Canadian marijuana giant Aurora Cannabis is getting deeper into the hemp space, announcing Tuesday that it plans to acquire the rest of a hemp company it partially purchased last year.
Aurora, which already owns 52% of the company, agreed to pay 1.04 Canadian dollars (78 cents) per share, which values Hempco at roughly CA$63.4 million.
Hempco provides Aurora with raw hemp for CBD extraction and is expanding a CBD processing factory in Nisku.
Edmonton, Alberta-based Aurora has been flexing into the hemp space since at least 2017.
Last year, the company acquired two Lithuanian hemp producers, Agropro UAB, and its sister firm, Borela UAB.