Aurora Cannabis (TSX: ACB) has entered into a major agreement with SNDL Inc (NASDAQ: SNDL).
The arrangement will see Aurora supplied with premium cannabis flower over a three year period with an option to extend. The flower, to be grown at SNDL’s Atholville indoor facility, is said to be valued at $27 million over the life of the contract.
The supply agreement is in addition to current contracts already in place between the two parties, with SNDL providing Aurora with various cannabis products and input materials.
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“Following our strong, third quarter performance driven by record setting growth in our international medical cannabis segment, Aurora remains focused on a balanced approach to operating a hybrid manufacturing network of in-house and third-party cultivation. We value our relationship with SNDL and their shared commitment to cultivation excellence,” commented Aurora CEO Miguel Martin.
Aurora Cannabis last traded at $8.96 on the TSX.
Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
