Aurora Cannabis Makes Inroads Into South America With Latest Acquisition

An employee tends to marijuana plants at the Aurora Cannabis Inc. facility in Edmonton, Alberta, Canada, on Tuesday, March 6, 2018. (Photographer: Jason Franson/Bloomberg)

Aurora Cannabis (TSE: ACB) has been pretty active on the MA front, purchasing at least 10 companies in the past 2 years. While the primary motive for those was to increase the production capacity in time for the legalization of recreational marijuana in Canada, this time around the reason appears to be different. ACB announced its intention to acquire ICC Labs Inc. (TSX-V: ICC) for CAD 1.95 per share, reflecting a 34% premium to the company’s 20-day volume-weighted average trading price as of Aug. 22, the day when rumors started floating regarding the imminent purchase. ICC is a leader in the South American cannabis market, and has over 70% market share in Uruguay, the first country in the world to legalize cannabis for

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