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Yesterday, Canadian licensed marijuana producer Aurora Cannabis Inc. (ACB.TO) (ACBFF) signed a definitive agreement for the acquisition of Larssen Ltd.
After making this announcement, Aurora said that any Canadian marijuana deal that Larrsen is involved with will be vetted by Aurora’s management team. Any Canadian project deemed not to be in the best interest of Aurora shareholders will be cancelled.
Not everyone has responded to this development with joy…
Canopy Growth to Support Growers Impacted by Larssen
Today, Canopy Growth (WEED.TO) (TWMJF) said, “following the recent announcement that the new management of Larssen intends to disrupt Larssen’s existing projects with Canadian cannabis companies that are deemed to not be in the singular best interest of the new management, Canopy Growth wishes to confirm that it has no current or intended work with Larssen.”
In fact, Canopy Growth plans to compete with Larrsen and support any grower impacted by the new management team. With approximately 2.3 million square feet of greenhouse currently under operation or expansion, Canopy is very knowedgable on building production facilities to meet Health Canada standards.
Going forward, Canopy will offer assistance to any of the impacted cannabis companies so that the sector can continue to grow to meet the needs of Canadians at this critical juncture in the path towards the end of prohibition.
A Battle to Watch
After Aurora Cannabis made a bid to acquire CanniMed Therapeutics (CMED.TO) (CMMDF), the company is in position to be the largest marijuana producer in the world. Aurora has been executing flawlessly and the company is clearly gunning for first place.
Canopy Growth is not going to lay down and give up so easily. We are favorable on the way the company is handling the situation and believe they will attract a lot of new business. Canopy is one of the best known cannabis companies in the world and we think this was a very smart decision by the company.
