Cronos Sells Its Stake In A Medical-marijuana Facility To Rival
According to Business Insider, on Monday The marijuana producer Cronos Group announced that it has sold all its entire 19% stake in Whistler Medical Marijuana to rival Aurora Cannabis.
Aurora issued shares to pay approximately 175 million Canadian dollars (1.4 million) for the stake, which is subject to certain working capital adjustments and holdbacks.
Cronos issued a statement saying it has received about 2.5 million Aurora shares worth about 24.6 million Canadian dollars and will receive another 7.6 million Canadian dollars upon reaching certain milestones.
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