AURORA CANNABIS IN (OTCMKTS:ACBFF)
According to the Chief Executive Officer, Terry Booth, the approval will allow Hempco to gain access to additional funds needed for the completion of the Nisku facility. To Aurora Cannabis, the investment will allow it to diversify its product niche in addition to allowing to access low costs raw CBD materials.
“Today marks the beginning of a very exciting period for Hempco during which we expect to complete our capacity expansion and start executing on a number of market initiatives that we believe will drive significant growth,” said Hempco CEO, Charles Holmes.
The investment has strengthened investor confidence in AURORA CANNABIS IN (OTCMKTS:ACBFF) as seen by the stock’s solid performance in the market. The stock has already registered a new 52-week high of $4.69 a share as it continues to trade in a strong uptrend. For the full year, the stock is up by more than 100%.
Q1 2018 Financial Results
Renewed investor interest in AURORA CANNABIS IN (OTCMKTS:ACBFF) follows the announcement that the company continues to register strong patient and revenue growth. For the three months ended September 30, 2017, the legal cannabis company generated revenues of $8.2 million, representing a 39% year-over-year increase.
During the quarter, the company sold a total of 889,965 gram equivalent of cannabis, representing an 18% increase from the fourth quarter. Aurora Cannabis added 2,880 new active registered patients during the quarter. The company has since surpassed 20,000 active registered patients.
Revenue growth in the first quarter of 2018 allowed the company to strengthen its balance sheet and liquidity with $1.5 million in new financings. The company also has access to approximately $96 million in additional cash proceeds from the future exercise of warrants, stock options, and compensation options.
Construction of the Aurora Sky Facility is progressing well and expected to further strengthen AURORA CANNABIS IN (OTCMKTS:ACBFF) production capacity when complete. The facility should be able to produce 100,000 kilograms of cannabis annually for the company.
“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 a testament to the outstanding team we’ve assembled,” said Mr. Booth.
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.
Don’t miss out! Stay informed on $ACBFF and receive breaking news on other hot stocks by signing up for our free newsletter!