Aurora Cannabis Inc. (TSX: ACB) continues its Canadian market expansion with the announcement it will be acquiring Anandia Laboratories in a deal valued at $115 million.
Anandia is a Health Canada-licensed company focused on providing research and development services and analytical testing for clients.
The deal will see Aurora acquiring all of the issued and outstanding shares of Anandia, payable in units consisting of one common share of Aurora plus one half of a common-share purchase warrant for each common share of Aurora issued to Anandia.
Anandia’s testing services will continue to remain independent of Aurora and continue to serve clients that include licensed producers and patient-growers.
Anandia is also currently constructing a 22,500 square-foot Cannabis Innovation Centre on Vancouver Island that will be home to Anandia’s cannabis breeding and genetics program. The site, which is located near Comox, B.C., has an option of expanding up to 100,000 square feet.
"Anandia has amassed an extensive library of cannabis genetics coupled with in-depth genomic and chemical analysis,” Dr. Jonathan Page, Anandia CEO and co-founder, said in a press release.
“Partnering with Aurora, with their expanded financial resources, scientific expertise and multiple cultivation sites, will enable us to accelerate our current breeding efforts to create the next-generation of cannabis genetics.”
