The Canadian cannabis market continues to be red hot. Marijuana stock companies like GrowGeneration Corp. (OTCQX:GRWG), Canopy Growth Corporation (TSX:WEED), and Aurora Cannabis Inc.(TSX:ACB) (OTCQB:ACBFF) continue to make moves in the market both on the international and national cannabis scenes.
GrowGeneration Corp., a specialty retail hydroponic and organic gardening company, announced that it has purchased “all the assets of Superior Growers Supply” and “will add $4 Million to our top line revenue to our consolidated financial statements” according to The Marijuana Index. Superior Growers Supply is a Michigan based company started in the early 1980’s “as a mail order business operating out of a small barn.” The company has grown tremendously since its early days and is now “one of the leading retail hydroponic and indoor gardening supply merchants in the USA per The Marijuana Index report.
The deal will expand GrowGen’s presence in Michigan which has the second largest patient count for medical marijuana patients and is projected to go recreational with the upcoming November vote.
Canopy Growth Corporation announced that it too plans to acquire an international cannabis company. Annabis Medical is considered “the leader in the Czech Republic's medical cannabis industry and currently imports and distributes cannabis products pursuant to federal Czech licenses of Czech Republic” according to The Marijuana Index.
Annabis Medical Founder and CEO Dr. Robin Kazík sees the benefits of the deal. In The Marijuana Index report he stated, "[w]ith a strong footprint and established distribution network in the Czech medical cannabis market, as well as a history of importing Canadian cannabis, we are excited to join the Canopy Growth family. This move will allow us to more rapidly diversify our product offering and strengthen our access to supply as we scale in the market," has a “history of importing Canadian cannabis.”
After agreeing to a $1.1 billion deal back in January to acquire the issued and outstanding shares of CanniMed Therapeutics Inc. (TSX:CMED), Aurora Cannabis Inc. announced that it has decided to “exercised its right under the compulsory acquisition provisions in Section 206 of the Canada Business Corporations Act” …. to acquire all of the outstanding common shares… that it did not acquire under its recently completed offer” according to Business Insider.
CanniMed shareholders must hold an election by April 30, 2018 “to receive the same consideration as that provided pursuant to the Offer, consisting of either 3.40 common shares of Aurora or $43.00 in cash, subject to pro-ration, per CanniMed Share, or any combination of Aurora Shares and cash based on a maximum of $43.00 in cash per CanniMed Share, with the cash being subject to the same pro-ration as the Cash Alternative” per the Business Insider Report.