Canadian cannabis firms Aurora Cannabis and CannaRoyalty have signed a letter of intent which would give Aurora exclusive rights to MüV brand products – to which CannaRoyalty holds the licensing rights – in Canada, Europe and Australia.
The products covered under the agreement include:
- MüV Metered Dose Inhaler
- MüV Transdermal Patch
- CBD Sports Gel
- CBD Hydrating Lotion
- THC Sports Gel
- THC Hydrating Lotion
- THC Pain Relief Cream
The products are developed by CannaRoyalty investee AltMed Enterprises. CannaRoyalty holds an 8.3 percent equity stake in AltMed, along with licensing rights for MüV products in carious jurisdictions. AltMed is headquartered in Sarasota, Florida.
“This agreement with Aurora represents a significant opportunity to accelerate the growth of AltMed’s award-winning MüV product line on an international scale, leveraging our relationship with one of the world’s most dynamic cannabis companies. The MüV line meets the growing need for specialized products with alternative delivery mechanisms, especially in critical jurisdictions, such as Canada and Germany, where consumers to date have been limited in terms of product choice.” – Marc Lustig, CannaRoyalty CEO, in a press release
The letter of intent gives Aurora exclusive rights for 90 days to negotiate a final agreement.
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