Aurora in talks for partnership opportunities, eyes profitability: Chairman

Aurora Cannabis, one of Canada’s biggest pot companies, is in active discussions with multiple companies in various industries – including consumer-packaged goods and beverage companies – and an announcement could happen in the next six months, said Michael Singer, Aurora’s chairman, in an interview with BNN Bloomberg. While other major Canadian cannabis companies such as Canopy Growth and Cronos Group Inc. have all announced tie-ups with a range of blue-chip firms, Aurora stands out as a Canadian pot producer without a significant partnership deal. That’s become a growing focus for the company especially in light of hiring billionaire Nelson Peltz as a strategic advisor, Singer said. He added Aurora is primed to become profitable this quarter, which could open the door for the company to possibly issue a traditional bond or buy back some of its outstanding shares. 

Aurora, Aphria formally announce German medical cannabis cultivation licences  

The next frontier of global medical cannabis appears to be Germany after Aurora Cannabis and Aphria announced they were among the three companies selected by the German government to cultivate and distribute medical pot in the European country. The companies are subject to a 10-day waiting period where unsuccessful bidders could submit a challenge to the bidding process. However, as noted in Thursday’s Cannabis Canada newsletter, both companies are primed to supply the German medical cannabis market, which is the largest in Europe. Both cannabis companies say the provisional decision awarded them each the maximum number of five of the 13 available lots in the tender, over a period of four years.

Fire & Flower expand operations to second Ontario pot shop location

Fire & Flower, one of the biggest cannabis retailers in Canada, announced it plans to open its second branded store in Ontario in Kingston, the company said in a release. The Kingston store is the 11th Fire & Flower branded store in Canada since the legalization of adult-use cannabis in Canada. It joins stores already opened and operating in Alberta, Saskatchewan and Ottawa, Ontario. The retailer was able to open the store after entering an agreement with Ontario license holder, Brandon Long, who won one of 25 licences awarded by the province through a lottery system earlier this year.

DAILY BUZZ

$6.94
- The price of a gram of cannabis in Canada, essential flat from last week’s spot price of $6.96, according to the Cannabis Benchmark’s Cannabis Spot Index. The price range has been relatively steady over the past six weeks, with only a 0.18 difference between the low and high extremes observed in that span. This equates to US$2,359 per pound at current exchange rates.

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.