Aura Health Inc. (the "Company" or "Aura") (CSE:BUZZ) closed its previously announced (May 8, 2019) acquisition of an 80% equity interest in Pharmadrug Production GmbH ("Pharmadrug") for total consideration of €5.0 million. Pharmadrug is a cash flow positive German pharmaceutical distribution company with over 20 years of operating history and a Schedule I European Union narcotics license allowing for the distribution of medical cannabis to pharmacies in Germany and throughout the Eurozone as markets become legalized. Pharmadrug has supply agreements in place with Bedrocan International B.V., Canadian Licensed Producers, and is currently supplying medical cannabis to pharmacies in Germany. Minden Gross LLP acted for Aura in the purchase of Pharmadrug with a team led by Andrew Elbaz (Partner, Securities & Capital Markets), David Judson (Partner, Securities & Capital Markets), and Alex Katznelson (Associate, Securities & Capital Markets).
PRESS RELEASE
21 June 2019
BIG DEAL: Aura Health Closes Flagship German Acquisition Of 80% Of Pharmadrug GmbH
Minden Gross LLP
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Aura Health Inc. (the “Company” or “Aura”) (CSE:BUZZ) closed its previously announced (May 8, 2019) acquisition of an 80% equity interest in Pharmadrug Production GmbH (“Pharmadrug”)