Aurora Cannabis Inc. has a deal in place to buy Whistler Medical Marijuana Corp. in an all-share arrangement worth up to $175 million.
Aurora, which is registered in Vancouver and headquartered in Edmonton, says the deal helps to diversify the company’s product line in a lucrative market segment.
"This transaction adds an iconic, organic certified B.C.-based brand with exceptional traction and a significant price premium in both the medical and retail markets," stated Aurora CEO Terry Booth in a news release.
Whistler Medical is one of Canada’s first licensed producers. The company is privately held and operates two indoor facilities in and near Whistler. When its second location reaches full capacity, Whistler Medical’s overall production capacity is expected to top 5,000 kilograms a year.
Christopher Pelz, the founder and CEO of Whistler Medical, said Aurora’s national and international footprint will help the company enhance its growth and margin profile.