AURORA CANNABIS IN COM NPV (OTCMKTS:ACBFF), which is a company that we have been tracking and covering regularly here on Street Register, made some key additions to its management team this week.
As far as the stock itself is concerned, we’ve actually seen some consolidation off of the impressive highs that we saw back in March and April, when the stock ran 50.6% from 1.64-2.47. This month, it has come back down below the 2.00-mark, but instead of taking a dim view on this, we see it as the stock potentially setting up for another upswing.
AURORA CANNABIS IN COM NPV (OTCMKTS:ACBFF) is among our favorite Canadian cannabis stocks, and as we mentioned above the company has announced additions to the management team that will serve to bolster the company’s strength going forward.
A new Chief Financial Officer was appointed in Mr. Glen Ibbot, a seasoned senior healthcare executive with over 20 years’ experience providing financial leadership to various public entities, including management of Canadian and international capital market strategies, M&A, tax and finance, predominantly within the life sciences sector.
Most recently, Mr. Ibbott was CFO at QLT Inc, a NASDAQ and TSX listed Biopharmaceutical Company and played a key role in QLT’s $500 million merger with Aegerion Pharmaceuticals to form Novelion Therapeutics. Prior to his time at QLT, Mr. Ibbott held various senior finance positions, including with globally operating companies such as Nordion, International Forest Products, Angiotech Pharmaceuticals, Aspreva Pharmaceuticals, and Inex Pharmaceuticals. Earlier in his career, he worked within the technology practice of KPMG.
Mr. Ibbott completed MBAs at Cornell University and at Queen’s University, is a Canadian Chartered Professional Accountant (CPA, CA), as well as a US CPA, and holds a Bachelor’s of Business Administration from Simon Fraser University.
Mr Ibbot commented, “Aurora is one of the leaders and trailblazers within this remarkably fast-growing cannabis industry. I am excited about my new role and look forward to contributing and helping Aurora reach the next level in its unprecedented development. The Aurora Standard, its inclusive culture, and clear differentiation within the industry, were all important aspects that made it an easy decision to join the Company. I look forward to engaging with our partners, stakeholders, management and board of directors, in further building shareholder value and establishing Aurora as a long-term leader and success story in this sector.”
Additionally, the Company Andrea Paine as Director, Québec Affairs, operating out of Aurora’s Peloton Pharmaceuticals facility in Pointe-Claire, Québec, and in close proximity to both Montreal and Ottawa. Mrs. Paine will be responsible for external communications in Québec, including government and community relations, as well as internal communications at the Company’s new Pointe-Claire facility.
A former Citizenship Judge, Paine has over twenty years of experience working for Cabinet Ministers in both the Québec Provincial and Federal Governments, including the Federal Minister of Health, whom she supported as Director of Parliamentary Affairs. In this position, she was responsible for developing new legislation, steering this through the House of Commons, as well as negotiating with Opposition parties and other stakeholder groups. (Source: Canada Newswire)
Despite the falling stock price, which could see a reversal at any time, we like the additions that ACBFF made to its board. We also wouldn’t be surprised if we’re coming back to this one in the near future to talk about another spike on the chart. Stay locked to Street Register for updates, and we’ll deliver important developments on ACBFF as they unfold. In the meantime, if you’ve yet to sign up for our 100% free newsletter, do so now! Just enter your active email address into the box below and submit!
Disclosure: No one at Street Register has been compensated in any way for the publishing of this article, nor do we hold any position in ACBFF stock, short or long.