In early March AURORA CANNABIS IN COM NPV (OTCMKTS:ACBFF) was unchanged on the year trading at $1.65 per share, if you look at where they closed last night they are up 43% on the year after some nice volume days. Also, much of the rally came in the last week sending shares testing yearly highs near $2.50 per share.
Much of the catalyst comes from the completed acquisition of Peloton Pharmaceuticals Inc. , a Montreal – area late-stage ACMPR-applicant. Peloton is completing construction of a state-of-the-art 40,000 square foot cannabis production facility in the City of Pointe-Claire , Québec, which received a “ready to build” letter from Health Canada in 2014. At full capacity, the facility is expected to be capable of producing up to 3,900 kg of high quality cannabis per year.
AURORA CANNABIS IN COM NPV (OTCMKTS:ACBFF) management believes the Peloton facility is approximately 80% complete, and can be ready for Health Canada’s pre-licensing inspection by the second half of 2017. This seemed to draw interest from investors as it will likely lead to solidifying revenue for Aurora.
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$ACBFF 10-Day Chart Below.
Pursuant to the terms of the Proposal, which was accepted by the requisite majorities of creditors, approved by the Quebec Superior Court of Justice, and supported by management of Peloton, ACBFF has funded a total investment pool of up to an aggregate of $7,000,000 – subject to post-closing adjustments, comprised of cash and common shares of Aurora for distribution to creditors.
“The Peloton acquisition is another major strategic advance for Aurora, expected to provide us in the near term with additional high quality, low-cost production capacity, as well as an important presence in Montreal , with the capability to serve Québec and the Atlantic Provinces, and to further expand our industry-leading e-commerce strategy,” said Terry Booth , CEO. “In addition, the cost of this acquisition – a fraction of the market valuation of current publicly traded licensed producers – it represents an excellent value for Aurora and our shareholders.”
The Peloton site will be Aurora’s third growing facility, in addition to the Company’s 55,200 square foot facility in Cremona, Alberta and “Aurora Sky”, the Company’s 800,000 square foot facility currently under construction at Edmonton International Airport, in Leduc County, Alberta .
“The Aurora Standard is about more than just growing the highest quality cannabis,” said Neil Belot , Chief Global Business Development Officer at Aurora. “It also stands for our commitment to providing superior service and care to our patients. The Peloton facility, and its presence in Québec, will further enhance our ability to serve our clients in Eastern and Atlantic Canada .”
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 , and is currently constructing a second 800,000 square foot production facility, known as “Aurora Sky”, at the Edmonton International Airport. The Aurora Sky project has secured advanced technology from the most renowned design and construction suppliers in the Netherlands.
Aurora Cannabis Inc. (OTCMKTS:ACBFF) is a widely held cannabis stock in the sector with one of the higher valuations, it is impressive when it has a 43% expansion in a month, but the cannabis industry has been on a roll since the US Election where investors bought nearly every publicly traded cannabis company on the map. Over the long haul these larger market caps will have less volatility than other stocks in the sector. In face many other names in cannabis have 100% moves on a regular basis which is indicative of early misunderstanding of sector valuations. Markets will settle in and clear winners and losers will emerge as the industry matures – but for now 43% moves in a month from one of the industry leaders is the norm. For continuing coverage on shares of $ACBFF stock, as well as our other hot stock picks, sign up for our free newsletter today and get our next hot stock pick!