Aurora Cannabis Inc Stock Price, News & Analysis

Aurora Cannabis (NASDAQ: ACB; TSX: ACB) will discuss its fourth quarter and full fiscal year 2021 results on September 21, 2021, at 5:00 p.m. ET. The financial results will be released after market close on the same day. The call will be hosted by CEO Miguel Martin and CFO Glen Ibbott, allowing investors to submit questions through the provided web link. The company will also conduct its Annual General Meeting virtually on November 12, 2021, at 12:00 p.m. ET.

High Tide Inc. has successfully converted all outstanding META Convertible Debentures into common shares, significantly reducing its total debt from approximately $71 million to $28.4 million, with $10.8 million being non-interest bearing. The company reported that total debt maturities for the next 12 months are $1.6 million. This move is part of High Tide's strategy to strengthen its balance sheet while expanding its e-commerce presence in the U.S. market. CEO Raj Grover emphasized growth in revenues and cash reserves since acquiring META in November 2020.

Aurora Cannabis Inc. (ACB) announced the successful delivery of its initial shipment of medical cannabis to France's pilot program, in partnership with Ethypharm. This pivotal milestone emphasizes Aurora's role as a primary supplier, fulfilling obligations to provide premium cannabis products sourced from its EU GMP facility in Denmark. The pilot program, set to serve patients shortly, marks a significant step toward increasing access to medical cannabis in France and potentially developing a large regulated market across Europe.

Aurora Cannabis (ACB) announced the appointment of Theresa Firestone as a new independent director, expanding its Board to nine members, with seven being independent. Firestone brings over 20 years of experience in healthcare and pharmaceuticals, previously holding senior roles at Pfizer and the Ontario Ministry of Health. Her extensive expertise in strategic planning and business development is expected to enhance Aurora's strategic growth plans while managing costs. Chairman Ronald Funk expressed confidence in her ability to contribute significantly to the company.

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).