Aurora Cannabis signs joint venture deal with European greenhouse vegetable company
Alberta-based Aurora Cannabis Inc. has signed a deal to form a joint venture with European greenhouse vegetable company Alfred Pedersen & Son (APS).
Under the deal, Aurora will own a 51 per cent interest in Aurora Nordic Cannabis A/S, based in Odense, Denmark.
APS received its license to grow marijuana from Denmark’s Medicines Agency effective Jan. 1.
The joint venture will focus on the cultivation and sales of cannabis in Denmark, Sweden, Norway, Finland and Iceland.
Aurora Nordic plans to build a 93,000-square-metre automated cannabis production facility.
Under the terms of the joint venture, the companies intend to fund construction through a combination of conventional, non-dilutive financing and direct investment by Aurora and APS.
Aurora Cannabis is building its Aurora Sky cannabis greenhouse near the Edmonton International Airport, which it says will have capacity to produce 100,000 kilograms of cannabis per year.
The facility will be a closed system hybrid greenhouse capable of precise control of light, heat, humidity and nutrients to produce “ultra low cost” cannabis. To ensure no contaminants enter the system, the air system is designed to be overpressured and overhead robotic cranes will help to replace humans in the growing areas.
© 2018 The Canadian Press