Seeking to expand with additional investment opportunities in the cannabis industry, Aurora Cannabis Inc. (NYSE: ACB; TSX: ACB) just added a brand-new position to the company’s senior management team.
This morning, Aurora announced the creation of the Executive Vice President of Corporate Development and Strategy position, which has been filled by Carey Squires.
Squires has previous experience with Aurora, assisting the company in a convertible notes offering while he served as Managing Director and Co-Head of Equity-Linked Capital Markets for BMO Capital Markets.
In his new role, Squires will report to Aurora’s Executive Chairman Michael Singer, who commented:
The newly formed VP of Corporate Development position is the second major hire from Aurora in recent weeks focused on investments and acquisitions.
Last month, Aurora appointed Trian Fund Management CEO Nelson Peltz to the role of Strategic Advisor to advise the company on global expansion efforts.
In addition to a variety of strategic partnerships with companies such as Radient Technologies, Micron Waste Technologies, and High Tide, Aurora Cannabis currently houses a roster of 15 wholly-owned subsidiaries. That number is expected to increase as the company acquires majority shares in global cannabis entities.
Most recently, they acquired a 51% stake in Portuguese medical marijuana company Gaia Pharm Lda, which was subsequently renamed to Aurora Portugal Lda.
Those investments have also included Canadian companies such as Choom Holdings, which recently hit several major milestones stipulated under the terms of the investment, including building 17 retail sites.
Choom is additionally moving into U.S. operations after signing a letter of intent last month to acquire 95% of a Florida company that has applied for licensing to cover 25 retail locations.
In other recent global expansion news, Aurora is now officially selling Pedanios 5/1 branded cannabis oils to German pharmacies. That move follows the company previously supplying dried flower products in Germany via Aurora Deutschland.