Aurora Cannabis Inc (OTCMKTS:ACBFF) has entered into a binding agreement to take over Anandia Laboratories Inc. in a deal valued at $115 million. As per the terms of the deal, Aurora will issue a common share and a purchase warrant (for one half of the common share) for each of its common share to Anandia.
Aurora will acquire all of the shares from the shareholders of Anandia on a twenty-day VWAP basis.
What the Key Officials of Anandia Say About the Deal?
Chief Executive Officer and Co-founder of Anandia, Dr. Jonathan Page said the company has a vast collection of cannabis genetics along with in-depth chemical and genomic analysis. He said the deal with Aurora will provide access to scientific expertise, financial resources, and multiple cultivation sites to expedite the existing breeding efforts to develop next-generation cannabis genetics.
Aurora and Anandia have a strong belief in R&D based solutions. Amalgamation of both the firms will help to provide rich dividends to the growers, patients, and consumers by advancing the cannabis science. It will also enhance the leadership of Aurora in the cannabis space worldwide.
Chief Operating Officer and Co-founder of Anandia said the company has become a leader in cannabis testing with a strong focus on clients and science. Following the deal, the company will conduct its testing business independently and will issue an update to the stakeholders vindicating its stand. The company will maintain the confidentiality of the clients.
The company is expanding the capacity to meet the expected growing need of sample volumes with the legalization of its Vancouver based testing and product development laboratory.
Benefits to Aurora Cannabis Inc
Anandia has exclusive rights to a myriad of key genes in cannabinoid. It also has pending patents for the genetic markers. Aurora will greatly benefit from the know-how, proprietary assets and expert staff of Anandia in creating innovative cannabis cultivars.
The development of genome based variety and technological fortification will help to create customized metabolite profiles and increase resistance to disease. It will also help to increase crop time and enhance the crop yield.
Anandia will enhance its product testing, R&D as well as the product development facilities to satisfy the global and domestic demand with anticipated legalization of cannabis for adult use.