Aurora Cannabis reports $25M net loss as it buys Australian medical pot firm - Edmonton - Read of Green
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Aurora Cannabis reports $25M net loss as it buys Australian medical pot firm – Edmonton

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Source: Marijuana Moment

Aurora Cannabis Inc. has announced a deal to buy the 90 per cent stake they don’t already own in medical cannabis company MedReleaf Australia.

The deal valued the Australian medical cannabis distribution company at AUD$50 million or about $44 million in Canadian dollars.

Edmonton-based Aurora says it paid A$9.45 million in cash with the balance in common shares issued.

The deal came as the company reported a third-quarter net loss from continuing operations of $25.2 million compared with a net loss of $62.4 million a year earlier.


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Aurora says the lower net loss stemmed from a $32.7 million increase in gross profit and a $10.4 million decrease in operating expenses.

Its total net revenue for the period ended Dec. 31 hit $64.4 million compared with $61.1 million a year prior.

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