Aurora Widens European Footprint With Purchase of Portuguese Cannabis Company

Tony Owusu - finance.yahoo.com Posted 5 years ago

announced the acquisition of a 51% ownership stake in Portugal's Gaia Pharm Tuesday as the company looks to establish a local facility to produce medical cannabis and related products as it widens its presence in Europe. Gaia last week received approval from the Portuguese Health Ministry for its application to construct an EU regulatory compliant cannabis cultivation facility. Aurora has been attempting to achieve an early mover advantage in countries with immature cannabis markets and the company said that it sees Portugal's population of 10 million as an attractive market after the country approved medical cannabis in January.

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