Aurora Cannabis Inc Stock Price, News & Analysis

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.

Aurora Cannabis (ACB) announced the repurchase of approximately $102.5 million of its convertible senior notes for $99.4 million in cash, achieving a 4.5% discount. This marks a total repurchase of $316.5 million over the past year, leading to annual cash interest savings of $17.4 million. The company reports a strong balance sheet and aims to achieve Adjusted EBITDA profitability by December 31, 2022.

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.