Aurora Cannabis, one of Canadas largest licensed weed producers has scooped up rival cannabis producer MedReleaf in a $3.2 billion all-stock deal that sets the stage for Aurora to become the worlds biggest legal weed producer.
Combined, Aurora and MedReleaf have the funded capacity to produce 570,000 kg per year of cannabis through nine facilities in Canada and two in Denmark, far surpassing the likes of Canopy Growth Corporation, the countrys biggest weed producer which is currently licensed to produce 31,000 kg of weed and weed-related…
This transaction, upon completion, will make Aurora the largest cannabis company in the world by funded capacity, market capitalization and revenue, Cam Battley, Auroras Chief Corporate Officer told VICE Money.
Of all the companies in the sector, these are the two that most belong together because of high production efficiency and superior technology, Battley said.
MedReleaf was founded on the belief that by striving to be the Medical Grade Standard and bringing the highest level of quality and rigor to the cannabis industry, we would produce safe, consistent, and effective products that help improve the quality of life of our patients, MedReleaf CEO Neil Closner…
[/vc_column_text] [vc_column_text el_class=”topfeed-tags”] Tags: cannabis, rival cannabis producer, cannabis producer MedReleaf, largest cannabis company, Aurora [/vc_column_text] [/vc_column] [vc_column width=”1/2″] [vc_separator] [vc_column_text el_class=”topfeed-tweet”] https://twitter.com/vicecanada/status/996013735159484416 [/vc_column_text] [vc_column_text el_class=”topfeed-embedly”] Aurora buys MedReleaf and becomes largest cannabis company in the world [/vc_column_text] [/vc_column] [/vc_row] [vc_row el_id=”_news_business_aurora_medreleaf_pot_deal_1_4661629_”] [vc_column width=”1/2″] [vc_separator] [vc_column_text]
Aurora Cannabis will buy medicalmarijuana firm MedReleaf for $3.2 billion instock, cementing the company’s status as the biggest company in the fast-growing cannabis space.
The deal will see Aurora, which was valued at $4.5 billion on Friday, offer MedReleafshareholders 3.575 shares in Aurora in exchange for everyshare in MedReleafthat they hand over.
At current market prices, that places the value ofMedReleafat $29.44 per share or$3.2 billion in total an 18 per cent premium to where the company was valued on Friday.
If and when shareholders give their OK,the combined companywouldhave nine facilities in Canada and two in Denmark, enough to produce570,000 kilograms ofcannabis per year.
This is a transformational transaction that brings together two pioneering cannabis companies, both committed to high technology, high quality and low cost production, to create a powerful platform for accelerated growth and success on a global scale, Aurora’s CEO Terry Booth said of the deal.
The Canadian government, which is likely to legalize cannabis nationwide this summer, said it planned to allow home grows of up to four marijuana plants, which might yield 5lb in a year to an experienced grower, and is certainly consumable by an experienced smoker.
Cannabis is a sexed plant; the drug is the flower from the female.
For the home grower, this matters much less, and Graf says it helps someone develop their appreciation for the plant.
With strong weed no longer hard to find, home growing is a chance for connoisseurs to grow for CBD, a chemical commonly associated with the plants medicinal properties, or for a plants terpene profile (bouquet).
Instead, the state will allow possession and home growing, up to six plants, including two flowered females.
[/vc_column_text] [vc_column_text el_class=”topfeed-tags”] Tags: home growing, home grows, home grow pods, cannabis, Real Estate Association [/vc_column_text] [/vc_column] [vc_column width=”1/2″] [vc_separator] [vc_column_text el_class=”topfeed-tweet”] https://twitter.com/_deepakanand/status/996040986961694721 [/vc_column_text] [vc_column_text el_class=”topfeed-embedly”] Should I grow my own weed at home? Here’s what you need to know [/vc_column_text] [/vc_column] [/vc_row]