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Aurora Cannabis Buys U.S. Firm to Access Lucrative CBD Market

May 20, 2020, 8:22 PM

Aurora Cannabis Inc. agreed to buy Reliva LLC, giving it a foothold in the U.S. as the Canadian company continues to move past its financial woes. Aurora shares rose as much as 29% in late trading in New York.

The $40 million stock deal will give Aurora a portfolio of CBD gummies, creams and tinctures, as well as a retail network of convenience stores to sell its own products into the much larger U.S. market. Closely held Reliva has no debt, and the acquisition will add to Aurora’s adjusted earnings immediately, the companies said Wednesday in a statement.

“For Aurora, ...