International legal practice Osborne Clarke has advised Aura Health Inc. on the acquisition of Pharmadrug Production GmbH. Aura has entered into a definitive share purchase agreement to acquire an 80% equity interest in the licenced medical cannabis distributor.
The total purchase price for the acquisition is EUR 4.6 million. Aura will advance EUR 400,000 to Pharmadrug as shareholder loan to assist Pharmadrug to maintain appropriate levels of working capital. The vendor of the Pharmadrug equity interest is Anquor Pharmaceuticals UG (“Anquor”).
Aura is building an international network of vertically integrated cannabis assets. Through an established product line of cannabis-infused edible products and oil extracts, Aura is dedicated to building a high margin downstream business in the medical marijuana sector.
Pharmadrug is a German pharmaceutical distribution company with over 20 years of operating history. Pharmadrug has a Schedule I European Union narcotics licence that allows it to distribute medical cannabis to pharmacies in Germany and the rest of the Eurozone as markets become legalized.
An Osborne Clarke team led by corporate partner Fabian Christoph advised Aura on this transaction. The team included Alexandra Nautsch (Corporate), Piet Weinreich (Regulatory), Philipp Raben and Mattis Aszmons (both Employment).