Aurora Cannabis Inc. ACB ACB is expanding its hemp-derived CBD portfolio into Brazil.
What Happened
In partnership with Herbarium, one of the leading Brazilian companies in herbal medicine, the Canadian cannabis giant will launch the company's full-spectrum, single-source 3% CBD oil under the Herbarium brand.
The CBD oil is produced at Aurora's production facility in Uruguay, one of the only GMP-certified cannabis processing facilities in the country.
Why It Matters
Now available under the direction of medical doctors, patients across Brazil have access to high-quality CBD as part of their healthcare, Aurora said on Wednesday.
"We are proud to continue our international expansion and bring quality CBD products to Brazilians alongside our partner, Herbarium, a trusted brand in the market," Andre Jerome, EVP of global business development at Aurora said.
What's Next
Aurora continues developing its range of CBD oil products and, together with Herbarium, looks to expand their CBD offerings in Brazil over time.
"Brazil has strong growth potential, and we look forward to leveraging our leadership in the market to further unlock key opportunities in South America," Jerome continued.
Aurora Stock Follows Suit
Aurora's shares are trading by 0.5567% higher at $0.4877 as of Wednesday morning. The stock is rising amid the recent strong performance of the cannabis sector.
Cannabis stocks have risen over the past week on news that the Department of Health and Human Services (HHS) proposed reclassifying marijuana to a lower-risk drug category.
See Also: Weed Stocks Skyrocket, Could There Be More Upside? Analyst Draws Scenarios
These shifting conditions facing the cannabis industry will be discussed at the Benzinga Cannabis Capital Conference, so you won't want to miss out. Join us in Chicago this September 27-28.
Get your tickets today before prices increase and secure a spot at the epicenter of cannabis investment and branding.
Photo: Courtesy of Kimzy Nanney on Unsplash
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
The Benzinga Cannabis Capital Conference is coming to Florida
The Benzinga Cannabis Capital Conference is returning to Florida, in a new venue in Hollywood, on April 16 and 17, 2024. The two-day event at The Diplomat Beach Resort will be a chance for entrepreneurs, both large and small, to network, learn and grow. Renowned for its trendsetting abilities and influence on the future of cannabis, mark your calendars – this conference is the go-to event of the year for the cannabis world.
Get your tickets now on bzcannabis.com – Prices will increase very soon!