Aurora Cannabis Inc. chairman Michael Singer is expecting to leave a “significant footprint” in the U.S. next year.
The man leading the Canadian medical cannabis producer told CNN Business that Aurora finished a “review tour” of America’s multi-state cannabis operators and plans to capitalize on the connections of Nelson Peltz, the company’s new strategic advisor, who is also a billionaire investor.
Aurora also plans to gain momentum through its multi-million-dollar joint research project with the Ultimate Fighting Championship.
Through that, Laura Gallant, an Aurora social media strategist, said the company plans to launch ROAR Sports, a high-performing sports brand. At the moment, that’s all they can do with tight regulations in the U.S.,” Gallant said in a phone interview. “Seeing as there’s no deferral framework, there are certain roadblocks to any cannabis company launching nationwide things,” she told The GrowthOp.
“There are ways to position ourselves to be ready… hemp is a big part of that and we’re predicting CBD is going to be huge,” she said.
Industrial hemp is allowed to be grown south of the border. Industrial hemp is defined as containing less than 0.3 percent THC content.
The research exemption allows for cultivators to grow and possess hemp/cannabis that is over 0.3 percent THC content, “if that cultivation or possession contributes to the development of types of industrial hemp that will comply with the three-tenths of 1 percent THC limit established in this division.”
This provision does not allow the commercial sale of hemp or cannabis that is over this threshold.
“They’re making a step to have an economic presence without legalizing marijuana,” Gallant said of the U.S. “We’re planning to have a full robust presence as soon as we can.”
Aurora will evaluate its earnings for this quarter Thursday evening, a move that will help the company decide what the next step is.
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