Aurora Cannabis surged more than 9% to $8.10 a share Monday after announcing that its extraction-technology partner Radient Technologies has received its Standard Processing License from Health Canada. Shares are trading at their highest level since November 7.
Aurora says Radient’s proprietary-extraction technology can achieve much higher throughputs than is possible with existing benchmark technologies. It also has the efficiency and ability to preserve the full spectrum of cannabinoids and terpenes found in the source material, the company said.
“Early on we identified that the ability to extract cannabis and hemp at large-scale while preserving quality would be a crucial competitive advantage to address the rapidly growing market for derivative products, such as vapes pen solutions, softgels, edibles, and beverages,” said Terry Booth, Aurora’s CEO in a press release.
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