Aurora Cannabis buys stake in Dutch company Growery, to provide secured loan – Edmonton

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Aurora Cannabis Inc. announced that it has signed an agreement to invest in a significant stake in Growery BV, a Netherlands-based company that holds a license to participate in the controlled cannabis supply chain experiment in the country.

The size of the investment was not immediately available.

READ MORE: Aurora Cannabis closes 1 plant in Edmonton and relocates manufacturing to Ontario

The Cannabis Controlled Supply Chain experiment is being used by the Dutch government to see how cannabis can be legally supplied to cafes and what the effects would be.

Aurora says the deal is structured such that it intends to invest an intangible cash amount of which a portion is due and payable up-front and the remainder is contingent upon the achievement of certain milestones by Growery.

It will also provide a secured loan to Growery to build a facility, fund initial operations, and provide technical and operational assistance through its Netherlands-based medical cannabis research center.

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Aurora CEO Miguel Martin said the Netherlands is expected to be the largest nationally regulated recreational market outside of Canada.

Watch below: Some videos from Global News on Aurora Cannabis.

© 2021 The Canadian Press

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