Aurora Cannabis Advances Premiumization Strategy - Thrive's highly experienced and trusted cannabis team in craft cultivation, product innovation, and operational execution will lead Aurora's Canadian recreational business
- Expands Aurora's brand offering with Greybeard, an award-winning, super-premium, high margin brand regarded for its budtender appreciation
- Transaction is expected to close in Aurora's Q4 fiscal 2022, contribute immediate positive EBITDA and support Aurora's goal to reach EBITDA profitability in the first half of fiscal 2023
NASDAQ | TSX: ACB
EDMONTON, AB, March 22, 2022 /PRNewswire/ - Aurora Cannabis Inc. (the "Company" or "Aurora") (NASDAQ: ACB) (TSX: ACB), the Canadian company defining the future of cannabinoids worldwide, is pleased to announce today that the Company has reached an agreement to acquire all of the issued and outstanding shares of TerraFarma Inc. (parent company of Thrive Cannabis) ("Thrive") (the "Transaction"). The Transaction is based upon aggregate consideration of $38 million (the "Initial Consideration") payable in cash and Aurora common shares ("Aurora Shares"), plus two earnout amounts (the "Earnout Consideration") payable in Aurora Shares or cash (at the election of Aurora), if applicable, based on Thrive achieving certain revenue targets within two years of closing of the Transaction.