(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

Terrace RCMP arrest Kitimat man for drug trafficking

A police investigation has led to the arrest of a Kitimat man… Continue reading

Terrace Fire Department announces new training program, increased calls in year-end report

All firefighters in Terrace are expected to complete training by the end of April 2018.

UPDATE: Prince Rupert woman killed in logging truck collision

Empty logging truck west of Terrace struck moose before colliding with the eastbound SUV

David Edwardsen sentenced to eight years in jail

Sentencing result of 14 drug and firearms convictions

Taking a virtual walk across Canada

The Kermode Friendship Society challenged their staff to participate in this year’s competition, which aims to promote physical activity, networking, and friendly competition.

How to keep local news visible in your Facebook feed

Facebook has changed the news feed to emphasize personal connections. You might see less news.

#Metoo movement causing confusion in many men, fear of missteps with women: experts

Being painted by the same sweeping brush as those alleged to have mistreated women has angered men

Liberals to dig deeper, aim higher on gender equality in 2018 federal budget

Finance Minister Bill Morneau said the budget would include measures to boost women in the workforce

Body of missing skier found

Man’s truck found in Revelstoke Mountain Resort’s parking lot covered in ‘several days’ snow’

Thrilling finish to 59th All Native Tournament

Kitamaat, Hydaburg, Port Simpson and Kitkatla win championships in 2018 All Native Tournament

B.C. VIEWS: Subsidy supercluster settles in B.C.

Ottawa, Victoria add to their overlapping ‘innovation’ budgets

OLYMPIC ROUNDUP: Canada’s first ever men’s ski slopestyle medal

Men’s hockey team beats South Korea and women’s curling reverses losing streak

Most Read