AURORA CANNABIS IN COM NPV
AURORA CANNABIS IN COM NPV (OTCMKTS:ACBFF) shares fell 0.45% after the company announced a grant of stock options and restricted share units to directors and officers of the company. The Canadian cannabis company has granted the officials option to purchase 1.9 million common shares at an exercise price of $2.76.
The granted shares have a five-year term and 525,000 shares vest over 12 months while 1.375 million vests over 36 months. The grants are subject to approval by the Toronto Stock Exchange (TSX) as well as shareholders at an upcoming Annual General Meeting.
AURORA CANNABIS IN COM NPV (OTCMKTS:ACBFF) is currently trading in an uptrend as investor confidence on the stock continues to increase following successive quarters of sales growth. The stock is trading in a tight $2.20 – $2.25 trading range and has a 52-week high of $2.96 a share.
ACBFF Robust Growth
AURORA CANNABIS IN COM NPV (OTCMKTS:ACBFF) reported impressive fourth-quarter earnings highlighted by a 391% growth in revenues that came in at $5.9 million compared to $1.2 million reported last year. Revenue for the full year was up by 1,155% to $14.6 million.
The revenue increase underscores the growth in the company’s footprint in the Canadian legal cannabis business. The company also experienced a huge increase in the number of registered patients for its products in the year, which led to the breathtaking sales growth. Aurora Cannabis Company had 16,400 registered patients compared to 4,500 a year ago.
In a bid to solidify its position, Aurora Cannabis is in the process of developing Aurora Sky Project. The state of the art 800,000 square facility will be the most technologically advanced and automated cannabis production facility in the world.
Separately, AURORA CANNABIS IN COM NPV (OTCMKTS:ACBFF) has signed an exclusive hardware supply agreement for the Canadian market with Namaste Technologies. Under the terms of the agreement, the cannabis company is to offer a curated selection of industry-leading Namaste vaporizers.
Namaste in return is to establish a direct inventory feed to both Aurora’s online shop and mobile app,
“This partnership is great for our clients and for Aurora, as it significantly broadens our product offering to customers, while requiring no capital outlay on our part,” said Terry Booth, CEO of Aurora.
I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.
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