Home / Business / Aurora plans "significant" entry into the US in "a very short time" and expects GMP certification

Aurora plans "significant" entry into the US in "a very short time" and expects GMP certification

Interior of the Aurora Sky facility in Edmonton, Alberta. (Photo courtesy)

Canada's largest commercial medical cannabis company in terms of sales and production plans to capture another entry point into the US market in the near future, an executive in the company said in an interview. [19659003] Aurora, headquartered in Edmonton, Alberta, is already engaged on US market terms through Australis Capital, a Las Vegas-based investment group spun off a year ago.

In a conference call with investors a day later Aurora CEO Terry Booth said that Aurora is "laser-focused" to explore opportunities in the US using hemp-based CBD.

Aurora's strategic partners and Australis "help us to talk to some of the best companies in the world". he said on the phone.

Chairman Michael Singer added, "We see the US market as a tremendous opportunity. This is an important goal for the financial year 2020. We expect that … we will have a significant presence in the US in the coming quarters. "

Canadian companies have made large investments in the US since the Farm Bill was passed last year.

The industry heavyweights Canopy Growth, Tilray and Cronos Group have already made plans to spend hundreds of millions of dollars.

Aurora's chief corporate officer, Cam Battley, said the Alberta company does not rule anything out.

"I expect that we will enter the US in a very short time with another and a major entry point." Battley said Marijuana Business Daily in a telephone interview.

"We are learning the strengths and Weaknesses of (multi-national operators) and other business models. Short-term derived from hemp on CBD because that can now be done. It is now fully permitted.

"We also deal with things that can be more complicated and that require us to be smart based on what Canopy did."

Battley referred to Smith's Falls in Ontario Canopy's Deal to Acquisition of Acreage Holdings, a New York cannabis company, if and when the US legalizes the production and sale of marijuana across the country.

Aurora also announced expectations for outdoor production in Canada next week, outweighing outdoor production beyond Canada.

"We know that we will use outdoor farming in several parts of the world as a piece of the puzzle," said Battley MJBizDaily .

Canadian free-range production will not be used for commercial sale and will facilitate the study of cropping techniques for the time being.

Aurora says there are weeks to the addition of two more EU G GMP (Good Manufacturing Practice) certifications in Canada.

EU GMP certification – the recognized seal of compliance for international quality standards – is the key to access to international markets for medical cannabis through export Export-quality medical marijuana.

Worldwide sales of medical products in the previous quarter were only $ 4 million ($ 3 million).

The two facilities – Aurora Vie at Pointe-Claire, Quebec and Aurora River at Bradford – together have a production capacity of 32,000 kilograms per year.

"EU GMP is rightly becoming an international standard, not only in the European Union but elsewhere in the world," Battley said. "It's good for us as an industry, it's good for us to have strict regulations, regulation is a good thing, we should accept it."

Australis trades on the Canadian Stock Exchange as AUSA.

Aurora's shares Traded on the New York Stock Exchange and the Toronto Stock Exchange as ACB.

In-depth insights into the investment trends and agreements that drive the cannabis industry. Sign up for our premium subscription investor service Intelligence.

Source link