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ACB up 28% > UPDATE: Aurora Cannabis makes its long-awaited push into the U.S. with Reliva CBD acquisition
6:30 am ET May 21, 2020 (MarketWatch)
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By Max A. Cherney

Aurora shares surge nearly 30% in the extended session

Over a year after Aurora Cannabis Inc. executives started publicly talking about making a push into the U.S. market, the company has made its move: the $40 million all-stock purchase of a cannabidiol maker called Reliva.

Though Aurora (ACB.T) (ACB.T) will issue roughly 2 million shares to make the purchase, shares rose nearly 30% in the extended session Wednesday.

The closely held Reliva LLC makes products that include cannabidiol, or CBD, which is a non-intoxicating element of the marijuana plant. In the announcement, Aurora said Reliva sells products in 20,000 retail locations in the U.S. and has achieved a non-standard measure of profitability. Set to close in June, Aurora could pay up to $45 million in additional stock beyond the $40 million initial payment.