The legal cannabis industry is one of the most fast-paced growing industries currently, due to multiple states in the U.S. legalizing cannabis for recreational or medicinal use. According to a New Frontier Data report, the total cannabis market sales are expected to exceed $24B by 2025. Now, medicinal marijuana sales are expected to grow to over $13B in 2020, while adult recreational sales are expected to grow to over $11B. Medicinal marijuana use is now legal in over 25 U.S. states, and 8 states legalized recreational marijuana use. AURORA CANNABIS IN COM NPV (OTCMKTS: ACBFF) is one medical marijuana company that could ride the wave of growth in the industry.
Aurora Cannabis’ wholly-owned subsidiary, Aurora Cannabis Enterprises Inc., is a licensed producer of medical cannabis pursuant to Health Canada’s Access to Cannabis for Medical Purposes Regulations. The company operates a 55.2K square foot, state-of-the-art production facility in Mountain View County, Alberta. Aurora Cannabis is currently constructing a second 800K square foot production facility, known as ‘Aurora Sky’, at the Edmonton International Airport. The Aurora Sky project has secured advanced technology from the most renowned design and construction suppliers in the Netherlands.
AURORA CANNABIS IN COM NPV (OTCMKTS: ACBFF) recently revealed the second generation of its popular mobile application, which incorporates multiple enhanced features in order to provide a significantly upgraded user experience to new and existing clients. In addition to Aurora’s industry leading same-day and next-day delivery services, the app could further expand the company’s e-commerce strategy, which could differentiate the Aurora Cannabis from its competitors.
Aurora Cannabis had some recent developments that could push the stock higher. The company recently announced that Neil Belot was promoted to Chief Global Business Development Officer. Now, Belot previously held the position of Chief Brand Officer, and he could help the company expand internationally with his new role.
According to Aurora Cannabis CEO Terry Booth, “Neil’s unique talents and exceptional leadership have helped Aurora swiftly establish itself as one of the most respected cannabis companies in Canada. We are thrilled to have him leading our global business development, as federally regulated cannabis markets evolve and expand both here at home and around the world.”
In addition to this news, Aurora Cannabis announced it introduced the cannabis industry’s most comprehensive product testing disclosure process, which could be a key driver of earnings and revenue growth. Aurora completed its first step in the two-step process, which provides Aurora clients and the general public with access to every cannabis product’s simplified Certificate of Analysis, keep in mind these would only be for those available for sale on the company’s menu.
According to Booth, “This initiative further extends Aurora’s best-in-class Quality Assurance and testing protocols, and gives our clients additional certainty regarding the purity and safety of the cannabis we produce and sell…From the founding of our Company, we have established and emphasized a strict culture of regulatory compliance. We have never used pesticides in our production, yet we have always tested all the products we sell for the presence of pesticides and other potential contaminants. It is imperative that patients have confidence in the safety of the products they consume, and in the integrity of the medical cannabis system. We believe our testing disclosure process will raise the bar for the entire sector, and offer a model for other companies to follow.”
Moreover, Aurora Cannabis recently announced its proposal to acquire Peloton Pharmaceuticals Inc. Peloton Pharma is constructing a 40K square-foot cannabis production facility in Pointe Claire, Quebec, and it also received a “ready to build” letter from Health Canada in 2014. Now, in the terms of the proposal, the company would provide a total investment pool of $7M of both cash and common shares of ACBFF for distribution to Peloton’s creditors.
ACBFF was up over 300% over the past year, and it could continue to rise after these developments. Now, you may want to keep an eye on this stock because one positive catalyst could push shares higher. That in mind, you don’t need to sit at your desk all day to wait for updates on this stock. All you have to do is enter your email to subscribe to our free newsletter, and you would get news updates on ACBFF, as they’re released.