We’ve been covering AURORA CANNABIS IN COM NPV (OTCMKTS:ACBFF) here on Street Register for the better part of 2017 so far, and the company seemingly never fails to come with development after development.
The past few weeks in particular have been a whirlwind of new updates coming from the Canada-based cannabis company with its hands in both the Canadian and domestic markets. Beginning shortly after our last mention of the stock and leading through to this week, we’ve seen key agreements, operational updates, and word of the company’s Canadian shares graduating to a higher exchange.
It was the end of June when AURORA CANNABIS IN COM NPV (OTCMKTS:ACBFF) partnered with WeedMD Inc. (TSX-V: WMD) the terms of which will see WeedMD providing wholesale dried medical cannabis to Aurora, with Aurora in turn providing patient education services for WeedMD through its cannabis counselling and outreach unit CanvasRx. WeedMD’s commitment under the agreement is to wholesale product to Aurora for demand above and beyond WeedMD’s own patient requirements. Pursuant to the agreement, WeedMD made an initial sale to Aurora out of inventoried product, while ensuring that its retained supply is such that current and future patient needs can be met. Aurora, in turn, will assist WeedMD with its patient education and outreach program through the Company’s CanvasRx unit. This makes available to WeedMD expert knowledge and experience in patient counselling, outreach and interaction, accelerating WeedMD’s ability to engage with its growing customer base. (Source: Globe Newswire)
Shprtly thereafter the company reported surpassing the 16,000 active registered patient benchmark less than 18 months after the Company’s first product sale in January, 2016. Registration accelerated in the months of May and June, 2017, adding approximately 3,000 patients during that period. Aurora also achieved a new monthly record in May 2017 with gross revenue of more than $2.4 million, representing a 38% increase in revenue compared to January 2017. May reflects the first full month in which sales of the Company’s Aurora Drops line of ingestible cannabis oils, launched in April 2017, and supplemented sales of dried cannabis.
Meanwhile, Health Canada has granted Aurora a two-year renewal of its license to produce and sell dried cannabis and cannabis oils at the Company’s production facility in Mountain View County, Alberta. (Source: Canada Newswire)
Lastly, coming down the newswires this week was the announcement that the company has received conditional approval from the Toronto Stock Exchange (TSX) to graduate from the TSX Venture Exchange and list its common shares on the TSX. 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 prior to the commencement of trading on the TSX.
“Aurora’s graduation to the TSX, for which we anticipate receiving final approval imminently, is another exciting milestone, reflecting our remarkable pace of growth and expansion, both across Canada and internationally,” said Terry Booth, CEO. (Source: Canada Newswire)
We’ve been pounding the table on Aurora for several months now and we haven’t been sorry yet. It’s tough to recall another company which has blossomed and developed with the rapidity that ACBFF has, and for that reason we will continue to stay hot on its trail. 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.