Aurora Cannabis buying Whistler Medical Marijuana in deal worth up to $175M

WATCH ABOVE: A new industry opened its doors in October 2018 and a facility in Edmonton's backyard could be a big legal cannabis supplier. Vinesh Pratap got a look inside Aurora Sky.

Aurora Cannabis Inc. has signed a deal to buy Whistler Medical Marijuana Corp. in an all-stock deal worth up to $175 million, including certain milestone payments.

Edmonton-based Aurora says the acquisition of the privately held company is expected to provide it with a suite of premium and organic certified products.

Whistler operates two indoor licensed production facilities, include one in Whistler, B.C., and another a short drive from the resort town.

READ MORE: Aurora Cannabis to acquire Mexican company following partnership deal

Once the second location reaches full capacity, the facilities are expected to have a combined production capacity of over 5,000 kilograms per year.

The deal is subject to customary closing conditions, as well as third party and regulatory approvals.

Shares in Aurora closed at $8.47 on the Toronto Stock Exchange on Friday.

READ MORE: Aurora Cannabis ramping up production but recreational pot shortages will likely linger

© 2019 The Canadian Press

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