AURORA CANNABIS IN COM NPV (OTCMKTS:ACBFF), a licensed Canadian medical marijuana producer under Health Canada’s Access to Cannabis for Medical Purposes Regulations (ACMPR), has been a boon for American investors who are looking for haven from a perceived domestic fight on marijuana that could be a long, dragged-out process.
Meanwhile, new horizons are about to open up North of the border- at any moment this week, the Canadian government is expected to announce legislation that will legalize marijuana in Canada by July of next year. Each province will have the right to develop its own methods of structuring how marijuana is sold and distributed in that region.
The possibilities in all of this for AURORA CANNABIS IN COM NPV (OTCMKTS:ACBFF) are numerous, with the company already showing a full-court press on increasing its yield potential through new grow spaces both planned and acquired. We’ve been talking about ACBFF here on Street Register for quite a time, and we’ve seen several really nice moves from the stock. We expect the company’s good fortune to continue if it keeps progressing as fast as we’ve observed so far.
Last week, after only having revealed its plans to do so at the beginning of March, the company announced it had completed the acquisition of Peloton Pharmaceuticals Inc, a Montreal-area late-stage ACMPR-applicant.
Peloton is completing construction of a state-of-the-art 40,000 square foot cannabis production facility in the City of Pointe-Claire, Québec, which received a “ready to build” letter from Health Canada in 2014. At full capacity, the facility is expected to be capable of producing up to 3,900 kg of high quality cannabis per year. Aurora management believes the Peloton facility is approximately 80% complete, and can be ready for Health Canada’s pre-licensing inspection by the second half of 2017.
To receive updates on ACBFF enter your primary email in the box below!
Pursuant to the terms of the Proposal, which was accepted by the requisite majorities of creditors, approved by the Quebec Superior Court of Justice, and supported by management of Peloton, Aurora has funded a total investment pool of up to an aggregate of $7,000,000, subject to post-closing adjustments, comprised of cash and common shares of Aurora for distribution to creditors.
“The Peloton acquisition is another major strategic advance for Aurora, expected to provide us in the near term with additional high quality, low-cost production capacity, as well as an important presence in Montreal, with the capability to serve Québec and the Atlantic Provinces, and to further expand our industry-leading e-commerce strategy,” said Terry Booth, CEO. “In addition, the cost of this acquisition – a fraction of the market valuation of current publicly traded licensed producers – it represents an excellent value for Aurora and our shareholders.”
The Peloton site will be Aurora’s third growing facility, in addition to the Company’s 55,200 square foot facility in Cremona, Alberta and “Aurora Sky”, the Company’s 800,000 square foot facility currently under construction at Edmonton International Airport, in Leduc County, Alberta. (Source: Canada Newswire)
What that means is, when all is said and done, and ACBFF has completed the build-out of its massive Edmonton facility, the company will have more than 895,000 square feet of growing space for premium marijuana. The potential output of that amount of space is simply staggering, and that’s one of the main aspects that makes this play so intriguing along with its activity on the chart. We’re going to be sure to stay hot on the trail of ACBFF, monitoring for any key changes or developments, which we’ll then pass along to our members! Make sure you’re signed up for our free small-cap newsletter. All you need to do is enter your email address into the box below and submit. Subscribe now!