Proactive Investors - Run By Investors For Investors

Aurora wins public tender to produce medical cannabis in Germany

Of the 79 companies that submitted concept plans, Aurora received the highest rating
Germany on a map
The facility, near Leipzig, will produce cannabis for pharmacies and the German government

Aurora Cannabis Inc (TSE:ACB) (NYSE:ACB) is heading to Germany. The Canadian cannabis company was one of the three companies selected in a public tender by the German Federal Institute for Drugs and Medical Devices to cultivate and distribute medical cannabis in Germany.

Shares jumped 3.7% before the bell on the NYSE to US$9.29.

Of the 79 companies that submitted concept plans, Aurora received the highest rating. The Edmonton, Alberta-based company was awarded five of the 13 available lots with a minimum total supply of 4,000kg.

READ: Canada’s Aurora eyes raising $750 million for global expansion

The facility, located near Leipzig, will produce cannabis to be sold wholesale to pharmacies and the German government. Aurora has been exporting dried cannabis flower to Germany since 2017.

"We are very proud to have been selected as one of only three companies by the German government, which is a great achievement by our team," Chief Global Business Development Officer Neil Belot said. "Having the highest rated concept is a strong validation of the Aurora Standard cultivation philosophy, as well as of our track record in the delivery of safe and high-quality medical cannabis products to the German system.”

The deal will become official April 17 or later.

Contact Andrew Kessel at [email protected]

Follow him on Twitter @andrew_kessel

Join Proactive’s Crypto, Blockchain and Cannabis Telegram group here
View full ACB profile View Profile

Aurora Cannabis Inc Timeline

Related Articles

1540909388_Marijuana-stethoscope.jpg
October 30 2018
The firm wants to become the first publicly listed, globally focused, pure cannabis company
cannabis facility
January 23 2019
The company will capitalize on the need for indoor-grown, pharmaceutical-grade cannabis
The Green Organic Dutchman windmill in a field
December 12 2018
TGOD has been building out its facilities in Ontario, Quebec, and Jamaica, expecting to reach combined production of 170,000 kilograms of cannabis around 2020
Copyright © Proactiveinvestors.com, 2019. All Rights Reserved - Proactive Investors North America Inc., Proactive Investors LLC

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use