Aurora Cannabis Inc. (TSX: ACB) announced on May 22nd that the company is strategically investing into CTT Pharmaceutical Holdings Inc. (OTC: CTTH). Aurora will acquire a 9.14% ownership portion of CTT through a private placement in the form of a $1 million USD 5% convertible debenture. The agreement also allows Aurora to increase their ownership of CTT Pharmaceutical to 42.5%.
CTT Pharmaceutical is a leader in drug delivery through orally dissolving thin film strips or wafers that contain a specifically measured dosage. The film allows for immediate dosing that takes place within 5 to 10 minutes and the ingredients that make the film are FDA approved.
ACB increased by 5.56% on the date of this announcement made by Aurora Cannabis.