(Photo: Max Pixel)

Weed need may not be met

Cannabis executive says producers unlikely to meet demands of consumer market

An official with a large Canadian producer of medical cannabis is confident consumers will be adequately supplied come next July, but says production will need to be increased.

“Right now, the existing capacity and what is already envisioned will not be sufficient to meet the needs of the adult consumer market,” Cam Battley, executive vice-president of Aurora Cannabis Inc., said in an interview Monday.

He has urged other companies to ramp up their production ahead of next July 1, when recreational marijuana is expected to be legalized.

“We need to expand our capacity right away simply to meet the demands of the rapidly growing medical cannabis system,” Battley said. “When the demand of the adult consumer system is layered on top of that, it’s a rush to build as much capacity as possible.”

Battley made the comments on the same day that Aurora (TSX:ACB) began trading common shares on the Toronto Stock Exchange.

Alberta-based Aurora, one of several producers now listed on the TSX, is building what it describes as the world’s largest cannabis production facility at Edmonton International Airport.

Battley said Canada has a well-developed and successful medical cannabis system.

“This is a coming of age, not just for Aurora, but for the cannabis sector and what we’re seeing now is that Canada has established itself as the world leader in a brand new emerging industry that we are literally inventing in real time,” he said.

Battley added that officials from around the world have been coming to his facility in Alberta to visit and to learn how Canada has been so successful both on the medical side and on the consumer side.

“There’s something very big happening and it’s a global movement and it is being led out of Canada.”

Jordan Sinclair, director of communications for Canopy Growth Corp. (TSX:WEED), another major medical cannabis producer, agrees.

“There’s no doubt that we already are …that Canada is the global leader in cannabis on the medical side certainly,” he said.

“The demand doesn’t seem to be slowing down on the medical side of things and then with recreation, obviously that’s a massive market opportunity.”

Sinclair pointed out that Canopy, whose headquarters are in a former Hershey chocolate factory in Smiths Falls, southwest of Ottawa, was first listed on the big board of the TSX in July 2016.

“We’re very proud to have done that before anyone else in the country,” he added. “It does seem like now the pace is speeding up with other companies following in our footsteps (and) it signals that there is credibility across the sector.”

On its website, Health Canada says there are 52 authorized licensed producers of cannabis for medical purposes.

Ontario has issued 29 licences, followed by British Columbia with 12.

Peter Rakobowchuk, The Canadian Press

Just Posted

Lemon Creek fuel truck driver gets $20,000 fine

Danny LaSante was sentenced in Nelson court today

B.C. BUDGET: Surplus $374 million after bailouts of BC Hydro, ICBC

Growth projected stronger in 2020, Finance Minister Carole James says

Actsafe BC brings expertise, new lighting to Trail theatre

Consultants are all technical directors in Vancouver theatres with years of experience in the field

Hospital improvements good news for entire region, says Trail mayor

West Kootenay-Boundary Regional Hospital District Board will review the matter next month

Life insurance can be a business expense

Tax Tips & Pits with Ron Clarke, Trail Times columnist

VIDEO: 8 things you need to know about the 2019 B.C. budget

Surplus of $247 million with spending on children, affordability and infrastructure

‘Bullet missed me by an inch’: Man recounts friend’s killing at Kamloops hotel

Penticton man witnessed Summerland resident Rex Gill’s murder in Kamloops

B.C. BUDGET: Income assistance raise still leaves many below poverty line

$50 per month increase included in funding for poverty and homelessness reduction

B.C. BUDGET: Indigenous communities promised billions from gambling

Extended family caregiver pay up 75 per cent to keep kids with relatives

B.C. BUDGET: New benefit increases family tax credits up to 96 per cent

BC Child Opportunity Benefit part of province’s efforts to reduce child poverty

B.C. BUDGET: Carbon tax boosts low-income credits, electric vehicle subsidies

Homeowners can get up to $14,000 for heating, insulation upgrades

B.C. man survives heart attack thanks to Facebook

A Princeton man suffered a heart attack while at an isolated property with no cell service

B.C. man sues Maxime Bernier’s People’s Party over trademark

Satinder Dhillon filed application for trademark same day Maxime Bernier announced the new party

New trial ordered over banning whales, dolphins at Vancouver aquarium

Park board’s appeal reverses previous decision that found it had no right to implement a ban

Most Read