Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
Cannabis growers in the U.S. are not the only ones whose operations have been endangered by wildfires. Canadian companies Aurora Cannabis (NASDAQ: ACB) and Heritage Cannabis Holding (OTCQX: HERTF) are experiencing the same difficulties in British Columbia.
According to experts, wildfires intensify every year; they're starting sooner in the season and becoming stronger and more frequent. Earlier this year wildfires raged across California, threatening cannabis farms, as well as people and their homes in the affected areas.
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!
This August, a wildfire in White Rock, a city in British Columbia, Canada has been described as “a catastrophic event” by Mark Healey, the incident commander. The BC Wildfire Service explained that low humidity and winds combined with high summer temperatures make ideal settings for the spread of wildfires in this region, imposing real challenges to firefighters.
Aurora Evacuates Outdoor Cannabis Farm
The flames lead to Aurora having to evacuate its outdoor cannabis farm in Westwold, British Columbia, according to a report by Marijuana Business Daily.
Aurora’s outdoor marijuana grow Aurora Valley spread across 200 acres in the Westwold community of British Columbia, around 248 miles northeast of Vancouver. According to Kamploos Fire Centre, there are 86 fires currently blazing in the surrounding region, of
which 40 were designated as “out-of-control.”
Fortunately, Aurora’s employees are unharmed and the evacuation did not affect the company’s operations, company officials told MJBiz Daily.
“Our Valley operation is under an evacuation order, and we are taking the necessary steps to ensure the safety and well-being of our employees, as well as supporting those who have had to evacuate,” wrote a company spokesperson who added that 13 employees at the site, along with their families had to evacuate their homes.
“Everyone is safe and some have been able to return to their homes in the past few days, as the fire has been downgraded,” the spokesperson added. “The safety and well-being of our employees is our top priority, and we have been in touch with them regularly to help support their needs. Our other priority is the protection of the site, which we continue to monitor. We appreciate the tireless efforts of the BC Wildfire Service, who are working around the clock to contain the fires.”
Bitcoin $100,000 in 2024?
Will you miss out? Or will you be in a position to profit? Don’t get stuck on the sidelines. If you want expert crypto education and guidance before this bull run goes any higher—Get Benzinga Crypto For Just $1.
Considering its size, Aurora Valley is a valuable site where the company has been cultivating marijuana since 2019. Last year, Aurora planted 22 acres of cannabis on the site, and this year it almost doubled the number to 40 acres.
“Aurora Valley continues to be an important piece within the company’s cultivation network,” the spokesperson said. “Our recent harvest was very successful and we hope to repeat that success in the future.”
Heritage Evacuates Voyage Cannabis Facility
Heritage’s subsidiary Voyage Cannabis Corp. also had to evacuate its Health Canada regulated cannabis facility in Falkland, British Columbia. The facility was “for four days last week but then able to return,” Heritage’s chair Clint Sharples told MJBiz Daily.
“We were put on evacuation alert (Thursday), so we’re keeping an eye on things,” Sharples added, explaining that the company temporarily transferred some of its production to its Fort Eire, Ontario-based site to reduce any product delivery delays.
Sharples highlighted that the company’s employees at the 15,500 sq. ft. processing facility in Falkland are safe and that the company is “acting with an abundance of caution.”
Price action
Aurora’s shares were trading 2.14% lower at $6.64 per share at the time of this writing late morning on Monday.
Heritage’s shares closed the Friday market session 47% higher at $0.06 per share.
Photo: Courtesy of Megan Lee on Unsplash
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.