Canadian company Aurora becomes the largest cannabis producer in the world after merger

MIROSLAV TOMOSKI MAY 16, 2018
On Monday (May 14), Aurora Cannabis, a licensed medical marijuana grower in Canada, announced the largest merger the cannabis industry has seen so far. Aurora purchased another Canadian grower, MedReleaf, for $2.2 billion USD in stock, according to Bloomberg, making it the largest producer of cannabis in the world.

The company is now set to grow over a million pounds of cannabis annually across nine Canadian facilities as well as two European grow-ops it recently launched in Denmark.

The move is part of a pattern of consolidation in the Canadian cannabis industry as larger companies absorb smaller competitors ahead of nationwide legalization, expected to take effect in September.

In the past year, Aurora has acquired at least eight of its competitors including one of Canada’s oldest producers, CanniMed Therapeutics Inc.

“We’re not done,” Chief Executive Officer Terry Booth told reporters. “Over the next couple weeks, you’ll see some more activity from Aurora.”

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Jim Beam Heir Turns to Pot With Plan for a Cannabis Empire

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Shortly after Prohibition ended, one of Ben Kovler’s ancestors invested $5,000 in a family of distillers led by James Beauregard Beam.

Kovler, 39, sees similarities between the liquor industry of the 1930s, when his great-grandfather Harry Blum helped build Jim Beam into one of the most recognizable bourbon brands, and today’s market for cannabis. With the end of what he calls “Prohibition 2.0,” Kovler is preparing to take Green Thumb Industries public in Canada.

 GTI, a cultivator, processor and dispensary owner that operates in six U.S. states, plans to go public next month through a reverse merger with an already-listed Canadian company, Kovler, the firm’s founder and chairman, said in an interview. He’s also the biggest shareholder.
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