Welcome to our dedicated page for Aurora Cannabis Common Shares news (Ticker: ACB), a resource for investors and traders seeking the latest updates and insights on Aurora Cannabis Common Shares stock.
Aurora Cannabis Inc. (NASDAQ: ACB, TSX: ACB) is a prominent Canadian company headquartered in Edmonton, Alberta, dedicated to the cultivation, production, and sale of high-quality cannabis for both medical and recreational use. The company's state-of-the-art facilities in Alberta embody advanced cultivation techniques that ensure the highest standards of quality, reliability, and safety in their products. Aurora's comprehensive portfolio includes renowned brands like Drift, San Rafael '71, Daily Special, Whistler, Being, and Greybeard, catering to a wide range of consumer preferences.
Aurora's operations extend beyond Canada, with significant international presence through medical cannabis exporting agreements. A notable subsidiary, Australis Capital Inc., plays a crucial role in participating in the U.S. cannabis market. The company's commitment to quality is further highlighted by its EU-GMP and TGA-GMP certified production facilities, ensuring compliance with rigorous international standards.
In recent developments, Aurora has launched three new cannabis-infused beverages targeted initially at veteran patients. These products, featuring innovative SōRSE® emulsion technology, offer an alternative form of cannabis consumption without the strong cannabis aroma or taste. Available in flavors like Neon Rush, Strawberry Pineapple Tropical Fizz, and Pineapple Coconut Fizz, these beverages are designed to enhance patient wellbeing with a refreshing and potent experience.
Financially, Aurora has achieved significant milestones, including the repayment of nearly $465 million in convertible debt and forecasting positive free cash flow for calendar 2024. The company has also strengthened its global footprint by acquiring MedReleaf Australia's majority equity, further solidifying its position in the Australian market. Aurora’s commitment to financial discipline and strategic expansions underscores its potential for sustainable growth.
Aurora's dedication to innovation and patient care is exemplified through its continuous development of new products and partnerships. Their recent launches include resin cartridges and pastilles in Australia, expanding their product range and enhancing patient access to premium medical cannabis. Additionally, the company's strategic moves in Europe, particularly in Germany, position it as a leader in the evolving cannabis landscape.
With a robust pipeline of products and strategic market expansions, Aurora Cannabis Inc. continues to pave the way for significant advancements in the global cannabis industry, committed to improving lives through high-quality, innovative cannabis products.
Aurora Cannabis Inc. (NASDAQ: ACB) has appointed Chitwant Kohli to its Board of Directors, expanding the Board to nine members, seven of whom are independent. Kohli, a senior financial executive with extensive experience in finance and operations from his tenure at Royal Bank of Canada, is expected to contribute significantly to Aurora's business transformation plan. Additionally, Theresa Firestone will take on the role of Committee Chair for the Human Resources and Compensation Committee effective immediately.
Aurora Cannabis (ACB) and 22nd Century Group (XXII) announced a licensing agreement with Cronos Group (CRON) to advance cannabinoid biosynthesis research. This non-exclusive deal aims to enhance the production of rare cannabinoids such as CBG, CBC, and CBN efficiently and with high purity. According to CEO Miguel Martin, the collaboration is a significant step towards commercializing cannabinoid products, which could benefit health and wellness applications. Aurora and 22nd Century also plan to enforce their intellectual property rights against infringements.
High Tide has completed its acquisition of an 80% interest in NuLeaf Naturals for
High Tide Inc. has announced a definitive agreement to acquire 80% of NuLeaf Naturals for
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.
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