Marijuana Legalization in Canada Could Lift These 3 Stocks Very High

Aurora Cannabis Inc (OTCMKTS:ACBFF)

Aurora Cannabis Inc (OTCMKTS:ACBFF) has made numerous acquisitions and deals in recent months as it rapidly expands its marijuana growing capacity, which is now estimated at close to 600,000 kilograms annually. Aurora has snatched up no less than eight companies over the past year, including CanniMed Therapeutics and MedReleaf. It has a distribution deal in place with leading Canadian pharmacy chain Shoppers Drug Mart, and Aurora Chief Corporate Officer Cam Battley believes the company now has an “insurmountable lead” in the Canadian marijuana market.

As with Canopy Growth Corp (NYSE:CGC), Aurora could also get into marijuana-infused beverages, with Molson Coors Brewing Co (NYSE:TAP) reportedly being in discussions with several Canadian marijuana growers on such a collaboration, including Aurora. Aurora Cannabis Inc (OTCMKTS:ACBFF) is likewise eyeing global expansion opportunities, including in the U.S, and Battley believes that both Aurora and Canopy are poised for success internationally thanks to the Canadian market giving them an important first-mover advantage.

Cronos Group Inc (NASDAQ:CRON)

Cronos Group Inc (NASDAQ:CRON) debuted on the NASDAQ earlier this year and represents another Canadian cannabis company that is rapidly expanding globally, having signed distribution deals in Poland and Germany, and inking joint ventures with companies in Australia, Israel and the United States. Its Israel operations are expected to be capable of achieving 100,000 kilograms of production annually, while Cronos’ overall production is expected to jump by 600% by early next year.

In Australia, Cronos Group Inc (NASDAQ:CRON) is planning to break ground on a 20,000 square foot facility that will initially produce 2,000 kilograms annually. While being focused initially on the Australian and New Zealand medical marijuana markets, Cronos also views its Australian joint venture as providing a valuable call option on the Asian market. Cronos’ sales skyrocketed by 636% last year to $4.1 million, while net income more than doubled to $2.5 million.

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