The deal positions Aurora as the country’s largest marijuana producer by market capitalization. “Our plans for CanniMed in Saskatchewan are very big. We’re not looking at cutting back: we’re actually looking at investing more and expanding more, and in fact accelerating the expansion plans that CanniMed already had in place,” Battley said. It was also stated that job cuts aren’t an expected outcome of the buy-out and on the contrary, the combined company will ramp up production to meet the anticipated increase in demand.The only loser in this deal is the Tragically Hip-backed Newstrike Resources“>Tragically Hip-backed Newstrike Resources, which CanniMed had agreed to buy in an all-stock deal. With the new terms now in place, CanniMed must pay Newstrike Resources a $9.5-million “break fee” as they are excluded from the acquisition.
About The Weed Blog
Since its inception, TWB has been based in activism and the mobilization and movements for marijuana policy reform happening around the country. It was created for one purpose: to facilitate a constructive conversation about marijuana in America. This includes both medical and recreational marijuana policy, as well as the marijuana industry and culture.