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Aurora Cannabis growing storage to prepare for derivatives launch next fall

Cam Battley of Aurora Cannabis is pictured at his companies penthouse office in downtown Vancouver, B.C., Friday, Jan. 27, 2017. Cam Battley, chief corporate officer of Aurora Cannabis, says the business is looking up despite rumours of a slowdown. Aurora Cannabis Inc. is reporting 20 per cent higher revenue and a 33 per cent lower net loss for the first three months of 2019 compared with the last quarter of 2018. THE CANADIAN PRESS/Jonathan Hayward

Aurora Cannabis Inc. is building up inventory to prepare for legalization of edibles and vaping products next fall, but insists that won’t interrupt its sales growth and march to profitability.

The Edmonton-based company says it will grow its production to 25,000 kilograms in the current quarter ended June 30, but an unspecified portion will be held out of the market.

Supply shortages and the slow opening of retail cannabis stores in some parts of Canada have plagued the industry since initial legalization last October.

Ottawa has indicated edibles containing cannabis and cannabis concentrates would become legal for consumers in October, but the exact timing of product approvals and sales is still unknown. 

Chief corporate officer Cam Battley says Aurora is concentrating on developing an initial supply of vape pens, edibles and concentrates to launch when the market opens.

Aurora nearly doubled production to 15,590 kilograms in its most recent quarter as its Aurora Sky facility in Edmonton and Bradford facility in Ontario ramped up to take company-wide capacity to 150,000 kilograms per year.

 

Companies in this story: (TSX:ACB)

The Canadian Press