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Monday, November 30, 2020

The Case for Aurora Cannabis Inc (OTCMKTS:ACBFF)

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Aurora Cannabis Inc (OTCMKTS:ACBFF) has been consolidating right around its 50-day simple moving average over the past several weeks. And traders are asking themselves, Is the big run over? With $350M in cash on the balance sheet and continued high expectations for growth in the space, one could assume that ACBFF will continue to attract top-tier talent.

As a case in point, the company just announced the appointment of André Jérôme as Senior Vice President, Business Integration. According to the release, “in this newly created role, Mr. Jérôme will be responsible for the integration of acquisitions, as well as for the identification of potential synergies across existing subsidiaries and joint venture partners.”

Aurora Cannabis Inc (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. The Company operates a 55,200 square foot, state-of-the-art 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, based in Germany.”

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As noted above, the stock is at a key technical juncture. There are still a number of clear factors running in its favor. And we would assume the company has a lot of potential to add new HR gems to its crown as a leading player in a strong growth space.

“Since the H2 acquisition, André has demonstrated great leadership, a strong commitment to the Company’s success and a relentless focus on delivering results,” said Terry Booth, CEO. “M&A and business integration are key aspects of our expansion strategy, and with André we have found the right person to take on leadership of this important role. His experience in leading integrations teams on both sides of the fence within large multinational corporations will prove an important asset in creating shareholder value from new acquisitions. His appointment also reflects a strong commitment to our people and our future colleagues.”

Mr. Jérôme added “I am very excited to join the Aurora team, one of the global leaders in this transformational industry. In my short time with the Company, I have come to witness firsthand the total commitment to excellence, and the passion of the people. I look forward to playing my part in helping Aurora further accelerate growth.”

According to the release, Mr. Jérôme was granted 250,000 options, priced at $10.13. The options will apparently expire February 19, 2023, and vest quarterly over three years.

At this time, carrying a capital value in the market of $3.13B, ACBFF has a significant war chest ($350.8M) of cash on the books, which is balanced by virtually no total current liabilities. ACBFF is pulling in trailing 12-month revenues of $31.1M. In addition, the company is seeing major top-line growth, with y/y quarterly revenues growing at 201.2%. This may be a very interesting story and we will look forward to updating it again soon. 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.

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