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Sep 18, 2018

Aurora confirms it’s held ‘exploratory’ talks with beverage companies

Aurora Cannabis confirms it's held 'exploratory talks' with beverage makers

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Aurora Cannabis Inc. said Tuesday it does not have an agreement in place with any beverage companies, but confirmed it has engaged in exploratory discussions with a number of firms after BNN Bloomberg reported that the Canadian pot producer is in talks to produce marijuana-infused drinks with The Coca-Cola Co.

“The company's policy is not to comment on speculative media reports,” Edmonton-based Aurora said in a release responding to a request from the Investment Industry Regulatory Organization of Canada.

“The company does confirm that it engages in exploratory discussions with industry participants from time to time. At this time the company confirms there is no agreement, understanding or arrangement with respect to any partnership with a beverage company.”

Shares in Aurora rose 2 per cent after trading resumed at 10:45 a.m. ET on the Toronto Stock Exchange. The shares were halted earlier Tuesday morning pending the comments by the company. 

The disclosure to IIROC comes after Aurora CEO Terry Booth told BNN Bloomberg in an interview Monday that the company has held talks with at least three beverage companies in the past three months. Booth said he could not comment on Coca-Cola but said the world’s biggest beverage company “would be a great partner.”

Cannabis Canada is BNN Bloomberg’s in-depth series exploring the stunning formation of the entirely new – and controversial – Canadian recreational marijuana industry. Read more from the special series here and subscribe to our Cannabis Canada newsletter to have the latest marijuana news delivered directly to your inbox every day.