In anticipation of the legalization of recreational cannabis, there’s been talk about the Canadian cannabis industry likely becoming a 22.6 Billion dollar industry. With numerous acquisitions, expansions, and developments 2018 is shaping up to be extremely exciting. This week, Aurora, Namaste, Canopy, and WeedMD were amongst the most active players in the game.
01/21/2018 – 01/27/2018
Auroras hostile takeover bid has finally found closure.
This takeover bid was not short lived and it has finally come to a close. The bid concludes with Aurora buying CanniMed for 1.1 billion dollars. Due to the acquisition, Aurora will become the biggest cannabis producer worldwide. Although none quite so big, this takeover bid is not the only one of its kind in the cannabis industry’s short history.
Canopy Growth Closes Green Hemp Industrie Acquisition
Canopy Growth has acquired the assets and intellectual property of Green Hemp Industrie. Green hemp Industrie’s founder, Jason Green, has been welcomed into Canopy Growth and is now a part of their team. The combination of Green Industrie’s proficiency in hemp harvesting and their selection of CBD-rich hemp genetics as well as Canopy Growth’s in-depth knowledge of cannabinoid extraction will make Canopy a competitive leader in CBD production. Canopy will harvest and extract hemp as well as create several hundreds of jobs through the innovation of a new agricultural sector. Canopy is expecting massive growth in this year alone and will equip its Tweed Grasslands facility with hemp extraction infrastructure.
Namaste to Purchase Medical Marijuana from Supreme
As soon as CannMart, Namaste’s subsidiary, becomes a licensed producer under ACMPR they will enter into a supply agreement with Supreme’s subsidiary 7ACRES. CannMart has agreed to purchase 1000 kgs of high-quality medicinal cannabis from 7ACRES in 2018. Namaste is excited to have secured premium product and looks forward to a long-term relationship with Supreme.
WeedMD is now Selling Cannabis Oil
WeedMD has begun selling cannabis oil. The company has created two cannabis oils; Axis and Entourage. These two different types of cannabis oils are now available for their medicinal patients. WeedMD’s CEO announced that their education program aids in the accessibility of these cannabis oil products through fostering cannabis knowledge and awareness. Axis was developed for WeedMDs senior care market while Entourage was created specifically for WeedMD’s patients under the ACMPR program.
Updates on Aurora’s International developments
On January 23rd Aurora Cannabis announced several updates on their affairs in Italy and Denmark. Two weeks ago, Aurora won Italy’s first-ever tender. This first tender will consist of 100 kgs containing three parts of different cannabinoid profiles. While the one-million square foot facility is being built, Aurora Nordic will begin cultivating in an existing facility in Denmark, provided they receive licensing. This allows cultivation to begin as soon as this summer.
Tune in next time to keep up with the ever-growing cannabis industry!