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. (ACB) announced the results of its Annual General and Special Meeting held on November 14, 2022. A total of 92,937,078 shares, or 30.93% of issued shares, were represented. All proposed matters were approved, including the election of directors with high approval rates: Miguel Martin received 92.56% support, and Norma Beauchamp 83.50%. Shareholders also approved KPMG as auditors and amendments to several compensation plans. The voting results report is available on SEDAR.
Aurora Cannabis Inc. (NASDAQ: ACB) will discuss its Q1 fiscal year 2023 results on November 10, 2022, at 5:00 p.m. ET. The Company will announce its financial results after market close on the same day. Aurora continues to carve a niche in the cannabis industry, emphasizing quality and innovation in both medical and consumer markets. The conference call will feature CEO Miguel Martin and CFO Glen Ibbott, providing insights into the Company's financial performance and future outlook.
Aurora Cannabis (NASDAQ: ACB, TSX: ACB) has filed its management information circular in preparation for its annual and special meeting of shareholders on November 14, 2022. The materials, now being mailed to shareholders, outline the business to be discussed, voting instructions, and participation details. Key items for voting include the election of nine directors, the appointment of KPMG LLP as auditors, and amendments to the stock option plan. The Board recommends voting in favor of all proposals.
Aurora Cannabis (NASDAQ: ACB) announced a major fall product launch, expanding its portfolio across adult-use and medical markets. The lineup features innovative strains such as Electric Honeydew and Ultra Grape Kush, showcasing unique genetics and high-potency THC levels. The new products include high-potency gummies, flower, and infused pre-rolls. This marks Aurora's most substantial release in over two years, with over 60 new offerings becoming available in October.
Aurora Cannabis (NASDAQ: ACB, TSX: ACB) announced on October 7, 2022, a repurchase of approximately $31.3 million in convertible senior notes, costing $29.8 million in cash, including interest. This transaction aims to reduce the company's debt and annual cash interest costs, yielding annual savings of about $11.9 million. With roughly $380 million in cash and cash equivalents, Aurora's balance sheet remains robust, and the company expects to achieve a positive Adjusted EBITDA run rate by December 31, 2022.
Akanda prepares for its first export shipment of premium cannabis from its Portugal-based Holigen facility to Germany. The company targets a 10% market share in the growing German medical cannabis sector, backed by a supply agreement with Cansativa for 1,000 kilograms of cannabis. This initiative positions Akanda to capitalize on Germany's medical cannabis market, which has seen a 27% increase in imports. Additionally, Akanda has partnered with Cookies to enhance its brand presence and expand into potential adult-use markets in Europe.
Aurora Cannabis (ACB) announced strong Q4 2022 results, with international medical cannabis net revenue up 35.4% year-over-year and 70.3% from fiscal 2021. The company reaffirmed its adjusted EBITDA profitability run rate by December 31, 2022 and projected $150-170 million in annual cost savings. Aurora strengthened its balance sheet with a $155.3 million debt reduction and made profitable acquisitions, enhancing growth opportunities. Despite challenges in the Canadian market, the firm remains focused on high-margin segments.
Akanda Corp. announced the appointment of Terry Booth, founder of Aurora Cannabis (NASDAQ: ACB), as the Chair of its new Advisory Board, aimed at enhancing the company's European strategy. Booth led Aurora's growth into a $16 billion market cap company and has significant experience in the cannabis sector. Akanda’s CEO, Tej Virk, highlighted Booth's expertise as a validation of their strategy to lead the emerging European cannabis market. Booth expressed confidence in Akanda's positioning within the industry.
Aurora Cannabis Inc. (NASDAQ: ACB, TSX: ACB) announced a conference call on September 20, 2022, at 5:00 p.m. Eastern Time to discuss its fourth quarter and full fiscal year 2022 results, releasing financial data that same day. The CEO, Miguel Martin, and CFO, Glen Ibbott, will lead the discussion, which will be available via webcast. Additionally, Aurora has scheduled its Annual General and Special Meeting of shareholders on November 14, 2022, at 1 p.m. Eastern Time, providing shareholders with further insights into company performance.
Aurora Cannabis (ACB) has acquired a controlling 50.1% interest in Bevo Agtech, a leading North American supplier of propagated vegetables and ornamental plants. This acquisition, valued at approximately $45 million with potential additional payments of up to $12 million based on performance, is expected to generate about $9 million in adjusted EBITDA immediately. Bevo will continue under its current management, utilizing Aurora Sky for plant cultivation, which aligns with Aurora's goal of achieving positive adjusted EBITDA by early fiscal 2023.
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