AURORA CANNABIS IN COM NPV (OTCMKTS:ACBFF) has started selling a new set of ingestible cannabis oils as Canada inches a step closer to legalizing the recreational use of Marijuana. Dubbed Aurora Drops, the three distinct cannabis oils will go on sale for $115 per bottle. However, clients under the company’s compassionate pricing program will be able to buy it at $80 a bottle.
Aurora Unveils Aurora Drops
The launch of the three distinct oils marks yet another milestone for the Canadian company which is turning heads in the multibillion-cannabis space. Chief Global business development officer, Neil Belot, expects Aurora Drops to significantly bolster the company’s top and bottom-line results.
“We have produced a sizeable inventory of Aurora Drops for our domestic medical client base, and will be continuing to ramp up production in order to address the strong demand we anticipate for high-quality, high-margin derivative products, manufactured under the rigorous Aurora Standards regarding processes, testing, and transparency,” said Mr. Belot.
Aurora Peloton Acquisition
The launch of Aurora drops comes on the heels of the company completing the acquisition of Peloton Pharmaceuticals, which is currently constructing a 40,000 square foot cannabis production facility. Once complete the facility will further bolster Aurora cannabis production capacity, allowing it to produce more products to meet the ever-growing demand in the market.
Peloton’s acquisition also provides Aurora with another low-cost production capacity as it continues to ramp up. The acquisition is also expected to bolster the company’s e-commerce strategy according to CEO, Terry Booth.
Canada Marijuana Legalization
The launch of Aurora Drops and acquisition of Peloton could not have come at a better time as the legalization drive continues to gather momentum. Canada could become the second country after Uruguay to legalize recreational use of Marijuana – a move that could result in the creation of an $8 billion industry. The push is already fuelling investment in the industry as companies look to accrue a substantial amount of market share on the back of growing demand for cannabis products.
According to estimates, demand Canada’s adult market could approach 600,000 kg of cannabis. This represents a significant increase from the current levels and one of the reasons why companies are investing big on production facilities. Aurora is currently constructing an 800,000 square foot marijuana production facility dubbed Aurora Sky.
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