Canada's Aurora Cannabis Inc. ACB, +15.82% ACB, +15.14% said Tuesday it has agreed to acquire a 51% stake in Portugal's Gaia Pharma Lda., with plans to establish a local facility to produce medical cannabis and derivative products. Terms of the deal were not disclosed. The company, which was granted permission to build an EU GMP-compliant cannabis cultivation facility by the Portuguese Health Ministry, will be renamed Aurora Portugal Lda. Construction of the new facility will be carried out in phases with the first expected to be completed by the third calendar quarter of 2020. The first phase is expected to result in production capacity of about 2,000 kg a year, growing to 4,000 kg a year once the second phase is completed. U.s.listed Aurora shares were up about 1% premarket, and have gained about 47% in the year to date, while the S&P 500 SPX, +1.05% has gained about 12%.