EDMONTON, May 28, 2020 /CNW/ – Aurora Cannabis Inc. (the “Company” or “Aurora“) (NYSE |TSX: ACB), the Canadian company defining the future of cannabinoids worldwide, today announced it has completed the previously announced acquisition of Reliva, LLC (“Reliva“) a leader in the sale of hemp-derived CBD products in the United States for approximately US$40 million of Aurora common shares. The transaction also includes a potential earn-out of up to a maximum of US$45 million payable at Aurora’s option in shares or cash contingent upon Reliva achieving certain financial targets over the next two years.
“We are pleased to have closed the Reliva transaction ahead of schedule. The partnership between Aurora and Reliva is expected to create a market leading international cannabinoid platform that we believe can deliver robust revenue and profitable growth,” said Michael Singer, Executive Chairman and Interim CEO of Aurora. “I would like to officially welcome Miguel Martin and his team to Aurora, and look forward to increasing Aurora’s operating scale, international reach, and product and brand diversity while in parallel, we remain focused on delivering Adjusted EBITDA profitability in Canada for the benefit of all shareholders.”
Miguel Martin, CEO of Reliva commented, “We are delighted to join the Aurora team. We believe this partnership provides the opportunity for significant growth in the United States and internationally, and we’re excited to get to work.”
Aurora is a global leader in the cannabis industry serving both the medical and consumer markets. Headquartered in Edmonton, Alberta, Aurora is a pioneer in global cannabis dedicated to helping people improve their lives. The Company’s brand portfolio includes Aurora, Aurora Drift, San Rafael ’71, Daily Special, AltaVie, MedReleaf, CanniMed, Whistler, and ROAR Sports. Providing customers with innovative, high-quality cannabis products, Aurora’s brands continue to break through as industry leaders in the medical, performance, wellness and recreational markets wherever they are launched. For more information, please visit our website at www.auroramj.com.
Aurora’s Common Shares trade on the TSX and NYSE under the symbol “ACB”, and is a constituent of the S&P/TSX Composite Index.
Reliva is a leader in delivering high quality hemp-derived CBD products to consumers. Built on a philosophy of compliance, testing, product innovation and approachable price points Reliva has grown to become one of the largest retail CBD brands in the U.S. Supported through long-term partnerships with leading national wholesalers and retailers Reliva’s products can be found in over 20,000 retail stores. Reliva’s management team, which has decades of regulated product experience, is uniquely positioned to manage this dynamic and rapidly growing category. Reliva’s products contain CBD derived from industrial hemp in compliance with the U.S. Agriculture Improvement Act of 2018 (2018 Farm Bill), and its products are not subject to the U.S. Controlled Substances Act. For more information, please visit our website at www.relivacbd.com.
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