OGI - Aurora Cannabis drives Canadian rivals higher with deal to acquire TerraFarma

Canadian licensed producers have made a comeback in the pre-market Wednesday after Edmonton-based Aurora Cannabis (NASDAQ:ACB) announced an agreement to acquire TerraFarma for $38 million in cash and stock. TerraFarma is the parent company of Thrive Cannabis, an Ontario-based vertically integrated cannabis company. Transaction expected to close in Aurora’s (ACB) Q4 fiscal 2022 could immediately add positive EBITDA helping the company to reach EBITDA profitability in H1 fiscal 2023, Aurora (ACB) said in a press release after the close Tuesday. The latest deal in the Canadian cannabis space has propelled the companies serving the market higher in early trading despite their underperformance over the past 12 months, as shown in this graph. In addition to Aurora Cannabis (ACB), notable gainers include, Tilray (NASDAQ:TLRY), Hexo Corp (NASDAQ:HEXO), and Sundial Growers (NASDAQ:SNDL), while Canopy Growth (CGC), OrganiGram (OGI) and Cronos (CRON) are also trading higher. The latest transaction among Canadian cannabis players comes

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Aurora Cannabis drives Canadian rivals higher with deal to acquire TerraFarma