AURORA CANNABIS IN COM NPV (OTCMKTS:ACBFF) is part of a subtle war for production capacity. Across Canada, ACMPR first movers, or companies that have Health Canada’s blessing to grow cannabis, know there will be a shortfall in supply. ACBFF is in good position in this capacity battle.
ACBFF has strong expansion plans thanks to its 800,000-square-foot Aurora Sky project. Once completed next year, it could begin yielding 100,000 kilograms of dried cannabis annually. Aurora has claimed that this facility could be the most technologically advanced and automated when finished, which may wind up translating to high efficiency and low costs.
AURORA CANNABIS IN COM NPV (OTCMKTS:ACBFF) is a licensed producer of medical marijuana pursuant to the Marijuana for Medical Purposes Regulations and operates a 55,200 square foot expandable state-of-the-art production facility in Alberta, Canada.
ACBFF’s wholly-owned subsidiary, Australis Capital Inc., seeks to be an active participant in the U.S. Cannabis market. Aurora is trading on the Canadian Securities Exchange under the trading symbol “ACB”. The company is headquartered in Vancouver, Canada.
According to company’s materials, “Aurora’s wholly-owned subsidiary, Aurora Cannabis Enterprises Inc., is a licensed producer of medical cannabis pursuant to Health Canada’s Access to Cannabis for Medical Purposes Regulations (“ACMPR”). The Company operates a 55,200 square foot, state-of-the-art production facility in Mountain View County, Alberta, is currently constructing a second 800,000 square foot production facility, known as “Aurora Sky”, at the Edmonton International Airport, and has acquired, and is undertaking completion of a third 40,000 square foot production facility in Pointe-Claire, Quebec, on Montreal’s West Island. In addition, the Company holds approximately 9.6% of the issued shares (12.9% on a fully-diluted basis) in leading extraction technology company Radient Technologies Inc., based in Edmonton, and is in the process of completing an investment in Edmonton-based Hempco Food and Fiber for an ownership stake of up to 50.1%. Furthermore, Aurora is the cornerstone investor with a 19.9% stake in Cann Group Limited, the first Australian company licensed to conduct research on and cultivate medical cannabis. Aurora also owns Pedanios, a leading wholesale importer, exporter, and distributor of medical cannabis in the European Union (“EU”), based in Germany.”
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Furthermore, the company just scored a big win in Quebec with a cultivation liicense at the facility named: “Aurora Vie.” That would make ACBFF one of only two producers in a huge region. “We acquired Aurora Vie, completed construction with major upgrades, and achieved our production license in less than 6 months, which is absolutely remarkable,” said Terry Booth , CEO. “That’s testament to the strength of our team, our agility, and our disciplined execution. Aurora Vie itself is testament to our innovation. We are incredibly proud of our commitment to, investment in, and growth strategy for our Quebec operations, and look forward to servicing both the medical market and, once legalized, the adult consumer market with locally cultivated high-quality cannabis.”
In addition, the company recently added 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. This is a brand new position for ACBFF and shows how they want to fast-track growth ahead of recreational legalization.
Now commanding a market capitalization of $884.83M, ACBFF is a serious player in the Canadian cannabis industry and has potential to be a key player in filling supply gaps this time next year. ACBFF is pulling in major top-line growth, with y/y quarterly revenues growing at 386.5%. We will update the story again soon as developments transpire. Sign-up for continuing coverage on shares of $ACBFF stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!
Disclosure: we hold no position in $ACBFF, either long or short, and we have not been compensated for this article.