Aurora Cannabis Completes Acquisition Of Thrive Cannabis

Aurora Cannabis Inc. ACB ACB has completed its previously announced acquisition of TerraFarma Inc. (parent company of Thrive Cannabis) for aggregate initial consideration of $38 million paid in cash and Aurora common shares, and up to $30 million in potential earnout amounts, payable in cash, Aurora Shares or a combination of both, subject to Thrive achieving certain revenue targets within two years of the transaction closing.

"With the transaction closing, we officially welcome Geoff Hoover and his team to Aurora," stated Miguel Martin, CEO of Aurora. "We look forward to the expertise they will bring to our Canadian recreational business and Aurora's leadership in the global cannabis space."

The transaction is expected to strategically strengthen Aurora's position in the Canadian market by placing the Thrive team in charge of Aurora's Canadian recreational portfolio and advancing the shift in focus to innovative premium products including dried flower, pre-rolls, vapor products, and concentrates.

Photo: Courtesy of Aurora Cannabis Inc.

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The Benzinga Cannabis Capital Conference is coming to Florida

The Benzinga Cannabis Capital Conference is returning to Florida, in a new venue in Hollywood, on April 16 and 17, 2024. The two-day event at The Diplomat Beach Resort will be a chance for entrepreneurs, both large and small, to network, learn and grow. Renowned for its trendsetting abilities and influence on the future of cannabis, mark your calendars – this conference is the go-to event of the year for the cannabis world.

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The Benzinga Cannabis Capital Conference is coming to Florida