Canadian Weed Giant Ventures Into Brazilian CBD Market Via New Partnership

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

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Photo: Courtesy of Kimzy Nanney on Unsplash

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