AURORA CANNABIS IN COM NPV (OTCMKTS:ACBFF) has been one of our favorite Canadian cannabis companies for quite some time. Despite the stock itself coming down to its lowest prices since the end of March, it appears that the company is built on solid footing and headed in a very positive direction overall.
Aurora recently reported its Q3 financials, and management offered commentary on the overall state of things, including vital assurance that construction for the company’s 800,000 square foot growing facility in Edmonton, Alberta, is running on schedule.
Some of the highlights of a big quarter were relayed, many of which we covered right here on Street Register in recent months, and the things AURORA CANNABIS IN COM NPV (OTCMKTS:ACBFF) has achieved since then have included, but are certainly not limited to:
- Completion of Phase II of the research collaboration with Radient Technologies Inc. (“RTI”), and a report is expected from RTI, subject to confirmation of analytical results from Anandia Labs, by May 31, 2017.
- Completed the acquisition of Peloton Pharmaceuticals Inc., which includes a 40,000-square foot cannabis production facility in Pointe-Claire, Quebec, currently 80% complete. Subsequent to the acquisition, Aurora has re-initiated construction activities towards completion and licensing.
- Achieved sales pace exceeding $2 million in gross monthly revenues.
- Commenced sales of cannabis oils.
There was also a lengthy commentary by ACBFF CEO Terry Booth: “The tabling this spring of legislation to legalize adult consumer use of cannabis validates our aggressive growth and expansion strategy. The progress of construction and timelines to complete our 800,000 square foot Aurora Sky facility position us exceptionally well for the anticipated start of adult consumer sales by July 2018.”
Booth continued, “Our premium cannabis products continue to resonate strongly with the rapidly growing medical market. Following an exceptional patient growth rate for the first twelve months of commercial operations, demand continues to exceed available supply. We have pro-actively managed new patient registrations in Q3 2017 to balance demand with our steadily increasing production capacity to ensure we protect our position as a premium supplier. As our capacity increases and more product becomes consistently available, we anticipate patient acquisition will resume its steady growth. We are also very excited to have commenced cannabis oil sales shortly after the quarter ended. They have gotten off to a brisk start, and we expect these to be a material contributor to revenues, enabling us to capture significant share in this fast growing segment of the cannabis market.”
Booth concluded, “Going forward, with one of the strongest cash balances in the industry, we will be able to execute on our aggressive expansion plans, both domestically and internationally, as we have done successfully with the acquisition of Peloton and our participation in the IPO of Australia’s first licensed cannabis company, Cann Group. Finally, as we are maturing as an organization, we have added considerable strength to the management team with the appointments of a CFO and Director of Québec Affairs. These new team members will add important additional senior executive capacity as we pursue our goals and execute our growth strategy.” (Source: Canada Newswire)
With multiple irons in the fire and a dogged pace in pursuing the construction of a Canadian cannabis empire, we are as eager as ever to continue tracking ACBFF. Especially given that it has come down to a more affordable price recently, giving traders new to the stock a chance to grab up cheap shares, and existing investors a chance to average down their position. 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.