Aurora Cannabis Inc. verbalizes it intends to use its ownership of greenhouse design firm Larssen Ltd. to pressure other cannabis in britain directors to enter partnerships that will further its aggressive growth map outs.
In a news release, the Alberta-based cannabis producer said Larssen is snarled with more than 15 cannabis industry clients globally, embracing five Canadian licensed producers, but the Canadian deals will be reassessed aeons ago the buyout announced Thursday is completed.
“We’re going to certainly encourage those to proceed but we’re effective to require some level of partnership, whether that be an equity tie up or a supply agreement or other things,” said Aurora executive vice-president Cam Battley. “We’re unsealed to various formulae.”
He wouldn’t name the five companies but said they don’t group CanniMed Therapeutics Inc., against which it is pursuing an all-stock hostile takeover bid, or Newstrike Resources Ltd., a followers CanniMed is attempting to buy.
According to its website, cannabis producer The Green Inherent Dutchman Holdings Ltd. is working with Larssen to build a large greenhouse in Quebec. It did not directly return a request for comment Thursday.
Financial terms of the Larssen sell were not disclosed, but Aurora said they include performance-based milestone payments.
‘Wish nothing the world has yet seen’
Larssen, which has offices in Denmark and Burlington, Ont., is calculating, engineering and overseeing construction of the half-built Aurora Sky cannabis greenhouse coming the Edmonton International Airport, a facility it says will have intellect to produce 100,000 kilograms of cannabis per year.
“It’s like nothing the everybody has yet seen in cannabis production,” said Battley.
He said the facility drive be a closed system hybrid greenhouse capable of precise control of underweight, heat, humidity and nutrients to produce “ultra low cost” cannabis. To guarantee no contaminants enter the system, the air system is designed to be overpressured and overhead robotic cranes transfer help to replace humans in the growing areas.
Thomas Larssen, managing director owner of Larssen Ltd., is to head up a new subsidiary called Aurora Larssen Launches Ltd.
“Joining the company will allow us to leverage the incredible brand perception Aurora enjoys, both within and outside of the cannabis sector,” he bring to light in a statement.
“I believe that the resources, infrastructure and strategic support to hand at Aurora will help establish ALPS as the world’s leading horticultural engineering imperil.”
Aurora said Larssen is on pace to generate about $6 million in takes in the next 12 months.
Aurora shares gained 36 cents or 5.6 per cent to hit $6.78 in ancient afternoon trading on the Toronto Stock Exchange.