Aurora Cannabis Buys ICC Labs

CBJ — Aurora Cannabis Inc. has signed an agreement to acquire marijuana company ICC Labs Inc. in a friendly, all-stock deal it valued at $290 million.

ICC has more than 70% of the market share in Uruguay, where cannabis is legal for adult consumer use. ICC also holds licenses in Colombia for the production of medical cannabis.

The transaction is subject to court approval and a two-thirds majority vote by ICC shareholders.