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Aurora Cannabis buys stake in Edmonton liquor store chain
Aurora Cannabis buys stake in Edmonton liquor store chain to launch marijuana retail shops
Companies plan to convert existing liquor stores into cannabis dispensaries.
Aurora Cannabis Inc. has inked a deal to buy a minority stake in an Edmonton-based liquor store corporation which plans to launch a brand of cannabis retail stores across Western Canada.
Under the deal, Aurora will acquire a 19.9 per cent stake in the Liquor Stores N.A. Ltd. for $103.5 million through a non-brokered private placement, where a company sells stock directly to private investors to raise capital.
Aurora, an Alberta-based medical marijuana company, will also have an ability to increase its interest in Liquor Stores up to 40 per cent with an additional investment.
Gives them pretty large coverage and scope by the look of it...!!