Our last article on AURORA CANNABIS IN COM NPV (OTCMKTS:ACBFF) came just a few days ago, and was entitled ‘Big Days Ahead for ACBFF’. Less than week into the future and the company has provided us with multiple key updates.
Apart from being fantastically diversified, and one of Canada’s strongest cannabis industry players, another thing we find attractive about the company is its willingness to keep its shareholders informed at every turn. In fact, over the past four months, the company has averaged over 5 press releases per month.
In a hugely relevant development, AURORA CANNABIS IN COM NPV (OTCMKTS:ACBFF) this week announced that the Company’s 40,000 square foot, yield-optimized indoor production facility in Pointe-Claire, Quebec has received its cultivation license from Health Canada. The newly licensed facility, to be known as “Aurora Vie”, makes Aurora only the second licensed producer in Quebec, Canada’s second most populous province, with more than 8.2 million people.
Aurora Vie was acquired in April, 2017 for $7 million, at which time it was approximately 80% complete. The facility has since been completed, with approximately $3 million in configuration and technology upgrades specifically designed to meet European Union (EU) Good Manufacturing Practices (GMP) certification standards. Aurora Vie has a projected cultivation capacity of approximately 4,000 kg of high quality cannabis per year, and features many cultivation and automation technologies the Company will also be implementing at its 800,000 square foot Aurora Sky facility under construction at Edmonton International Airport.
Initially, genetics (clones) will be transferred from the Company’s Aurora Mountain facility to Aurora Vie, and the Company anticipates first harvest in the first calendar quarter of 2018. Aurora Vie’s yield-optimized design provides for tremendous flexibility to grow a wide variety of strains, including rare but sought after cultivars not yet on Aurora’s menu. This will further expand the Company’s product offering, and strengthen its brand recognition as cultivator of choice for high quality cannabis. (Source: Canada Newswire)
In other news, Aurora has officially completed its $69M offering as well as a $6M private placement, and this week also appointed Darryl Vleeming as its new Chief Information Officer.
Mr. Vleeming comes to Aurora with over 20 years of experience in Senior IT leadership, project delivery, and IT strategic planning at publicly traded international corporations, with a specific focus on driving business value. Prior to joining Aurora, Mr. Vleeming spent eight years, lastly as Vice President, IS and Chief Information Officer, at Capital Power Corporation, a $2.5 billion, TSX listed independent power producer. Among other responsibilities, Mr. Vleeming was in charge of the division running the corporation’s mission critical IT systems, general IT asset management, as well as development of the corporation’s strategic technology vision to drive competitive differentiation. Prior to Capital Power, Mr. Vleeming was Manager of Systems Development at EPCOR, one of Canada’s top providers of energy and energy-related services and products in Alberta, Ontario, and the United States.
Mr. Vleeming holds an Executive MBA from the University of Athabasca, and a Computer Systems Technology Honours Diploma from the Northern Alberta Institute of Technology (NAIT). (Source: Canada Newswire)
We’re excited for ACBFF’s newly issued Health Canada licensed in an underserved and populous province like Quebec. When all is said and done, the company is poised to have a million or more square feet of cannabis growing space, positioning itself to be one of Canada’s major pot players for years to come. Keep it locked to Street Register for updates, and we’ll deliver those important developments on ACBFF to you 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.