Welcome to our dedicated page for Aurora Cannabis news (Ticker: ACB), a resource for investors and traders seeking the latest updates and insights on Aurora Cannabis stock.
Aurora Cannabis Inc. reports developments in its global medical cannabis business, including product launches, brand expansion and regulated-market activity across Canada, Europe, Australia and New Zealand. The company serves medical and consumer cannabis markets through brands such as Aurora, MedReleaf, Pedanios, IndiMed, San Raf, Tasty's and Whistler, with GMP-certified manufacturing facilities in Canada and Germany.
Recurring announcements cover new formats such as dried flower, pre-rolls, pastilles and resin cartridges; operating and financial results; international market engagement; capital actions; and governance updates. Aurora's news also reflects its medical-first strategy and use of a global manufacturing network to supply regulated cannabis markets.
Aurora Cannabis (NASDAQ: ACB) and MedReleaf Australia have launched IndiMed Tempo 26, a new line of higher THC dried cannabis products for medical patients under the MedReleaf Concession Scheme (MCS). This initiative aims to enhance patient choice and accessibility to medical cannabis in Australia. Tempo 26 expands the product offerings available to doctors, allowing for more flexible prescriptions. The MCS provides discounted products for patients with certain concession cards, making it easier for those facing serious health conditions to access necessary treatments. Aurora holds a 10% stake in MedReleaf Australia, which is committed to high-quality cannabis cultivation.
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.
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