Aurora Cannabis completes sale of cannabis oils to German pharmacies

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In another move to expand internationally, Alberta-based Aurora Cannabis Inc. (NYSE: ACB; TSX: ACB; Frankfurt: 21P) today began selling Pedanios 5/1 branded cannabis oils to pharmacies in Germany.

The move follows completion of several regulatory hurdles from both the German and Canadian sides. Following that announcement, Aurora’s stock was up just over 3% this morning.

Aurora’s Chief Global Business Development Officer Neil Belot commented on the company’s strategy behind moving into the German market with oil extracts:

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Having established early mover advantage in selling cannabis oils in Germany, we are positioned to extend our market leadership and accelerate growth of European operations. As our global production capacity continues to ramp up, we are able to allocate more product from our EU GMP certified cultivation facilities to this higher margin market that continues to be undersupplied. 

The company already supplies dried flower products in Germany through Aurora Deutschland, which was recently rebranded from its former name Pedanios.

While operations continue to expand to meet increased consumer demand in Canada after recreational legalization arrived last year, major licensed producers such as Aurora have also focused on growing globally.

Latin America has consistently played a major role in those international plans, with Aurora acquiring both the Uruguay-based ICC Labs in September and then Mexican cannabis distributor Farmacias Magistrales SA at the end of 2018.

That international strategy has included trading on the US-based New York Stock Exchange (NYSE) for increased market presence and additional fund-raising opportunities. Aurora applied to trade on the NYSE last year and began trading on the market officially in late October.

On the Canadian side, last week Aurora completed the acquisition of British Columbia-based Whistler Medical Marijuana Corporation, which was one of the very first companies to become licensed by Health Canada to cultivate medical cannabis.

Aurora will now assist Whistler in the construction and expansion of a second cultivation facility located in Pemberton, with a full operational capacity of 5,000 kg per year expected to arrive by the end of summer in 2019.

Aside from acquisitions and construction projects, Aurora is preparing to open what will be the most highly visible retail cannabis store in the country with a spot in the world-renowned West Edmonton Mall.

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