On Christmas Eve, Aurora confirmed it asked Chief Corporate Officer Cam Battley to resign as part of the company’s evolving leadership strategy. For many, Battley . Stocks fell as a result of his departure.
Lexichronic, American Stock Trader, Victoria Times-Colonist, MMP Connect
- Battley rose to the CCO role after stints as senior and executive VP for the company, He announced he was joining MedReleaf Australia, a MED company in which Aurora owns 10% stake and holds 50% voting rights. MedReleaf Australia is in partnership with MedReleaf Corp, wholly owned by Aurora.
- Following his severance, Battley tweeted cryptically, “I don’t know enough about General Tso […] but clearly the man knew his chicken. And he apparently outranked Colonel Sanders,” followed by a winking happy-face emoticon. Analysts wondered whether this was a reference to the burgeoning market for cannabis products in China, potentially served through Australia.
Twitter—Cam Battley, Yahoo
- Braydon Sutton, Aurora’s former business development director turned chair of US MSO 1933 Industries, argued Aurora CEO Terry Booth “fired me and hired Cam Battley” […] “because I couldn’t say what Cam would,” though Sutton suggests he was tired of working for Aurora and didn’t want to do the promotional work he was asked to do. “Hype and promotion just wasn’t me. I was too conservative, too introverted and just too real,” he writes.
- Canopy requested permission to expand on-site housing for temporary migrant workers from 72 to 116 beds.
Coca-Cola again quashed rumours it will debut THC or CBD products. “As we have stated many times, we have no plans to enter the CBD market,” the company told Bloomberg.
Of the 52 publicly traded LPs, 25 have six months’ worth of cash on their books, or less.
Though banks in the sector are freezing cannabiz out, TerrAscend increased its oversubscribed USD$24M private placement to USD$30M.
New Cannabis Ventures