Aurora cannabis advances premiumization strategy by completing acquisition of thrive cannabis, and its award-winning greybeard brand, in a margin accretive transaction

Nasdaq | tsx: acb edmonton, ab , may 5, 2022 /prnewswire/ - aurora cannabis inc. (the "company" or "aurora") (nasdaq: acb) (tsx: acb), the canadian company defining the future of cannabinoids worldwide, today announced it has completed its previously announced acquisition of terrafarma inc. (parent company of thrive cannabis) ("thrive") (the "transaction") for aggregate initial consideration of $38 million paid in cash and aurora common shares ("aurora shares"), and up to $30 million in potential earnout amounts, payable in cash, aurora shares or a combination of both (at the election of aurora), subject to thrive achieving certain revenue targets within two years of closing of the transaction. "with the transaction closing, we officially welcome geoff hoover and his team to aurora," said miguel martin, ceo of aurora.
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