in an all stock deal worth $40 million in order to gain entry to the U.S. cannabinoid markets.

Canadian-based Aurora said the deal should be “immediately accretive to Aurora on an adjusted EBITDA basis.”

The transaction is expected to close in June.

The move comes just days after Aurora completed a 1-for-12 reverse stock split to avoid being delisted on the New York Stock Exchange.

“Aurora and Reliva will partner to create an international cannabinoid leader that we believe can deliver robust revenue and profitable growth," said Michael Singer, executive chairman and interim CEO of Aurora in a statement.




Source: https://finance.yahoo.com/m/b99a949d-24dc-354a-a627-0994ec7bcf12/aurora-cannabis-to-acquire.html