Aurora Cannabis just made an announcement regarding their intended acquisition of Whistler Medical Marijuana Corp. The announcement was released on January 14th stating that Aurora had entered into a letter of intent (LOI) to purchase Whistler Medical Marijuana Corp for an estimated 175 million dollars Canadian. This equals a 132 million dollar investment in the US.
Cam Battely, a chief corporate officer at Aurora, was quoted in a phone interview with MarketWatch saying,
“I would call “Whistler” the crown jewel of organic cannabis production worldwide.”
Whistler Medical Marijuana Corporation currently has exportations of cannabis derivatives going to the Cayman Islands and other places. You can expect the acquisition of Whistler by Aurora to open new doors aiming to increase this global trade.
The cannabis industry is shaping up to be a multi-billion-dollar one extremely fast. One might say the new legal green sector is growing like a weed. Recently Altria made an investment of 12.8 billion dollars in the company Juul. A rival company of Aurora cannabis, Canopy Growth Corp, also announced it would be investing between 100 to 150 million dollars in the New York cannabis industry. Canopy Growth Corp recently was granted the necessary license allowing them to produce and process hemp in the state of New York.
As the draconian days of yesteryear supporting marijuana prohibition come to an end corporate investors are turning to this new market and spending billions. The cannabis industry has seen a substantial surge of investments and is beginning to see the end of prohibition. The United States of America is an excellent example of a country that is falling behind in the global cannabis trade. While politicians there play with the lives of their citizens’ other countries have moved beyond these childish games. Meanwhile, investors take their billions of dollars somewhere else.