Aurora Cannabis Inc (ACB)

[Rule_62]

Excerpt from "Quick Facts" about Bill C-45

The follow excerpt is taken from a document that was published online yesterday, before Royal Assent was granted. For those who are interested, here is the link to the entire document:

https://www.canada.ca/en/health-canada/news/2018/06/bill-c-45-the-cannabis-act-passed-in-senate.html

Of note is the following point:

Once the legislation receives Royal Assent, provinces and territories will be able to purchase cannabis from federally licensed producers, so that distributors and retailers can begin preparing retail access online or in physical stores; however, they will not be able to sell cannabis products to adults of legal age until the Cannabis Act comes into force.

This is an important point. Purchases made by distributors and retailers in advance of October 17th will be reflected in quarterly reporting. While there is little time left for Q2 purchases, Q3 should reflect significant sales made in advance of initial sales. While no one wants to pay carrying costs over a long period of time, Provincial distribution boards and retail vendors will likely not wait until the final couple weeks to obtain their entire inventories.