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 (ACB) announced a significant cannabis shipment worth nearly C$8 million to Israel, marking one of the largest single cannabis shipments received by the country. This delivery aligns with Aurora's strategy to enhance its international medical cannabis business, focusing on key markets like Israel, where THC recreational markets are on the horizon. The company has a supply agreement with Cantek Global Ltd. to provide a minimum of 4,000 kg of bulk dried flower annually, showcasing Aurora's commitment to expanding its medical cannabis portfolio globally.
Aurora Cannabis has completed a full repayment of its credit facility, totaling approximately $89 million, including interest. This significant move results in expected principal and interest savings of around $25 million over the next year. As of May 31, 2021, the company's pro forma cash position stands at $430 million. CEO Miguel Martin emphasized the importance of a strong balance sheet for business operations and growth. Additionally, Aurora has an at-the-market equity program allowing the issuance of up to US$300 million in common shares to capitalize on strategic opportunities.
Aurora Cannabis Inc. (NASDAQ: ACB) will participate in three investor conferences in June 2021. CEO Miguel Martin and CFO Glen Ibbott will join the Jefferies Virtual Healthcare Conference on June 1-2, hosting virtual one-on-one meetings. Martin will also speak at the Piper Sandler Conference on June 3 at 1:40 p.m. ET and participate in the Cantor Fitzgerald Cannabis Forum on June 14. Aurora, based in Edmonton, Alberta, is known for its innovative cannabis brands and aims to enhance people's lives through quality products.
Aurora Cannabis (NASDAQ: ACB) has launched a new Science & Innovation business group aimed at commercializing patented technology for cannabinoid biosynthesis and plant genetics. This initiative follows collaboration with 22nd Century Group, focusing on optimizing cannabinoid production using their intellectual property. CEO Miguel Martin emphasizes the importance of cannabinoid molecules and the potential for scaling production, particularly for minor cannabinoids. Aurora aims to leverage its advanced research facility in British Columbia to bring innovative products to market.
Aurora Cannabis Inc. has officially transitioned its stock exchange listing from the NYSE to the Nasdaq Global Select Market, effective May 25, 2021. The company's stock will continue to trade under the ticker symbol ACB. This strategic move is part of Aurora's cost efficiency initiatives and aligns the company with other cannabis peers on a growth-oriented exchange. Shareholders will not need to take further action regarding this transition, which will not affect Aurora's primary listing on the Toronto Stock Exchange (TSX).
Aurora Cannabis Inc. (NYSE: ACB) has filed a prospectus supplement for a new at-the-market equity program allowing the issuance of up to $300 million in common shares. This program aims to provide flexibility for potential acquisitions, particularly in the U.S. Aurora's cash position is strong at approximately $525 million as of May 13, 2021, indicating no immediate need to utilize the ATM Program without a beneficial use of proceeds. The program will involve sales through NASDAQ and other marketplaces, not in Canada.
Aurora Cannabis Inc. (NYSE: ACB) has renewed its strategic relationship with Grow Group PLC, signing a two-year market access services agreement for the UK. This partnership, which began in August 2019, aims to enhance patient access to cannabis-based medicines in the UK. Aurora's CEO emphasized the importance of educating healthcare providers and ensuring high-quality medical cannabis is available to meet growing demand. Aurora is committed to serving the European market via its EU GMP facility, Aurora Nordic.
Aurora Cannabis announced its participation in the BMO Capital Markets 16th Annual Farm to Market Virtual Conference, scheduled for May 19 and 20, 2021. The company's CEO, Miguel Martin, and CFO, Glen Ibbott, will hold virtual one-on-one meetings with investors during the conference. Aurora is a leading player in the cannabis industry, with a diverse brand portfolio that serves both medical and consumer markets. Its shares are traded on both the NYSE and TSX under the symbol ACB.
Aurora Cannabis reported Q3 2021 net revenue of $55.2 million, a decrease of 20.8% year-over-year, primarily due to a 53% drop in consumer cannabis sales impacted by COVID-19 challenges. Medical cannabis revenue rose 17% to $36.4 million, supported by international sales growth of 134%. The company plans $60-$80 million in additional annual cost savings, building on previous reductions of $300 million. Aurora retains a robust cash position with approximately $525 million available, enabling investment in organic growth and potential U.S. acquisitions.
Aurora Cannabis Inc. (ACB) will hold a conference call on May 13, 2021, at 5:00 p.m. Eastern Time to discuss its third-quarter fiscal year 2021 results. The financial results will be released after market close on the same day. CEO Miguel Martin and CFO Glen Ibbott will lead the call, which will include a question and answer session. Aurora is recognized as a global leader in the cannabis industry, providing innovative products across medical and consumer markets.
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