January 5, 2018 / 1:36 PM / 16 days ago

Canada's Aurora Cannabis to buy stake in organic marijuana grower

(Reuters) - Aurora Cannabis Inc (ACB.TO) said on Friday it would buy a 17.6 percent stake in privately held marijuana grower Green Organic Dutchman Holdings for C$55 million ($44 million), the Canadian company’s second investment in as many days.

Aurora will get the rights to buy up to 20 percent, or more than 20,000 kilograms of Green Organic Dutchman’s annual production of organic cannabis at full capacity.

    The deal also allows Aurora to purchase up to 33 percent of Ontario-based Green Organic’s production if the company raises its ownership to 31 percent.

    Vancouver-based Aurora on Thursday announced a joint venture with Danish tomato and pepper producer Alfred Pedersen & Son to make and sell cannabis in Europe.

    Aurora and rivals Canopy Growth (WEED.TO) and Cannimed Therapeutics (CMED.TO) are battling for market share as Canada is set to legalize recreational marijuana by July, becoming the second country in the world to do so after Uruguay.

    Reporting by Karan Nagarkatti in Bengaluru; Editing by Sriraj Kalluvila

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