Canopy Growth keeps growing while Aurora Cannabis applies to NYSE

Canopy Growth and Aurora Cannabis are continuing on their path to total domination in the world of cannabis.

Health Canada has issued a license amendment for Canopy Growth which will allow the company to start growing cannabis in their BC Tweed Joint Venture greenhouses.

These greenhouses came as a result of a joint venture with Les Serres Vert Cannabis in which 1.1 million sq. ft. of new greenhouse growing space has been added to Canopy’s portfolio.

So far, Canopy Growth established a 5.6 million sq. ft. platform, which is now over 75% licensed.

“Our regulatory team and the teams in Delta and Mirabel have worked hard to bring these large-scale greenhouses online. Credit is due to these teams and the entire organization as we continue the push forward into a transformative year for our business,” said Mark Zekulin, President of Canopy Growth.

He also mentioned that this is a significant upgrade to their capacity, however, more capacity is required before the entire Canopy Growth platform is operational.

Canopy Growth recently had a bit of an issue when the crop in their Aldergrove facility failed due to the lack of regulatory approval.

Canopy Growth completes export to the US

Earlier today the company confirmed that it has “concluded a legal transfer of cannabis products with a research partner in the United States” in a press release.

This also marks the first legal export of medical cannabis to the United States with an export permit issued by the US DEA.

Canopy has developed a strong research program through its subsidiaries, Canopy Health Innovations (CHI) and Spectrum Cannabis.

This export marks only the latest happening in their plan to dominate the domestic market, as well as the US market in the future.

Aurora Cannabis to be listed on NYSE

Officials from Aurora Cannabis announced that they will begin trading in its common shares on the NYSE before the end of October 2018.

Aurora will trade with the ACB ticker on NYSE, just like it has on other stock exchanges so far.

“Through our NYSE listing, Aurora joins an established group of mature global brands with improved access and exposure to an engaged international institutional investor audience,” said Terry Booth, CEO of Aurora.

Aurora will be the 4th licensed producer to be listed on a US stock exchange, after Cronos Group, Canopy Growth, and Tilray.

But the big question is—could we expect Aurora’s stock to skyrocket once they start trading on the NYSE? That was certainly the case with the three previously mentioned companies.

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