Aurora Cannabis Inc. Common Shares - ACB STOCK NEWS

Aurora Cannabis has unveiled a new genetics licensing business unit called Occo, aimed at advancing cannabis cultivation and commercialization. Led by Casey Whelan, VP of Genetics Business Development, Occo will utilize Aurora's state-of-the-art facility in Comox, British Columbia. Occo boasts the largest catalogue of high-quality cannabis genetics in Canada, with over 30 exclusive cultivars ready for licensing. The initiative is expected to enhance scientific understanding and product quality in the cannabis market, benefiting both growers and consumers.

Aurora Cannabis announced the results of its Annual General Meeting held on November 12, 2021, with 60,616,648 shares represented, accounting for 30.6% of its outstanding shares. All proposals, including the election of directors and the appointment of KPMG LLP as auditors, received majority approval. Key director votes showed strong support, with Miguel Martin receiving 92.71% approval. Additionally, shareholders endorsed a non-binding advisory on executive compensation and renewed the shareholder rights plan. Complete voting results will be filed on SEDAR.

Aurora Cannabis reported its Q1 fiscal 2022 results, with total cannabis net revenue reaching $60.1 million, a 10% increase from the previous quarter. Medical cannabis revenue rose 23% year-over-year to $41.0 million. The company achieved $33 million in annualized cost savings, aiming for a total of $60 to $80 million. Adjusted EBITDA loss improved to $12.1 million, down from $19.7 million in Q4 2021. The adjusted gross margin before fair value adjustments improved to 54%. Aurora maintains a strong cash position of approximately $424.3 million.

Aurora Cannabis Inc. (NASDAQ: ACB) announced plans to invest in Growery B.V., a Dutch company involved in the Controlled Cannabis Supply Chain Experiment (CCSC). This investment marks a critical step in Aurora's strategy to enter the Netherlands' expected largest federally regulated recreational cannabis market outside Canada. The deal includes a secured loan for facility construction, with revenues consolidated under IFRS. Anticipated demand during the CCSC is around 30,000 kg annually, potentially rising to 200,000 kg if national expansion occurs.

Aurora Cannabis (ACB) announced a new manufacturing agreement with The Valens Company to produce seasonal cannabis products, starting with Canna Cane Mints, flavored peppermint candies infused with 10mg THC (5mg per piece). Set to launch under the Drift Turbo brand, these seasonal offerings aim to meet increasing consumer demand for variety. Additionally, a Cranberry Sauce vape cartridge will also be released in select Canadian markets. The partnership is expected to enhance product innovation while capitalizing on both companies' manufacturing strengths for the upcoming holiday season.

Aurora Cannabis Inc. (ACB) announced a conference call on November 9, 2021, at 5:00 p.m. ET to discuss its first-quarter fiscal results for 2022, which will be reported after market close the same day. This call will be hosted by CEO Miguel Martin and CFO Glen Ibbott. Investors can submit questions in advance. Aurora, a leader in the cannabis industry with a diverse product portfolio, continues to focus on growth and innovation in both medical and consumer markets. The company operates under the ticker symbol ACB on TSX and NASDAQ.

High Tide Inc. has transitioned all Canna Cabana retail cannabis stores to a discount club model, enhancing its presence in the value segment and claiming the title of North America's largest cannabis discount retailer. The Cabana Club loyalty program offers exclusive low prices and benefits to over 245,000 members. This strategy aims to capture market share from the illicit cannabis sector, which accounts for 40% of sales, and reflects a successful pilot program that showed significant sales increases. High Tide plans to expand this model across Canada and potentially globally, leveraging its in-house brands.

High Tide has finalized its acquisition of an 80% stake in Blessed CBD for £9,064,000, enhancing its global e-commerce footprint. This marks High Tide's fifth e-commerce acquisition in 2021, increasing its e-commerce revenue run-rate from approximately $10.6 million to nearly $60 million. Blessed CBD, a leading CBD brand in the U.K. with significant site traffic, reported £5.1 million in revenue and £2.8 million in EBITDA for the year ending August 2021. The deal also includes options for High Tide to acquire the remaining 20% of Blessed CBD in three years.

High Tide Inc. has announced a definitive agreement to acquire 80% of Enigmaa Ltd., operating as Blessed CBD, for £9.06 million. Blessed is a leading UK CBD brand, known for its direct-to-consumer model with £5.1 million in revenue and strong gross margins of 81%. This acquisition aims to enhance High Tide's UK e-commerce presence and capitalize on cross-selling opportunities. The deal is expected to close in October 2021, with an option for High Tide to acquire the remaining 20% in three years, positioning the company for further growth in the EU CBD market.