Aurora Cannabis divests itself of Green Organic Dutchman, hemp subsidiary

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Canadian marijuana giant Aurora Cannabis has sold its remaining stake in a Toronto firm that has a hemp subsidiary in Poland.

Aurora sold its shares in The Green Organic Dutchman (TGOD) for 86.five million Canadian dollars ($64.9 million).

Although the move indicates Aurora has divested itself of a TGOD subsidiary that tends to make CBD merchandise, HemPoland, it nonetheless has stakes in other hemp ventures.

Final year, for instance, Aurora acquired two Lithuanian hemp producers – Agropro UAB and its sister firm, Borela UAB.

The sale of TGOD, which gave Aurora an approximate return of 50% on its initial investment, involved 28.eight million shares, or about 10.five% of the firm.

Regardless of no longer holding any shares in TGOD, Aurora does retain ownership of warrants enabling it to buy up to 16.67 million shares in the firm.

Aurora mentioned its January buy of Whistler Healthcare Marijuana created its interest in TGOD much less strategic.

Edmonton, Alberta-primarily based Aurora trades as ACB on the New York Stock Exchange and the Toronto Stock Exchange. The Green Organic Dutchman trades on the Canadian Securities Exchange as TGOD.

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Categories: Briefs, Canada Hemp News, CBD Merchandise &amp CBD Small business News

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