Aurora Cannabis stock keeps rising after a slight dip at the beginning of January, similarly to other Canadian cannabis companies as US Attorney General Jeff Sessions announced a possible federal crackdown.
This year started off with a bang for Aurora Cannabis as the cannabis giant makes several benchmark moves to climb to the #1 spot in Canada’s marijuana industry.
One of the biggest decisions so far this year was to partner with Danish tomato and pepper producer Alfred Pedersen & Son in order to produce and sell cannabis in Europe.
While Aurora already has a partnership going on with a German company, this will be a powerful addition to their European portfolio.
Seeing how tomatoes and peppers are most often grown in greenhouses, this seemed like a logical and well research deal to both sides since cannabis requires similar growing conditions.
The joint venture, which is majority owned by Aurora Cannabis, will focus on selling cannabis in Denmark, Sweden, Norway, Finland, and Iceland, through Aurora’s German unit.
Aurora’s partner received its license to cultivate cannabis from Denmark’s Medicines Agency on January 1, 2018.
Aurora Cannabis stock (TSE: ACB) is a safe bet
Aurora has been a well-established company for quite a few years now and seeing how there is nothing but good business in the last two years this seems to be a good investment opportunity for everyone looking to get some money over the next few years.
We can safely assume that Aurora will only continue growing when we look into its acquisition history — they keep buying shares of other successful, growing companies.
Just last week Aurora Cannabis made two big acquisitions and one more announcement:
Aside from partnering up with Danish tomato and pepper producer they bought a 17.6% stake in Green Organic Dutchman Holdings for C$55 million.
Aurora will have the option to purchase up to 33 percent of Ontario-based Green Organic’s production if the company raises its ownership to 31%.
The other big acquisition was that of CanniMed shares — Aurora’s stake in CanniMed rose to 2.7% after buying more shares last week.
Aurora has said it’s allowed to buy up to about 5% of the Saskatoon-headquartered CanniMed’s stock on the open market.
The one big announcement was that Cam Battley has been promoted to Chief Corporate Officer of Aurora Cannabis due to the success he has brought on in the past 2 years.
Battley previously held the positions of Executive Vice President and Senior Vice President.
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