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Another Canadian Company Sets Up Portuguese Growing Operation

Portugal’s California-like weather has seen a third Canadian company look to establish a cannabis cultivation footprint in the country. First it was Tilray, then it was Aurora and now The Flowr Corporation is set to grow cannabis in the country. Flowr has announced plans to acquire the remaining 80% stake in Portuguese firm Holigen which […]

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Portugal’s California-like weather has seen a third Canadian company look to establish a cannabis cultivation footprint in the country.

First it was Tilray, then it was Aurora and now The Flowr Corporation is set to grow cannabis in the country. Flowr has announced plans to acquire the remaining 80% stake in Portuguese firm Holigen which has established a huge cannabis operation in Aljustrel, about 100 miles south east of the capital Lisbon.

The 72-hectare site could become one of the largest cannabis facilities in the world. Located in the Alentejo region it will initially produce about 500,000 kilograms of cannabis per year – and could rise to more than 630,000 kilograms.


Cannabis Clones For Export

Flowr also announced that it has received a Health Canada export permit that will allow it to make an initial shipment of clones from its Kelowna Campus to Portugal.  It says the permits will allow the Aljustrel operation to garner its first outdoor harvest later this year. Its CEO Vinay Tolia said the deal is a major milestone and a ‘cornerstone in its efforts to service the global medical cannabis market’.  

“Aljustrel is one of the largest outdoor THC cultivation licenses in the developed world, and will be instrumental in providing large-scale, low-cost cannabis extract for pharmaceutical APIs, as well as oils to service the European medical markets.” 

Ideal Climatic Cannabis Conditions

Flowr, which is based in Toronto, builds and operates large-scale, GMP-designed cultivation facilities and recently announced plans to raise up to C$125 million to finalize the Holigen purchase. One of Portugal’s major attractions for such foreign companies is that it has ideal climatic and cultivation conditions.

It represents an attractive market, with relatively low labor costs and and a recent change in the law allows for the distribution of medical cannabis to other EU nations, where it is legal. Edmonton-based Aurora has signed an agreement to acquire a 51% ownership stake in Gaia Pharma, a Portuguese-based company with plans to produce medical cannabis and derivative products.

Aurora said construction of the first phase of the Gaia facility, capable of producing up to 2,000 kilograms of cannabis a year, was expected to be completed in late 2020.

The post Another Canadian Company Sets Up Portuguese Growing Operation appeared first on CBD Testers.

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Article

Aurora Cannabis Lays Off Workers After Signing New Sales Broker Deal

Aurora Cannabis Inc. says it has laid off some workers after signing an agreement with an external sales broker. The Edmonton-based cannabis company’s spokeswoman Michelle Lefler confirmed the cuts but wouldn’t disclose the number of staff impacted or …

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Aurora Cannabis Inc. says it has laid off some workers after signing an agreement with an external sales broker. The Edmonton-based cannabis company’s spokeswoman Michelle Lefler confirmed the cuts but wouldn’t disclose the number of staff impacted or what cities they were located in. Lefler says the move was prompted by Aurora’s recent decision to hire Great North Distributors Inc. to represent the pot company in sales activities across Canada. – Read the entire article…

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Alberta

Aurora Cannabis Lays Off 30 Staff, ‘Indefinitely’ Pauses Operations At Alberta Facility

Aurora Cannabis Inc. says it is indefinitely pausing operations at one of its Alberta facilities and laying off a few dozen staff. The Edmonton-based cannabis company says the pause will occur at its Aurora Sun property in Medicine Hat, where it will l…

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Aurora Cannabis Inc. says it is indefinitely pausing operations at one of its Alberta facilities and laying off a few dozen staff. The Edmonton-based cannabis company says the pause will occur at its Aurora Sun property in Medicine Hat, where it will layoff about 30 workers. Aurora spokeswoman Michelle Lefler says that the moves are expected to be complete around Dec. 18. – Read the entire article at Global News.

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Article

Billionaire Investor Nelson Peltz Resigns As Aurora Cannabis Advisor

Billionaire activist investor Nelson Peltz has resigned as a senior advisor to Aurora Cannabis Inc. to pursue other commitments, the company announced Monday. Peltz first joined Aurora in March 2019 under a senior advisory services agreement where he w…

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Billionaire activist investor Nelson Peltz has resigned as a senior advisor to Aurora Cannabis Inc. to pursue other commitments, the company announced Monday. Peltz first joined Aurora in March 2019 under a senior advisory services agreement where he was tasked with helping the company devise a strategy to find a way to marry its cannabis business with the U.S. consumer market. Peltz, a founding partner of Trian Fund Management LP, a New York-based hedge fund…

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