(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

Nanaimo-Ladysmith MP seeks secret ballot to save abandoned vessels bill

Nanaimo-Ladysmith MP Sheila Malcolmson is seeking a secret ballot to save her private member’s bill.

B.C. Liberal leadership candidates debate different paths for party

Third debate held Sunday, Nov. 19 at Nanaimo’s Vancouver Island Conference Centre

High winds cancel slew of BC Ferries sailings

Travel to and from Victoria and Vancouver as well as Northern Gulf Islands affected

Ladysmith, Stz’uminus celebrate ‘Salish Wind’ unveiling

Ladysmith and Stz’uminus residents gathered together last Wednesday night to witness the… Continue reading

UPDATE: More searchers out looking for missing senior near Nanaimo

Search and rescue personnel from all over the Island are looking for 73-year-old Faye Hanson

David Cassidy, teen idol and ‘Partridge Family’ star, dies at 67

Cassidy announced earlier this year he had been diagnosed with dementia

Vigil held for woman whose remains were found on Shuswap farm

Family and friends remember Vernon resident Traci Genereaux and along with five other missing women

LETTER: Jumbo Valley is part of Ktunaxa territorial claim

Ktunaxa Nation Council responds to Tom Fletcher column

3,800-plant grow-op busted on First Nation reserve

Three men face charges after RCMP bust a large drug operation on the Soowahlie Reserve near Chilliwack

VIDEO: Government approves funding of $750,000 drug for B.C. woman

Approval comes one day after province announces funding for Soliris on a case-by-case basis

B.C. boy’s social media bid to get levidrome in the Oxford dictionary goes viral

‘It’s been five weeks and has totally blown up today.’

Whistler venues could see 2026 Olympic action

Calgary is looking to cut down on costs

Michael Buble announced as 2018 Juno host in Vancouver

Awards will celebrate Canadian talent in March

Most Read