Canada-based Aurora Cannabis has entered into a supply agreement with Cantek Holdings, one of the leading medical cannabis companies in Israel.
Under the terms of the agreement, Aurora Cannabis (ACB) will supply dried bulk flower to Cantek over a two-year period, with the option to extend the deal. The company intends to provide Cantek with at least 4,000 kgs of bulk dried flower annually. The finished product processed from the dried flower will be co-branded under the Aurora and Cantek brands for the Israeli market with the potential for additional international market sales.
Aurora Cannabis stated that it made the initial shipment of cannabis during the week of Nov. 16, 2020, after securing all necessary export and import permits. With this deal, the company now has a presence in two of the largest legal medical cannabis markets outside of Canada – Germany and Israel. (See ACB stock analysis on TipRanks)
Commenting on the deal, Aurora Cannabis’ CEO Miguel Martin stated, “We are excited about our strategic relationship with Cantek, a leader in the Israeli market. This agreement provides Aurora with a great opportunity to expand our medical cannabis brand and industry leading science in one of our key international markets of focus.”
Shares of Aurora Cannabis have declined 66.4% this year as the company reported mounting losses. The average price…
