News recently broke that beverage giant Coca-Cola is in talks to create infused beverages in conjunction with Aurora Cannabis — the third largest licensed producer of marijuana in Canada.
Following that revelation, Aurora (TSE: ACB) has now filed an application to list its common shares on the New York Stock Exchange in addition to its current spot on the Toronto Stock Exchange.
Aurora anticipates that trading in its common shares on the NYSE will commence before the end of October 2018.
“Through our NYSE listing, Aurora joins an established group of mature global brands with improved access and exposure to an engaged international institutional investor audience,” said Terry Booth, CEO of Aurora.
Booth went on to say, “Aurora’s high-paced execution has made it one of the world’s leading cannabis companies. We have grown from being a licensed producer with a single facility, to a horizontality differentiated and vertically integrated global organization with a funded production capacity in excess of 500,000 kg a year, sales and operations on five continents, and a team of more than 1,500 employees.”
According to a MarketWatch report, the company’s announcement was responsible for a broad pull back on stock prices for cannabis companies in the US this week, as Aurora seeks to attract larger US investors by listing on the New York Stock Exchange.
Marijuana-infused drinks are set to become a booming industry following the Cannabis Act taking effect on Oct. 17. A wide range of beverages are in the works featuring Cannabidiol (CBD) – the non-psychoactive element of marijuana – as a primary ingredient. Those drinks range from carbonated fruit-flavoured beverages enhanced with CBD to hemp oil-infused lagers edging into the beer market.
With legalization set to arrive in Canada in just a handful of days, corporations around the world are further eyeing eventual US sales of CBD products.
The rise of the cannabis-infused drink market, and potential cannabis beverage deals with companies like Aurora, may have an impact on legalization attempts in the United States as cash-flush corporations put their weight behind legalization.