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article imageAurora Cannabis signs deal to buy Whistler Medical Marijuana

By Karen Graham     Jan 14, 2019 in Business
Aurora Cannabis Inc. announced today that the company plans to acquire all the issued and outstanding shares of privately held Whistler Medical Marijuana Corporation, valued at up to $175 million.
Aurora Cannabis is one of the world's largest and leading cannabis companies, with a funded capacity in excess of 500,000 kilograms annually and sales and operations in 22 countries across five continents,
Aurora says its acquisition of Whistler is expected to provide them with a "premium and differentiated organic certified product suite" that will enhance both their medical and adult-use product line while firming up its West Coast cannabis market, according to a press release.
Whistler operates two indoor production facilities in British Columbia. The first facility is located in Whistler and the second one is located about a 20-minute drive away. It is a recently licensed, purpose-built, state-of-the-art facility.
When the new facility reaches full production, which is anticipated to happen in the summer of 2019, the two facilities will have a combined production capacity of over 5,000 kilograms per year.
The market for pot is in full bloom thanks to burgeoning industrial growing operations  marijuana ed...
The market for pot is in full bloom thanks to burgeoning industrial growing operations, marijuana edibles and a higher demand for equipment from those who want to grow -- or consume -- cannabis at home
Josh Edelson, AFP/File
Organic grower certification
Whistler already sells medical cannabis derivatives internationally to both Australia and the Cayman Islands and has achieved positive cash flow since 2015, with EBITDA margins in excess of 30 percent. The company has always been consistent in its approach to ensuring consistency, quality, and maintaining its organic commitment.
Whistler also is certified by the Fraser Valley Organic Producers Association (FVOPA) and conforms to International Organic Growing Standards. The company's second facility was constructed in compliance with EU GMP standards which, upon certification, will enable the Company to supply organic certified cannabis products to the European market.
Terry Booth, CEO of Aurora said, "We intend to accelerate the completion of Whistler's Pemberton expansion project and leverage our domestic and international distribution channels to increase market reach for their exceptional products. Whistler has established leadership in the organic cannabis market, and we look forward to welcoming Christopher and his team to the Aurora family."
Christopher Pelz, CEO and Founder of Whistler stated: "With its commitment to the highest product quality standards, as well as its large footprint in both the Canadian and international cannabis markets, Aurora is the ideal partner for Whistler to enhance our growth and margin profile. We feel there is a strong cultural fit, and believe that Aurora is the right home for us to maintain our organic craft cultivation identity while being able to leverage the resources and capabilities of a large and rapidly growing global company."
More about aurora cannabis, whistler medical marijuana, allstock deal, $175 million, Business
 
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