Aurora Cannabis takes 51% stake in Portugal's Gaia Pharma to push medical pot
said Tuesday it has agreed to acquire a 51% stake in Portugal's Gaia Pharma Lda., with plans to establish a local facility to produce medical cannabis and derivative products. Terms of the deal were not disclosed. The company, which was granted permission to build an EU GMP-compliant cannabis cultivation facility by the Portuguese Health Ministry, will be renamed Aurora Portugal Lda.
Construction of the new facility will be carried out in phases with the first expected to be completed by the third calendar quarter of 2020. The first phase is expected to result in production capacity of about 2,000 kg a year, growing to 4,000 kg a year once the second phase is completed. U.s.
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Cannabis company CannTrust's stock to start trading on the NYSE at the openShares of Canada-based cannabis company CannTrust Holdings Inc. will begin trading on the New York Stock Exchange Monday, under the ticker symbol "CTST." Shareholders who bought CannTrust shares on the OTC Markets Pink Open Market, under the symbol "CNTTF" may trade their shares on the NYSE beginning Monday. The company's shares will continue to also trade on the Toronto Stock Exchange under the symbol "TRST." "We are a fast-growing company that is continuously looking to increase our international presence," said Chief Executive Peter Aceto. "The NYSE listing is another significant milestone in the evolution of CannTrust and we are excited to share more about our planned growth initiatives in the near future." CannTrust's OTC shares had soared 49.8% over the past three months while the ETFMG Alternative Harvest ETF had climbed 21.6% and the S&P 500 had gained 6.1%.
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Cannabis Companies Need To Show They Are Serious BusinessA patchwork of regulations is making it difficult for cannabis companies to grow to their full potential.
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