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Aurora Cannabis has purchased two companies as part of its strategy to tap Canada’s rapidly growing market for patients who cultivate their own medical marijuana and ultimately for consumers who choose to grow their own cannabis after recreational legalization takes effect next summer.
Aurora, traded as ACB on the Toronto Stock Exchange, is shelling out 3.9 million Canadian dollars ($3.1 million) in cash to acquire BC Northern Lights Enterprises and Urban Cultivator, both based in British Columbia.
The transactions also involve CA$500,000 worth of Aurora common shares and warrants and potentially another CA$4 million, based on performance milestones