Aura Health (CSE: BUZZ) announced this morning that it has completed its name change to that of Pharmadrug Inc. The name change is intended to better reflect the operations of the firm, whom is focused on importing quality medical cannabis to the German and other European markets.
The name change, which was proposed earlier this year via a circular issued to shareholders, was approved on October 3 at an annual and special meeting of shareholders. The change reflects Aura’s 80% purchase of Pharmadrug Production GmbH this past may, a firm with the necessary narcotics licensing to import cannabis and other medical products to the German state.
We are consistently working to further develop our distribution of medical cannabis in Germany. In addition to the continued expansion of volumes from The Netherlands Office of Medicinal Cannabis, we are to launch our own proprietary brand with the introduction of Israeli-sourced supply in the second half of 2020. The company also expects upcoming Canadian supply deals, which could lead to an earlier ramp and brand launch.
Daniel Cohen, CEO of Pharmadrug
Common shares of Aura Health held by shareholders will automatically exchange for shares of Pharmadrug, without investors being required to take any action. There was no indication by the firm that the associated ticker would be changing.
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Aura Health, now Pharmadrug, closed Friday’s session at $0.04.
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