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Aurora Cannabis Inc. agreed to proceed with its 3.2 million Canadian dollar ($2.5 million) strategic investment in Hempco Food and Fiber Inc., securing a 19.9 percent stake in the Burnaby, British Columbia-based company and access to a rapidly growing health supplement market.
Aurora will have an option to raise its total interest in Hempco to 50.1 percent, a move that would give it a controlling stake in the Canadian hemp company. Terms are subject to shareholder approval.
Hempco (TSX Venture Exchange: HEMP) is one of the world’s largest producers of industrial hemp products.
Aurora Cannabis Enterprises (TSX Exchange: ACB), a wholly-owned