Aurora Cannabis announced that a wholly-owned subsidiary of the company has closed the sale of its Medicine Hat, Alberta facility on July 21, 2023 to Bevo Farms, a wholly-owned subsidiary of Bevo Agtech. The sale of the Aurora Sun Facility was completed via Bevo Farms’ acquisition of one of Aurora’s wholly-owned subsidiaries. Aurora has a controlling interest in Bevo, one of the largest suppliers of propagated vegetables and ornamental plants in North America. Up to $15M could be payable over time by Bevo Farms to Aurora in connection with the Aurora Sun Transaction, based on Bevo Farms successfully achieving certain financial milestones at the Aurora Sun Facility.
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