Aurora Cannabis (ACB.V) (ACBFF)Â will join Canopy Growth (WEED.TO) (TWMJF), Aphria (APH.TO) (APHQF), CanniMed (CMED.TO) (CMMDF), and MedReleaf (LEAF.TO) on the TSX Exchange after it has received conditional approval to list on the Toronto Stock Exchange earlier today.
Upon receiving final approval, the common shares will continue to trade under the symbol, ACB. In conjunction with listing on the TSX, the common shares will be voluntarily delisted from the TSX Venture Exchange.
An Execution Story
In late June, Aurora released an operational update that provides insight into how the company has benefited from its recent initiatives and investments.
Aurora has one of the strongest balance sheets when compared to its peers and we are favorable on the company’s long-term outlook. Highlights from the update include:
- Surpassed 16,000 active registered patients in less than 18 months after it started selling products in January 2016. In May and June, the company added approx. 3,000 patients.
- In May, Aurora generated $2.4 million in revenue, a new monthly record. This comes after the company launched a cannabis oil product line, Aurora Drops in April and was the first full month of sales.
- June will be the first month to include revenue from its acquisition of Germany-based, Pedanios GmbH
- Health Canada renewed Aurora’s license to produce and sell dried cannabis and cannabis oils for two-years. The licensed pertains to Aurora’s facility in Mountain View County, Alberta.
- Aurora appointed Dr. Debra Wilson as its VP Human Resources. She has more than 20 years of experience in human resources management and administration. Dr. Wilson received her PhD in Psychology from Capella University in Minnesota, and her MBA from Royal Roads University in Victoria, B.C. She joined Aurora’s executive team and is an officer of the firm.
- The Aurora Sky facility is expected to be completed in the first half of 2018, with part of the facility commencing production in 2017. More than 200,000 square feet of steel frame has been erected, with glass installed, and foundation for the rest of the structure underway.
credit:420intel.com