Aurora Cannabis Acquires Remaining Stake in MedReleaf Australia (Indica Industries)

February 8, 2024

Aurora Cannabis, through a wholly owned subsidiary, acquired the remaining ~90% equity interest in Indica Industries Pty Ltd (doing business as MedReleaf Australia) at an enterprise value of AUD$50 million. Consideration included AUD$9.45 million in cash and approximately 69.5 million Aurora common shares; MedReleaf Australia generated roughly AUD$40 million of trailing 12-month net revenue and holds the #2 position in the Australian medical cannabis market.

Buyers
Aurora Cannabis Inc.
Targets
MedReleaf Australia (Indica Industries Pty Ltd)
Sellers
Selling shareholders of Indica Industries Pty Ltd (MedReleaf Australia), Russell Harding, Nathan Davis
Location
Australia
Transaction Type
Buyout

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