Aurora Cannabis Inc Stock Price, News & Analysis

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).

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.