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CannaRoyalty Investee Anandia set to be Acquired by Aurora
Jun. 12, 2018 09:20AM PST
Cannabis Investing News
CannaRoyalty announced its investee company Anandia Laboratories signed a binding term sheet to be acquired by Aurora Cannabis for nearly C$115 million.
CannaRoyalty (CSE:CRZ; OTCQX:CNNRF) announced its investee company Anandia Laboratories signed a binding term sheet to be acquired by Aurora Cannabis (TSX:ACB) for nearly C$115 million.
As quoted in the press release:
CannaRoyalty owns 16.5 [percent] of Anandia, and its equity stake is valued at approximately $19 million based on the acquisition valuation, representing an almost 400 [percent] return on investment.
Anandia is Canada’s leading cannabis analytics, testing and genetics company. Under CannaRoyalty’s previously announced investment relationship, CannaRoyalty invested approximately $4 million in Anandia beginning in February 2017 at a post-money valuation of $20 million. This included $1.5 million paid in cash, over $2 million in stock and $500 thousand in equipment and services.
“With a historical corporate focus on being an active investor and operator in the legal cannabis industry in North America, we have deployed substantial capital across several jurisdictions. We are currently monetizing our non-core investment portfolio to drive value for shareholders, with a primary focus on California and Canada,” said Marc Lustig, CEO of CannaRoyalty.
Source: www.newswire.ca
