Aurora Cannabis Inc. has signed a deal to acquire Mexican company Farmacias Magistrales.
The deal to buy the pharmaceutical manufacturer and distributor follows an agreement last week that saw Aurora partner with the company.
READ MORE: Partnership to see Aurora Cannabis supply medical pot to Mexico
It says Farmacias recently became Mexico’s first federally licensed importer of raw materials containing THC.
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Aurora says Farmacias plans to use imported THC and CBD concentrates to produce various cannabis oil products for the medical market.
The Edmonton-headquartered pot producer says Farmacias has a reach of roughly 80,000 retail points, and 500 pharmacies and hospitals across Mexico.
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The price being paid was not immediately available, but Aurora says it will pay for the deal with Aurora shares, based on a valuation using revenue projections for Farmacias.
READ MORE: Aurora Cannabis ramping up production but recreational pot shortages will likely linger
The agreement also includes a contingent portion of up to 25 per cent payable on the achievement of certain milestones over the next 12 months.
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