Aurora CEO takes jabs at rollouts of recreational pot in Ontario, B.C.
Edmonton-based producer being held back by problems, U.S. conference told
The CEO of Aurora Cannabis says that Ontario and British Columbia “shat the bed” when rolling out their retail models for recreational cannabis, and that the only provinces that “got it right” were Alberta and “perhaps Saskatchewan.”
“I would say Ontario shat the bed the worst,” Terry Booth told a panel session at the Marijuana Business Conference — also known as MJ Biz Con — in Las Vegas on Thursday.
Booth’s comments, at times laced with profanity, were met with a mix of laughter and shock by the audience, who were attending the session titled “Canada: Assessing the First Month of Recreational Sales.”
Canada has struggled to meet demand for recreational weed, with some licensed producers pointing the blame at the distribution methods employed by certain provinces, and provinces saying that they did not receive enough product from producers.
Booth said Edmonton-based Aurora had lived up to its obligations but suggested that problems with the rollout were holding the company back. “We have contractual commitments with the provinces and we have met them . ... we would be ready right now if the government had let us.”
Booth appeared alongside Hamish Sutherland, CEO of cannabis investment firm White Sheep Corp., and Michael Elkin, a consultant with Cannabis Compliance Inc.
The chief executive of Aurora was scheduled to appear for the session at 10:30 a.m. local time but arrived late, and was initially replaced by his chief corporate officer Cam Battley. About 10 minutes into the discussion, Booth appeared, chuckling, as he removed a clip-on microphone from Battley and took his seat on the podium.
When asked what surprised him the most about cannabis legalization in Canada, Booth said it was the eight purses that his wife purchased post-Oct. 17. “We knew it was going to be a shit show,” he said. “The government sold us tax stamps that didn’t have glue and so our Plan B was getting a bunch of people with very wet tongues to start licking these stamps.”
Aurora’s home province, however, was singled out for praise. “Alberta had their shit together,” Booth said.
Booth, who at times appeared mildly irritated with his fellow panellists, dominated the conversation, moderated by Marijuana Business Daily reporter Matt Lamers.
“As a Canadian you’re quite abrasive,” Booth said, in response to a comment from Elkin, who questioned whether Aurora’s priority lay more in supplying medical marijuana to Germany than serving their Canadian patients.
Aurora legally exports medical pot from Canada to Germany.
Later, Booth said that Aurora’s product in Canada was “flying off the shelves,” attributing the sales success to effective marketing.
“We spent a lot of money on branding, we sponsored concerts, events. We can’t do that right now. I’d be off to f--king jail if we brand like that,” Booth said, to laughter and some gasps from the audience.
The Cannabis Act prohibits any form of advertisement and branding that depicts the cannabis plant itself and presents its consumption as a lifestyle.
MJ Biz Con, a conference that boasts to be the biggest cannabis trade show in the world, is in its third year, attracting thousands of participants, ranging from investors, lenders, family offices, and tiny ancillary businesses hoping to secure funding and clients to whom they can sell their ideas and products. Over the past few years, the conference has become dominated by suits and ties, with big name private equity firms.
Booth, however, said he believes that in five years, given how quickly the global pot industry is growing, conferences like this won’t bear as much weight as they do right now.
When asked after the event about Booth’s appearance, Battley downplayed any notion of tension among the panellists. “We are all friends. It’s a cannabis conference. It’s a casual atmosphere,” he said. “We just came off two days of marketing and meeting institutions and just came in last night from New York . ... we are having a lot of fun.”
The Ontario Ministry of Finance did not address Booth’s assessment of the rollout. “The Government is moving forward with a strict private retail model for recreational cannabis by April 1, 2019,” ministry spokesman Robert Gibson wrote in an email. “It will best help us achieve our key goals of protecting our youth and keeping our communities and roads safe, while combating the illegal market.”