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Wednesday, November 25, 2020

Aurora Cannabis Inc (OTCMKTS:ACBFF) Continues to Fight for Supremacy in the Cannabis Patch

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Aurora Cannabis Inc (OTCMKTS:ACBFF) has been potentially solidifying its show of recent support following a strong defense of the $5.57/share level earlier this month. As we have noted, the Canadian cannabis patch has become a dog-eat-dog world. Under such circumstances, the fight for survival is tantamount to a fight for supremacy, which points to expansion as the raison d’être of every strategic decision.

As a case in point, the company just announced it is acquiring approximately 71 acres of land in Medicine Hat, Alberta, where the Company intends shortly to commence construction on a new high-technology hybrid greenhouse cannabis production facility. According to the release, “to this end, the Company has signed a memorandum of understanding with the City of Medicine Hat, concerning terms and a general understanding of potential transactions, including a prospective 10-year, 42 MW energy supply agreement.”

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 a40,000 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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“Aurora Sun exemplifies our cultivation and production philosophy focused on purpose-built, high technology, highly automated facilities with industry-leading efficiency, resulting in ultra-low production costs to ensure robust margins in all our markets,” said Terry Booth, CEO. “We have significantly differentiated Aurora from our peers by investing in and rapidly building the world’s most advanced model of cannabis production on a mass scale. We believe the Aurora Standard of cannabis production represents the most effectively replicable and scalable system to establish a successful global footprint.”

Mr. Booth added, “We are grateful to the City of Medicine Hat, which has proven to be a very agile, capable and pro-active partner in making this project possible. We look forward to establishing ourselves both as an important local investor and employer, with more than 450 full time jobs anticipated, and a significant impact on the local economy for years to come.”

The chart shows basically flat action over the past week, but about 20% in upside off its recent pivot lows. ACBFF has a history of dramatic rallies. Moreover, the name has seen interest climb, with an increase in recent trading volume of 13% beyond its prior sustained average level.

Now commanding a market cap of $3.8B, ACBFF has a significant war chest ($350.8M) of cash on the books, which compares with 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%. As more color becomes clear on the name, we will review the situation and update our take. 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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