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 (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.
Aurora Cannabis has successfully repurchased approximately $25.3 million in convertible senior notes for $24.3 million in cash, achieving a 5.25% discount to par value. This strategic move aims to reduce debt and annual cash interest costs, with total savings now amounting to $9.5 million annually from Q3 2022 onwards. Aurora's current balance sheet showcases $455 million in cash, reinforcing its position as a leader in the cannabis industry, alongside a projected positive adjusted EBITDA by the first half of fiscal 2023.
Aurora Cannabis Inc. announced the successful closing of its bought deal offering, raising approximately US$172.5 million by selling about 70.4 million Units at US$2.45 each. The offering included an over-allotment option exercised in full. As a result, the company expects to avoid using its ATM facility in the near future, which has US$186 million outstanding. Each Unit consists of a common share and a warrant with an exercise price of US$3.20 per share for 36 months. The net proceeds will support general corporate purposes.
Aurora Cannabis Inc. (NASDAQ: ACB, TSX: ACB) has amended its bought deal financing, with underwriters led by Canaccord Genuity and BMO Capital Markets agreeing to purchase 61.2 million units at US$2.45 each, raising approximately US$150 million. Each unit includes a share and a warrant, which can be exercised at US$3.20. The underwriters have a 30-day option to buy an additional 15% of the offering. Proceeds will support general corporate purposes, with closing anticipated around June 1, 2022, pending standard approvals.
Aurora Cannabis Inc. (NASDAQ: ACB) announced a bought deal financing agreement to sell 51.1 million units at US$2.45 per unit, totaling approximately US$125.2 million. Each unit includes one common share and a warrant, exercisable for three years at US$3.20. The underwriters have a 30-day option to purchase 15% more units. The gross proceeds are intended for general corporate purposes. The offering is expected to close around June 1, 2022, subject to regulatory approvals.
Aurora Cannabis Inc. (NASDAQ: ACB) announced that its new medical cannabis production facility in Leuna, Germany has received EU-GMP certification. This milestone enables Aurora to produce and distribute premium medical cannabis in Germany, a market currently serving about 100,000 patients, presenting significant growth potential. The facility, awarded a contract in 2019 for 1,000 kg of cannabis annually over four years, is set to begin shipments to German pharmacies by month-end. CEO Miguel Martin emphasized the company’s commitment to high-quality production and expanding patient access in Germany.
Aurora Cannabis (ACB) reported Q3 2022 results, highlighting a 8% year-over-year increase in medical cannabis revenue to $39.4 million, driven by a 55% rise in international sales. The company has increased its expense savings target to $150-$170 million by H1 2023, up from $60-$80 million. Adjusted EBITDA loss narrowed to $12.3 million, showing improvement from prior quarters. Despite a 17% sequential decline in total revenue to $50.4 million, management remains optimistic about achieving positive adjusted EBITDA by mid-2023. The balance sheet is strong with $480.6 million in cash.