We’ve been staying hot on the trail of AURORA CANNABIS IN COM NPV (OTCMKTS:ACBFF) as the drama has unfolded between itself, and CanniMed Therapeutics, a company it intends to acquire. When Aurora announced its intent to make an offer to purchase all of the issued and outstanding common shares of CanniMed, the CannaMed board refused to engage with Aurora in any discussions.
It led the company to take official action with Canadian securities regulators, and last week we learned that the Ontario Securities Commission mostly sided with Aurora in hearings that recently took place on the matter.
This week, we’re learning that pursuant to the OSC rulings, and further to AURORA CANNABIS IN COM NPV (OTCMKTS:ACBFF)’s initial offer, the company purchased 450,000 common shares of CanniMed, which had previously been barred by CanniMed’s shareholder rights plan, later vacated by the commission rulings. This storyline has progressed rather quickly, and we’re going to continue to keep track of each development, as we have done since it started.
Meanwhile, however, there were a number of other updates that we also wanted to cover pertaining to other aspects of Aurora’s business, primarily one involving NAMASTE TECHNOLOGI (OTCMKTS: NXTTF), another company that we regularly discuss here on Street Register.
The PR announced the signing by the two entities of a binding term sheet towards a final Private-Label Software Agreement whereby Namaste will provide Aurora’s wholly-owned subsidiary, CanvasRx Inc. with a customized version of Namaste’s patient acquisition tool, NamasteMD.com, as well as desktop and mobile applications for Google Android and Apple iOS platforms. The companies have 30 days to complete a final agreement. NamasteMD is an online telemedicine platform for patient consultation and registration, bringing together Namaste`s tested technology platform, including certain proprietary authentication technologies, as well as consultation, education and medical document issuance processes.
In addition, the companies have also signed a non-binding, non-exclusive Letter of Intent to complete a final Consultation & Support Services Agreement whereby Namaste will provide patient referral services to Aurora, where applicable under Canada’s Access to Cannabis for Medical Purposes (ACMPR) regulations. (Source: Canada Newswire)
Lastly, as of December 31, 2017, Aurora’s cash plus marketable securities exceeded $500 million. The Company’s cash position remains above $320 million, while the total value of Aurora’s investments in Radient Technologies (TSXV: RTI), Hempco Food and Fiber (TSXV: HEMP) and Cann Group of Australia (ASX: CAN) currently stands at $179.2 million. The latter figure represents a return of 342%, based on original investments of $40.5 million, strongly validating the Company’s strategic investment and partnership strategy. Aurora begins 2018 with unparalleled financial strength to accelerate its aggressive domestic and international expansion strategy.
For the month of November, 2017, Aurora achieved record net cannabis revenues of $3.1 million, based on sales of 354,000 grams or gram equivalents in Canada and through the Company’s wholly owned German subsidiary Pedanios. Pedanios established a new monthly record for weight of product sold of 74,000 grams in November. Pedanios, based in Berlin, is the leading distributor of medical cannabis in the European Union (Source: Canada Newswire)
As we’ve been reminding our readers every chance we get, a Canadian Cannabis boom is on the horizon, with nationwide legalization taking effect just seven short months from now. That’s why there’s no chance of us slowing down our coverage of Canada-based marijuana companies. The best is yet to come and Aurora will be among those companies reaping the rewards of their hard work as a result. 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