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) has successfully repurchased approximately $46.6 million of its convertible senior notes for $45.6 million in cash, saving $2.6 million in annual interest payments. This repurchase, executed at a 2.5% discount to par value, is part of Aurora's strategy to enhance financial discipline and reduce debt. Since December 2021, the company has repurchased a total of $366 million in notes, leading to annual savings of $20 million. Aurora's balance sheet remains among the strongest in the Canadian cannabis sector, with a focus on profitable growth in medical and adult-use markets.
Aurora Cannabis Inc. (NASDAQ: ACB) received a notification letter from Nasdaq on March 24, 2023, indicating non-compliance with the Minimum Bid Price Requirement due to its share price closing below US$1.00 for 30 consecutive business days (from February 8 to March 23, 2023). The Company has until September 20, 2023, to regain compliance. If the share price closes at or above US$1.00 for ten consecutive business days, Nasdaq will notify that compliance has been achieved. This notification does not affect daily trading or listings on the Toronto Stock Exchange, and Aurora plans to monitor its share price to resolve this deficiency.
Aurora Cannabis Inc. (NASDAQ: ACB) announced the filing of a new preliminary short form base shelf prospectus with Canadian securities regulators, excluding Quebec, on March 17, 2023. This Base Shelf Prospectus aims to replace the existing one and will qualify the issuance of up to U.S. $650 million in various securities over a 25-month period. Approximately U.S. $412 million is allocated for the potential exercise of outstanding warrants, leaving about U.S. $238 million for new issuances. The release emphasizes that this announcement does not constitute an offer of securities for sale.
Aurora Cannabis Inc. (NASDAQ: ACB) has launched a new cannabis cultivar, Valour, specifically designed for veterans. This product, marketed under the MedReleaf brand, features genetics from Chemdawg, OG18, and Skunk, with THC levels ranging from 20-26%. Five percent of Valour's net profits will support veteran organizations across Canada, with a cap of $200,000 per year. Valour aims to meet veterans' needs by embodying their preferred traits in aroma and flavor. The initiative highlights Aurora's commitment to the veteran community and aims to foster significant contributions to organizations providing essential support to veterans.
Aurora Cannabis Inc. (NASDAQ: ACB, TSX: ACB) and MedReleaf Australia have launched CraftPlant, a new medical cannabis brand for Australian patients. This brand features three THC-dominant strains—Greendae, Navana, and HiVolt—developed from premium cultivars by Aurora's science division, Occo. The products are produced under strict EU-GMP guidelines and are available in 10g containers. Aurora holds a 10% stake in MedReleaf Australia and aims to enhance its presence in the promising Australian market. The partnership increases the total MedReleaf products available for Australian doctors to 27, offering diverse treatment solutions.
Aurora Cannabis (ACB) reported a Q2 2023 net revenue of $61.7 million, a 25% increase from Q1 2023, driven by growth across all cannabis segments and a full contribution from Bevo Agtech Inc. Additionally, the company achieved a positive Adjusted EBITDA of $1.4 million, marking a significant turnaround from previous losses. Aurora has realized approximately $340 million in annual cost savings since early 2020 and reduced debt by $302 million in 2022. Despite a net loss of $67.2 million, the company maintains a net cash position, with approximately $310 million in cash as of February 2023.
Aurora Cannabis Inc. (ACB) announced a conference call to discuss its second quarter financial results for fiscal year 2023, scheduled for February 9, 2023, at 5:00 p.m. ET. The financial results will be released after the market closes the same day. CEO Miguel Martin and CFO Glen Ibbott will host the call, which will also include a Q&A session. Investors can access the webcast through the company's investor info page. Aurora continues to serve both medical and consumer markets with a strong brand portfolio, emphasizing its commitment to high-quality cannabis products.
Aurora Cannabis closed the sale of its Aurora Polaris facility, generating approximately $15 million in gross proceeds. This sale is part of the company's ongoing transformation strategy. Following this transaction, Aurora maintains a strong balance sheet with about $320 million in cash and cash equivalents, including $63 million of restricted cash. The company expects to achieve Adjusted EBITDA profitability for the quarter ending December 31, 2022, further solidifying its position in the cannabis industry as a leader in both medical and consumer markets.
Aurora Cannabis (ACB) announced the repurchase of approximately $102.5 million of its convertible senior notes for $99.4 million in cash, achieving a 4.5% discount. This marks a total repurchase of $316.5 million over the past year, leading to annual cash interest savings of $17.4 million. The company reports a strong balance sheet and aims to achieve Adjusted EBITDA profitability by December 31, 2022.
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