Aurora Cannabis divests itself of Green Organic Dutchman, hemp subsidiary

Canadian marijuana giant Aurora Cannabis has sold its remaining stake in a Toronto company that has a hemp subsidiary in Poland.

Aurora sold its shares in The Green Organic Dutchman (TGOD) for 86.5 million Canadian dollars ($64.9 million). Though the move means Aurora has divested itself of a TGOD subsidiary that makes CBD products, HemPoland, it still has stakes in other hemp ventures.

Last year, for example, Aurora acquired two Lithuanian hemp producers – Agropro UAB and its sister firm, Borela UAB.

The sale of TGOD, which gave Aurora an approximate return of 50% on its initial investment, involved 28.8 million shares, or about 10.5% of the company.

Despite no longer holding any shares in TGOD, Aurora does retain ownership of warrants allowing it to purchase up to 16.67 million shares in the company.

Aurora said its January purchase of Whistler Medical Marijuana made its interest in TGOD less strategic.

Edmonton, Alberta-based Aurora trades as ACB on the New York Stock Exchange and the Toronto Stock Exchange. The Green Organic Dutchman trades on the Canadian Securities Exchange as TGOD.

For analysis and in-depth looks at the investment trends and deals driving the cannabis industry forward, sign up for our premium subscription service, Investor Intelligence.