Just last week, we were commenting on the rapidity with which AURORA CANNABIS IN COM NPV (OTCMKTS:ACBFF) relays new information to the public, and sure enough, a significant development has already occurred and been reported.
We’ve talked in the past about the company’s wholly-owned German subsidiary, Pedanios GmbH, gaining the rights to ship Aurora cannabis to Germany, which in and of itself was a huge step. Now, the company has taken another vital step toward becoming a top cannabis supplier in the European Union.
AURORA CANNABIS IN COM NPV (OTCMKTS:ACBFF) together with Pedanios, has won a highly competitive EU-wide public tender to supply medical cannabis to the Italian government through the Ministry of Defense, who oversees medical cannabis production and distribution in Italy.
While the Italian Ministry of Defense currently produces medical cannabis for the domestic market, certain wholesalers are permitted to purchase directly from the Dutch Office of Medical Cannabis, a sharp rise in demand has led to the government seeking external parties to provide additional supply. The EU-wide public tender process consisted of 2 rounds. In the first round, those companies eligible to move towards the final tender round were pre-qualified. Only two companies, including Pedanios, qualified for this final round, in which Pedanios was ultimately chosen as the sole supplier under the tender. Following the signing of the contact in the coming days, Aurora will export product into Germany through Pedanios, who will supply the Italian market through the Ministry of Defense.
“I am very proud of Aurora and the Pedanios team for the quality of their execution in becoming the exclusive winner of this important tender, and gaining access to one of the largest and most restricted markets in Europe,” said Neil Belot, Chief Global Business Development Officer. “Aurora will soon supply both Germany and Italy – two of the largest EU markets, with a total population exceeding 143 million. As the only company to have been successful in this tender, we have an incredible first mover advantage in this potentially tremendous growth market.”
Andrea Ludwig Ferrari, responsible for sales and market development in Italy, added, “Aurora and Pedanios’ EU GMP certifications were crucial in being successful in our bid for the tender in this demanding jurisdiction. We are now the first private cannabis company in the world able to supply the Italian government directly, a testament to the quality of our operations and the standing of our organization. This win positions us exceptionally well to continue executing successfully on our aggressive international expansion strategy.”
We’ve been following Aurora for a long time, and an occurrence such as this feels like validation of our faith in this company as one of Canada’s top cannabis players, certainly in the medical arena. The investment community seems to agree with us as well, with shares of ACBFF having recently touched an all time high, and the stock currently flirting with setting a new one on the heels of this key Italian connection. There’s also the CannaMed subplot we’ve been covering, which we’ll save for another day, along with a ton of other simultaneous storyline for Aurora that make ACBFF one of the most interesting stocks out there Keep it locked to Street Register for updates, and we’ll deliver those important developments on ACBFF to you as they unfold. In the meantime, if you’ve yet to sign up for our 100% free newsletter, do so now! Just enter your active email address into the box below and submit!
Disclosure: No one at Street Register has been compensated in any way for the publishing of this article, nor do we hold any position in ACBFF stock, short or long