The trend of AURORA CANNABIS IN COM NPV (OTCMKTS:ACBFF) being one of the most transparent cannabis companies out there continued last week. We reported on Aurora’s Health Canada licensure to grow and distribute marijuana in the underserved province of Quebec, where the company is now just the second accredited grower.
We also touched upon an exclusive hardware agreement the company reached with Namaste Technologies Inc (OTCMKTS: NXTTF), in order to begin selling Namaste’s high quality herbal vaporizers, which logged over 200 orders over the first three days of the offering going live, which is an extremely impressive uptake.
Today, we want to go over another story we’ve been following in AURORA CANNABIS IN COM NPV (OTCMKTS:ACBFF), namely the company’s proposed investment in Hempco. It’s now been reported that shareholders of Hempco have resolved, at a Special Meeting last week, to approve the proposed investment by Aurora in Hempco by way of private placement, as well as approved the option whereby Aurora has the right to buy from two of Hempco’s principal shareholders, additional shares that, if fully exercised and on a fully diluted basis, combined with the private placement shares, would bring Aurora`s ownership of Hempco to in excess of 50%. Details of the investments have been described in detail in a press release dated September 18, 2017 and has been filed on www.sedar.com.
“We are very pleased that Hempco shareholders have resolved to approve our proposed investment,” said Terry Booth, CEO. “Having received approval Hempco now will have additional funds to complete its Nisku facility and aggressively pursue growth. For us the partnership brings product diversification, as well as, subject to anticipated regulation changes, a low-cost source of raw CBD material for extraction through our partnership with Radient Technologies Inc.” (Source: Canada Newswire)
Concurrent with the Hempco announcement, came the company’s quarterly report for Q1 of Fiscal 2018, which included solid growth figures including roughly a 17% year-over-year rise of active registered cannabis patients, and grams of cannabis sold. There was a decrease in grams produced, reflecting greater operational efficiency combined with rising sale prices.
“Aurora is performing brilliantly, with powerful domestic and international revenue growth, record harvests, decreasing per-gram production costs, industry-leading integration of technology, and exceptional execution, which is testament to the outstanding team we’ve assembled,” said Terry Booth, CEO. “In just six months, we acquired our next-generation Aurora Vie facility, completed it with major upgrades, and received our production license, nearly doubling our production capacity. At Aurora Sky, we’re building what by mid-2018 will be the world’s largest capacity production facility, and we’re doing it at an amazing pace. We’ve made smart acquisitions, established ourselves as a partner of choice for strategic alliances, and expanded our product offering to customers. I’m absolutely delighted with the A-Team’s performance. Being exceptionally well capitalized, our balance sheet provides the fuel needed to maintain a very high pace for footprint and product offering expansion. The agility and execution track record of our team translate into strong confidence in our ability to create significant further shareholder value going forward as we aggressively pursue domestic, international and product line growth.” (Source: Canada Newswire)
Anyone who’s been following our coverage of ACBFF will instantly recognize why we laud the company’s transparency. Typically, very little time elapses between key PRs, making Aurora one of the most committed companies when it comes to the timely relaying of pertinent information to shareholders both existing and prospective. 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.