Aurora Cannabis Inc. Common Shares - ACB STOCK NEWS

Aurora Cannabis Inc. (NASDAQ: ACB) has announced a conference call scheduled for February 10, 2022, at 5:00 p.m. ET to discuss its second quarter fiscal year 2022 results, which will be published that same day after market close. The call will be hosted by CEO Miguel Martin and CFO Glen Ibbott, who will address inquiries from investors through a designated weblink. Aurora is a leading global cannabis company committed to providing high-quality products across medical and consumer markets, with a strong brand portfolio.

Aurora Cannabis (ACB) has announced the delivery of a C$10 million shipment of medical cannabis to Israel, marking its largest ever export to the country. This shipment, delivered in December, will be recognized as revenue in Aurora's FY22 Q2 period. The company continues to expand its international presence, solidifying its position as a leading Canadian licensed producer by revenue. Aurora is also engaged in a joint venture in The Netherlands for a Controlled Cannabis Supply Chain Experiment, reflecting its commitment to growth in international markets.

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 US$31.24 million, marking its largest acquisition to date. This strategic move is expected to increase High Tide's annual run-rate international revenue from approximately CAD$10.6 million in 2020 to CAD$80 million. NuLeaf, a leader in cannabinoid wellness products, achieved significant revenue and EBITDA margins, generating US$19.4 million in revenue and US$5.26 million in adjusted EBITDA in the past year. High Tide aims to leverage NuLeaf’s capabilities for THC-infused products.

High Tide Inc. has announced a definitive agreement to acquire 80% of NuLeaf Naturals for US$31.24 Million, enhancing its CBD market presence. This acquisition will boost High Tide's U.S. revenue run rate by approximately C$70 Million, leading to a pro forma annual revenue run rate of C$80 Million outside Canada. NuLeaf's revenue for the past year was US$19.4 Million, with a gross margin of 71%. The acquisition aims to leverage manufacturing synergies and expand product offerings across various platforms.

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.