Binske’s parent company Praetorian Global LLC announced a collaboration Thursday with Aurora Cannabis Inc. (NYSE: ACB) that it said will enable the private cannabis company to reach international markets.
Per the deal, Aurora will license Binske intellectual property from Praetorian as Aurora enters the Canadian edibles marketplace.
The importance of the deal lies in Binske’s new consumer reach, the company said: its products will now be accessible to 82 million people in 12 U.S. states and all Canadian provinces, or 52% of the U.S. and 100% of the Canadian population.
Don’t miss out on the top cannabis stories of the day. Click here to sign up for our daily insider newsletter.
“While most of the industry was focusing on building up hard assets [acquiring licenses/real estate, building out production facilities and retail outlets] we have been solely focusing on developing world-class IP,” Jacob Pasternack, the founder, chairman and CEO of Praetorian, said in a statement.
“We’ve invested our time, energy, and resources in a scalable, and most importantly, a repeatable process that empowers our partners to deliver the highest quality cannabis products to every legal cannabis territory.”
Praetorian Global was founded in 2015, and together with its luxury cannabis brand Binske, has been expanding for years via IP deals.
Aurora shares were down 0.27% at $3.66 at the time of publication.
© 2019 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.