Aurora Cannabis Inc. (NYSE: ACB) announced this week that the company has entered into an exclusive agreement with the Ultimate Fighting Championship (UFC). The agreement is defined as an exclusive “multi-year, multi-million dollar” partnership where the two corporate entities will conduct research in the ability of hemp-derived cannabidiol (CBD) to assist athletes with overall general wellness and recovery. The newly formed relationship between Aurora Cannabis and the UFC is a huge step in the direction that Aurora wants to take with CBD products for athletes.
Terry Booth, Chief Executive Officer of Aurora Cannabis, stated: "This global partnership places focus squarely on the health and well-being of UFC's talented and highly trained athletes. The Aurora-UFC research partnership creates a global platform to launch targeted educational and awareness campaigns, while creating numerous opportunities to accelerate our global CBD business."
A Performance Institute in Las Vegas, owned by the mixed martial arts organization, will perform research studies with CBD that are limited to pain management, recovery from injury or exercise, and mental health.
President of the UFC, Dana White, stated: "Since the day we opened the Performance Institute, our primary goal was to offer UFC athletes the best possible training, nutrition, and recovery services. This partnership with Aurora is an extension of that goal, and we're looking forward to collaborating with Aurora to find new ways to improve the health and safety of athletes who compete in UFC."
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Note: The author of this article does have a current position in Aurora Cannabis stock.