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Aurora Cannabis Announced Another Investment on February 5

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Dec. 4 2020, Updated 10:42 a.m. ET

Aurora Cannabis announced an investment

On February 5, 2018, Aurora Cannabis (ACB) (ACBFF) issued a press release that gave details on its latest investment in Liquor Stores NA (LIQ). It came ahead of the ruling on recreational cannabis in Canada (MJX). Aurora Cannabis recently acquired CanniMed Therapeutics (CMED) for $1.1 billion Canadian in a cash and stock deal. You can read more about the acquisition at Aurora Cannabis Acquires CanniMed Therapeutics.

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Liquor Stores NA in the United States

As of November 9, 2017, Liquor Stores NA operated a total of 253 stores, with 175 stores in Alberta and 33 stores in British Columbia, as you can see in the above map.

According to Liquor Stores’ MD&A (Management Discussions and Analysis) filing on November 9, 2017, the company also has 40 retail stores in the United States. Most of its stores are in Alaska at 22 locations, followed by 15 locations in Kentucky. The company also has two stores in New Jersey and one in Connecticut.

Retailing cannabis

With Aurora Cannabis’s investment, Liquor Stores NA is establishing new cannabis outlets and converting some of its existing retail stores into cannabis outlets, according to a press release.

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About the deal

Aurora Cannabis will acquire 19.9% ownership in Liquor Stores NA, for a total value of $103.5 million. After the initial investment, Aurora Cannabis will have the option to make additional investments in Liquor Stores NA up to a 40% interest.

Other deals in the market

On January 29, 2018, Aphria (APH) (APHQF) announced that it has signed a definitive agreement to acquire Nuuvera (NUUVF) for $826 million Canadian, or $8.50 Canadian per share. You can read more about it at Aphria Buys Nuuvera: Another Acquisition in the Marijuana Space.

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