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Sep 17, 2018

Aurora has held talks with at least 3 beverage makers, CEO Booth says

Aurora CEO: We've spoken to at least three beverage companies in the last three months

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Aurora Cannabis Inc. (ACB.TO) has held discussions with at least three beverage companies in the past three months, the company’s chief executive said after BNN Bloomberg reported that the Edmonton-based pot firm is in talks with Coca-Cola Co. (KO.N) to develop cannabis-infused drinks.

“Coca-Cola would be a great partner, I suppose, but we can’t comment on speculation at this time,” Terry Booth said in a television interview with BNN Bloomberg Monday afternoon.

“There’s a number of beverage companies in this space. We’ve spoken to at least three different beverage companies in this space over the last three months.”

BNN Bloomberg first reported Coca-Cola, one of the world’s most iconic consumer brands, is in “serious talks” with Edmonton-based Aurora to develop cannabis-infused beverages. If the deal comes through, it would mark a significant foray into the cannabis sector for the beverage company. Shares of Aurora soared Monday following the report, jumping 16.86 per cent - or $1.44 - to close Monday trading at $9.98.

Booth added that the entry of major beverage companies like Coca-Cola will have a big impact on the burgeoning marijuana sector.

“It was only matter of time that the major beverage companies came in, not only from the alcohol side but also from the Coca-Cola, PepsiCo side of the fence,” Booth said.

“It’s a big impact – it legitimizes what we’re up to. It legitimizes this as big global business.”

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.

 

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