We probably talk about AURORA CANNABIS IN COM NPV (OTCMKTS:ACBFF) as much or more than any other company. Just the last time we were mentioning it we commented on the fact that the company has one of the most aggressive growth strategies out of any cannabis stock of which are aware. Unsurprisingly, the company has now announced it has taken up a position in CTT Pharmaceutical Holdings Inc (OTCMKTS: CTTH).
We relayed the announcement of Aurora’s distribution partnership with CTT when it came down the wire last month, and the companies are now making their relationship even closer.
AURORA CANNABIS IN COM NPV (OTCMKTS:ACBFF) has announced that it is acquiring an initial 9.14% ownership interest in CTT Pharmaceutical Holdings Inc (OTCMKTS: CTTH) via a non-brokered private placement in the form of a US $1 million 5% convertible debenture. The agreement includes an issuance of warrants enabling to Aurora to increase ownership to 42.5%.
Additionally, the companies announced that, within 60 days, they intend completing a final commercial agreement, expanding the exclusivity agreement, announced first on April 16, 2018, which related to distribution in Canada only of CTT’s novel, patent-protected drug delivery technologies. CTT will now provide Aurora with global exclusivity to develop, manufacture and market CTT’s novel oral thin films wafers. The companies will work jointly towards obtaining Health Canada approval for introduction of the new products on the Canadian market, as well as obtaining commercial access to other international jurisdictions in which Aurora is active.
CTT’s oral thin film wafers provide a smoke-free delivery of medical cannabis or other active ingredients. They are made from FDA approved non-medical ingredients used in several pharmaceutical formulations and provide the effective oral delivery of a specific dose with rapid onset of action within 5-10 minutes.
“The investment in CTT reflects our commitment to science-based diversification into higher-margin drug delivery technologies for both the medical and adult consumer use markets” said Terry Booth, CEO. “The clinically-proven rapid onset of action of CTT’s wafers is a key differentiator that, we believe, will resonate strongly with physicians, patients and adult use consumers. This provides us with an important competitive advantage in the rapidly growing market segment for smoke-free form factors.” (Source: Canada Newswire)
Additionally, just last week, Aurora reinforced its diverse portfolio even further by increasing its stake in Hempco Food and Fiber Inc. (TSX-V: HEMP) to a controlling interest of 52.7%, or, 50.12% on a fully-diluted basis
“Hempco plays an important role in our strategy to secure access to low-cost raw material for the potential production of CBD extracts once new legislation is in place allowing whole (hemp) plant utilization,” said Terry Booth, CEO. “Furthermore, this is a strategic partnership that also helps us develops a broader portfolio of value added products for the health supplements market. By taking control, we will be able to more closely integrate Hempco’s operations with our own and drive growth.”
Diane Jang, CEO of Hempco, added, “Aurora provides us with a large, financially strong and long-term stable shareholder, whose capabilities and networks will enable Hempco to accelerate development. With our new Nisku plant coming online, multiple distribution channel initiatives being implemented, and new products coming to market, we are rapidly developing a strong foundation for growth and expansion.” (Source: Canada Newswire)
There is no doubt, ACBFF is one of the biggest investors in Canadian Cannabis, not to mention one of its biggest players. That’s why it has been a main focus for us here on Street Register for well over a year now. We’ll be sure to continue looking out for key events. We’ll stay up on any further developments with ACBFF and pass them along to you! Stay locked on StreetRegister.com and be sure you’re signed up for our 100% free small cap newsletter. It’s as easy as that! Simply submit your primary active email address in the box below. Subscribe now!
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.