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Aurora Cannabis Acquires Reliva, Enters Hemp Industry

Aurora Cannabis Acquires Reliva, Enters Hemp IndustryThe infamous marijuana stock, Aurora Cannabis (NYSE: ACB), is back in the headlines this week after its announcement to acquire the hemp company, Reliva. The acquisition was completed well ahead of schedule for approximately $45 million of Aurora’s common shares. This will allow Aurora cannabis to diversify its product offerings and enter the hemp industry – now trading as both a cannabis and hemp stock.

What’s all the buzz about Reliva?

Aurora Cannabis Acquires Reliva, Enters Hemp Industry

Reliva is a health and wellness-focused CBD retail brand based in the United States. The company believes in the power of traditionally hemp-derived CBD products created using industry-leading technology and knowledge about cannabis to be able to improve the quality of life for its clients. As a private company, Reliva did not make its financial statements public, so information about net profits and losses is still not accurately known. However, it is believed that the company generates around $14 million in revenue each year through 20,000 retail locations, online store presence, and contracts with several US-based retailers/store operators. Reliva’s strong revenues and broad market penetration may explain Aurora’s desire to acquire Reliva and close the deal so quickly.

Will the acquisition of Reliva help Aurora Cannabis maximize its operating scale, market reach, products, and services as expected?

The executive chairman and CEO of Aurora Cannabis, Michael Singer, is hopeful about the addition of Reliva to the Aurora Cannabis empire, as he expects that it will assist in being able to create a professional market leading cannabinoid platform that will help derive stronger profit streams than ever before. The primary incentive in bringing Reliva on board was to be able to tap into the US market as Aurora is located in Canada, whereas Reliva is US-based.

After the deal was struck, Aurora Cannabis experienced a 9.1% increase in shares on May 28th, which was refreshing, given recent drops in stock indexes. In fact, the stock is currently trading higher than its 52-week low by 2228.30%

About Aurora Cannabis

Aurora Cannabis, Inc. engages in the production, distribution and sale of cannabis products. It also produces and sells indoor cultivation systems and hemp-related food products. The company was founded by Terry Booth and Steve Dobler on December 21, 2006, and is headquartered in Edmonton, Canada. The portfolio for Aurora Cannabis includes Aurora, Aurora Drift, San Rafael ’71, Daily Special, AltaVie, CanniMed, MedReleaf, ROAR sports, and Whistler. As one of the leading licensed brand names in the marijuana industry, Aurora Cannabis provides its clients with products created from the latest technology such as hemp THC drops, oral sprays, oils, and soft gels along with traditional inhalation products.

Yes, Aurora Cannabis is a controversial marijuana stock for many reasons and you may want to hold off on investing in this stock for now. There are several other great marijuana stock investment opportunities to consider. Read up on why we think Aphria might be a better play.

Aurora Cannabis Acquires Reliva, Enters Hemp Industry

About Cannin: Your Marijuana Investment Experts

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