Canada’s Aurora Cannabis Now Largest Cannabis Producer In World
Edmonton’s Aurora Cannabis acquires MedReleaf in $3.2-billion deal.
May 14, 2018
by Canadian Packaging staff
Edmonton-headquartered Aurora Cannabis Inc. says it intends to buy all common shares of MedRedleaf Corp. of Markham, Ont. in a $3.2 billion deal that will make the combined company’s net worth to be over $7 billion—apparently more than what was spent by Canadians in 2017.
That guesstimate is provided by Statistics Canada who estimate that Canadians spent $5.7 billion on marijuana in 2017, and yes, 90 percent of it was obtained illegally.
Aurora Cannabis says that with the combined resources, it will be able to produce 570,000 kilograms of cannabis a year—more than any other Canadian producer.
It says it is now the largest cannabis producer in the world.
Even before the proposed deal to acquire MedRedleaf, Aurora Cannabis was in the process of constructing an 800,000-square-foot growing facility—the world’s largest such production site—on Edmonton International Airport lands.
Last month, Aurora Cannabis said it was going to begin construction on another site in Medicine Hat, Alberta, this one 1.2 million square feet in size.
Company information available at https://www.auroramj.com/.