Aurora Cannabis (TSX: ACB) (OTCQX: ACBFF), the Vancouver-based producer of medical cannabis to the Canadian market, today announced it purchased two leading companies serving the indoor growing market to expand its product line and value: BC Northern Lights, and Urban Cultivator.
BD Northern Lights, founded in 2001, is a leading provider of proprietary indoor hydroponic systems, including grow boxes, lights, carbon filters, nutrients and 7 day a week customer service. These enable home growers to cultivate high-yield cannabis with safe, efficient, discreet, odorless operations. They have sold over 10,000 units.
Urban Cultivators, established in 2010, is a leading producer of indoor hydroponic systems for vegetables and microgreens for both the home and professional kitchen markets.
The two companies currently generate over $5 million in revenue per year. By joining the Aurora family of companies, these businesses will reach a larger market. They will also help Aurora reach its goal of offering a complete line of products for the home grower market, in addition to its larger market of cannabis end-product buyers.
Aurora is building geographically dispersed production facilities across Canada to efficiently serve the entire market. It currently operates a 55,000 sq ft facility in Alberta. It is building an 800,000 sq ft facility near Edmonton airport and is also building a 40,000 sq ft facility in Montreal.
Aurora’s stock was up 2.37% to close at C$2.16 on the news. It has a market cap of $526 million and has traded between $1.920 – $2.690 over the last year.
Source: Aurora Canopy press release