The article referenced is very misleading. Makes it sound like Aurora is just now thinking about entering the US Hemp market. They already have! (see below).
Also, through Australis(AUSA) which is Aurora's spin-off of their US assets, they're in the process of acquiring the remainder of Folium Bioscience, which is based in Denver CO.
Aurora Cannabis Completes Hempco Food and Fibre Acquisition Introduces Aurora Hemp: A Global Hemp Leader Focused on CBD and Organic Hemp Food Products EDMONTON, Aug. 19, 2019 /PRNewswire/ - Aurora Cannabis Inc. ("Aurora" or the "Company") (NYSE | TSX: ACB), the Canadian company defining the future of cannabis worldwide, is pleased to announce today the completion of the previously announced plan of arrangement (the "Arrangement") with Hempco Food and Fiber Inc. ("Hempco") (TSX-V: HEMP) pursuant to which Aurora has acquired all of the issued and outstanding common shares of Hempco ("Hempco Shares") not already owned by Aurora, reflecting a valuation of approximately C$63.4 million on a fully diluted basis. Hempco is now a wholly-owned subsidiary of Aurora. The Hempco Shares will be delisted from the TSX Venture Exchange, and Aurora will apply to the relevant securities commissions for Hempco to cease to be a reporting issuer under Canadian securities laws. Hempco provides Aurora with access to low-cost, high-volume raw hemp material for the extraction of primarily cannabidiol ("CBD") and other cannabinoids, which is gaining recognition for potential health benefits across a wide range of applications. Aurora identified the potential of hemp-derived CBD early on, completing its first investment in Hempco in 2017, and has subsequently expanded its hemp-based infrastructure through targeted acquisitions and strategic partnerships, creating Aurora Hemp: an integrated operating unit executing the Company's Global Hemp Strategy. With expertise across genetics, extraction, product development, brands and distribution, Aurora Hemp is an end-to-end offering across the entire hemp value chain: • Hempco, a trusted and respected pioneer, innovator and provider of quality, hemp-based foods, hemp fiber, and hemp nutraceuticals. Brands include PLANET HEMP™ and PRAISE, hemp-based foods and nutritional supplements for people and animals. Hempco is nearing completion of a new, state-of-the-art Nisku facility, a 56,000 square foot, 2.9 million kg per year hemp processing facility. • Agropro, Europe's largest producer of organic hemp and hemp-based food products has extensive experience in sowing seeds, growing, machine harvesting, drying and cleaning biomass in preparation for food processing or extraction into CBD. • Borela, a processor and distributor across the European Union of organic hulled hemp seeds, hemp seed protein, hemp flour, and hemp seed oil. • ICC Labs, a Latin American based producer and distributor of cannabinoid products for recreational and medicinal use with operations in Uruguay and Colombia. ICC has access to high CBD hemp genetics available for export to international jurisdictions. • Anandia Labs, the industry leader in science, genetics, and independent cannabis product testing to provide rigorous product testing and quality assurance, ensuring safe and efficacious consumer products. • Radient Technologies, a provider of industrial-scale manufacturing solutions with a technology platform designed for high extraction and high-volume throughput of cannabinoids available in the plant biomass. • UFC Clinical Research and Product Development, through this partnership Aurora and UFC will research and examine the use of hemp-derived CBD as an effective treatment for pain, inflammation, wound-healing, and recovery on MMA athletes. Research data will then be used to drive the development of a portfolio of science-backed, high-quality, hemp-derived CBD topical treatments, under the new high-performance sports brand ROAR Sports. "Aurora is defining the future of cannabis and hemp, globally," said Terry Booth, CEO of Aurora. "Through the addition of Hempco, we have assembled a world-class portfolio of high-quality hemp assets that together form the basis of a strong new operating division that will develop CBD-from-hemp around the world. Aurora Hemp brings together the cultivars, strategic partners, brands, and distribution networks to service medical, consumer, and wellness markets and further advances Aurora's entry into the US hemp food and hemp-derived CBD markets." Skirmantas Nikštele, CEO of Agropro added, "In addition to our established hemp-based food operations, our proprietary hemp propagation, harvesting, drying, and post-harvest processing technology provides the scale and efficiency required to service the global demand for high-quality, CBD-from-hemp products. With integrated assets across the hemp value chain, Aurora Hemp is uniquely positioned to deliver a diversified suite of products to our customers." https://finance.yahoo.com/news/why-did-aurora-cannabis-acquire-134511278.html
Why Aurora Bought Hempco Hempco is a provider of hemp-based foods, hemp fiber, and hemp nutraceuticals. The company “provides Aurora with access to low-cost, high-volume raw hemp material for the extraction of primarily cannabidiol (CBD) and other cannabinoids, which is gaining recognition for potential health benefits across a wide range of applications,” Aurora said in a statement. Aurora identified the potential of hemp-derived CBD early on, completing its first investment in Hempco in 2017, and has subsequently expanded its hemp-based infrastructure through targeted acquisitions and strategic partnerships. By combing different segments, Aurora created Aurora Hemp, an integrated operating unit focused on the global hemp business. “Through the addition of Hempco, we have assembled a world-class portfolio of high-quality hemp assets that together form the basis of a strong new operating division that will develop CBD-from-hemp around the world,” Aurora CEO Terry Booth stated.
[And here is the key quote…]
“Aurora Hemp brings together the cultivars, strategic partners, brands, and distribution networks to service medical, consumer, and wellness markets and further advances Aurora’s entry into the US hemp food and hemp-derived CBD markets,” Booth added.
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