Aurora Cannabis Inc Stock Price, News & Analysis

Aurora Cannabis (NASDAQ: ACB, TSX: ACB) has filed its management information circular in preparation for its annual and special meeting of shareholders on November 14, 2022. The materials, now being mailed to shareholders, outline the business to be discussed, voting instructions, and participation details. Key items for voting include the election of nine directors, the appointment of KPMG LLP as auditors, and amendments to the stock option plan. The Board recommends voting in favor of all proposals.

Aurora Cannabis (NASDAQ: ACB) announced a major fall product launch, expanding its portfolio across adult-use and medical markets. The lineup features innovative strains such as Electric Honeydew and Ultra Grape Kush, showcasing unique genetics and high-potency THC levels. The new products include high-potency gummies, flower, and infused pre-rolls. This marks Aurora's most substantial release in over two years, with over 60 new offerings becoming available in October.

Aurora Cannabis (NASDAQ: ACB, TSX: ACB) announced on October 7, 2022, a repurchase of approximately $31.3 million in convertible senior notes, costing $29.8 million in cash, including interest. This transaction aims to reduce the company's debt and annual cash interest costs, yielding annual savings of about $11.9 million. With roughly $380 million in cash and cash equivalents, Aurora's balance sheet remains robust, and the company expects to achieve a positive Adjusted EBITDA run rate by December 31, 2022.

Akanda prepares for its first export shipment of premium cannabis from its Portugal-based Holigen facility to Germany. The company targets a 10% market share in the growing German medical cannabis sector, backed by a supply agreement with Cansativa for 1,000 kilograms of cannabis. This initiative positions Akanda to capitalize on Germany's medical cannabis market, which has seen a 27% increase in imports. Additionally, Akanda has partnered with Cookies to enhance its brand presence and expand into potential adult-use markets in Europe.

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.