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Finance

MedReleaf Stock Rises on Aurora Cannabis Acquisition

This deal would increase Aurora Cannabis’s footprint ahead of the legalization of recreational cannabis (HMMJ) in Canada. Together, the company would have over 570,000 kilograms of capacity to produce cannabis. The companies expect this scale to lower the cost of production, which is expected to be positive for margins. The combination would also allow the companies to capitalize on partnerships with Shoppers Drug Mart, Pharmasave, Alcanna, and Quebec’s SAQ.

With this acquisition, Aurora Cannabis—which was already at second place in terms of market cap—has moved closer to the number-one company, Canopy Growth (WEED).

To learn what investors are paying for these and other cannabis companies, see How Cannabis Stocks Performed Last Week.

View more information: https://marketrealist.com/2018/05/medreleaf-stock-rises-on-aurora-cannabis-acquisition/

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