Aurora Cannabis (TSX: ACB) (NYSE: ACB) has expanded its distribution network to Israel. The company this morning announced that it has entered into a supply arrangement with that of Cantek, an Israel-based medical cannabis operator.
The arrangement saw Aurora complete its first shipment to the company last week, with annual shipments said to be at minimum 4,000 kilograms of dried cannabis flower in aggregate. The product will then be processed into finished product and sold jointly under the Aurora and Cantek brands within Israel.
The supply arrangement is for an initial to year period, with the option to extend being present. Financial terms related to the arrangement were not released.
The arrangement enables Aurora access to the large distribution network Cantek has with drugstore chains, distribution companies, and clinics within the region. The company also hinted that the potential to expand to additional international markets is also present under the current arrangement, however more details were not provided.
Aurora Cannabis last traded at $9.23 on the New York Stock Exchange.
Information for this briefing was found via Sedar and Aurora Cannabis. 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.
One Response
Why is everyone following what Aphria been doing, going Nasdaq, supply deal with Israel and stuff…