Today marks the official one-year anniversary of the Cannabis Act legalizing adult recreational usage across Canada, and licensed producers such as Aurora Cannabis Inc. (NYSE: ACB; TSX: ACB) are busy gearing up for new product launches to mark the occasion.
Following an extremely disappointing first year with revenue projections consistently missed while black market suppliers undercut pricing from legal competition, investors are hoping the impending launch of edibles, vapes, and beverages will turn the industry around.
To support the impending product launches, three separate Aurora facilities have now been transformed into production hubs, including Aurora Sky in Leduc, Aurora River in Bradford, and Aurora Vie in Pointe Claire.
Those facilities will produce and distribute new products like shatter, sugar wax, live rosin, 510 thread vape cartridges, gummies, chocolates, and mints.
The latter three categories will see Aurora teaming with a variety of award-winning confectioneries such as JACEK Chocolate Couture and Touché Bakery to produce caramel filled chocolates and brownie squares infused with cannabis.
Remarking on the impending release of those new offerings in December, Chief Executive Officer Terry Booth commented:
While edibles, infused beverages, concentrates, and vapes are still awaiting final federal approval to hit shelves, Aurora has already released a new product type to the market this month.
Last week the company teamed up with CTT Pharmaceutical Holdings, Inc. (OTCMKTS: CTTH) to release the Dissolve Strips brand of sublingual cannabis wafers.
New product types aren’t the only weapon in the legalized cannabis industry’s arsenal while fighting a thriving black market. Yesterday, rival licensed producer HEXO Corp. fired the first shot in a price war by releasing the Original Stash value brand priced at $4.49 per gram.
Other producers are expected to follow HEXO’s lead in the coming months and release their own lower priced brands to compete with unlicensed sale prices.