Aurora Cannabis Makes Initial Investment in CTT Pharmaceutical

Aurora Cannabis (TSX:ACB; OTCQB:ACBFF) announced it is acquiring an initial 9.14 percent ownership interest in CTT Pharmaceutical Holdings (OTC:CTTH).

As quoted in the press release:

The agreement includes an issuance of warrants enabling to Aurora to increase ownership to 42.5 [percent].

Commercial agreement

Additionally, the companies announced that, within 60 days, they intend completing a final commercial agreement, expanding the exclusivity agreement, announced first on April 16, 2018, which related to distribution in Canada only of CTT’s novel, patent-protected drug delivery technologies. CTT will now provide Aurora with global exclusivity to develop, manufacture and market CTT’s novel oral thin films wafers. The companies will work jointly towards obtaining Health Canada approval for introduction of the new products on the Canadian market, as well as obtaining commercial access to other international jurisdictions in which Aurora is active.

Click here to read the full press release.

Source: www.newswire.ca