Organic products are getting ready to see an infusion of cash from the Cannabis industry. This is because Aurora Cannabis is purchasing Whistler Medical Marijuana Corporation for a C$175 million worth of stock or $132 million USD. An all-share transaction will take place between WMMC and Aurora Cannabis Inc per an announcement released yesterday. Whistler is behind what some refer to as one of the most iconic Canadian cannabis brands around as they pride themselves in providing true certified organic BC bud.
WMMC’s Global Reach
Whistler has a sound reputation with consumers and has worked on building their reputation since 2013 when they were founded. WMMC currently conducts operations at two licensed indoor production facilities and their products can be found across Canada as well as cannabis derivatives being exported to the Cayman Islands and Australia.
Intent to Acquire
The announcement by Aurora to enter into a letter of intent (LOI) to acquire Whistler Medical Marijuana Corporation shows the large-scale that cannabis investors are spending. This multi-million dollar investment comes just shortly after a significant investment by Altria who invested 12.8 billion dollars in JUUL. Investors are taking their millions of dollars to places where cannabis is legal. Countries still supporting draconian cannabis laws are not only hurting their citizens but significantly affecting the economy. In addition, they are also losing out on participating in a booming global trade.
Aurora Chief Corporate Officer Cam Battley stated the following in an interview regarding this investment;
“I would call [Whistler] the crown jewel of organic cannabis production world-wide. It’s the first organic-certified company, and now we’ve essentially got the market to ourselves.”
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