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Jan 5, 2018

Aurora to buy 17.6% stake in organic pot grower for $55M

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Aurora Cannabis Inc (ACB.TO) said on Friday it would buy a 17.6-per-cent stake in privately-held marijuana grower Green Organic Dutchman Holdings for $55 million, the Canadian company's second investment in as many days.

Aurora will get the rights to buy up to 20 per cent, or more than 20,000 kilograms of Green Organic Dutchman's annual production of organic cannabis at full capacity.

The deal also allows Aurora to purchase up to 33 per cent of Ontario-based Green Organic's production if the company raises its ownership to 31 per cent.

Vancouver-based Aurora on Thursday announced a joint venture with Danish tomato and pepper producer Alfred Pedersen & Son to make and sell cannabis in Europe.

Aurora and rivals Canopy Growth (WEED.TO) and CanniMed Therapeutics (CMED.TO) are battling for market share as Canada is set to legalize recreational marijuana during the summer season, becoming the second country in the world to do so after Uruguay.