Aurora Cannabis (NYSE:ACB,TSX:ACB) announced a plan to acquire all issued and outstanding shares of the Whistler Medical Marijuana Corporation.
As quoted in the press release:
Whistler operates two indoor licensed production facilities, with its first located in Whistler, British Columbia, and the second, a recently licensed, purpose-built, state-of-the-art facility located a 20-minute drive from the Whistler facility. Once the second facility reaches full capacity (anticipated for Summer 2019) the facilities are anticipated to have a combined production capacity of over 5,000 [kilograms] per year. Whistler sells medical cannabis derivatives internationally to both Australia and the Cayman Islands, and through the addition of Aurora’s deep experience in completing EU GMP certified facilities and its large global distribution network, Aurora plans to pursue additional international export opportunities.
“This transaction adds an iconic, organic certified BC-based brand with exceptional traction and a significant price premium in both the medical and retail markets,” said Terry Booth, CEO of Aurora. “We intend to accelerate the completion of Whistler’s Pemberton expansion project, and leverage our domestic and international distribution channels to increase market reach for their exceptional products. Whistler has established leadership in the organic cannabis market, and we look forward to welcoming Christopher and his team to the Aurora family.”