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Wednesday, December 2, 2020

Aurora Cannabis Inc (OTCMKTS:ACBFF) Enters the Race for Strategic Positioning in Maltese Market

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The race for the EU market continues to heat up as Aurora Cannabis Inc (OTCMKTS:ACBFF) moves into an aggressive posture in Malta, the third open market for cannabis in the European Union. The move follows recent reports that Aphria Inc (OTCMKTS:APHQF) has been setting up camp there as well. The game is on.

For Aurora’s part, the company just announced that, through its wholly-owned German subsidiary Pedanios GmbH, it has become the first licensed supplier of medical cannabis to patients in Malta. According to the release, “The import license issued by the Malta Medicines Authority was received on June 5, 2018, and Pedanios received the necessary export license from German authorities on June 21, 2018. After Germany and Italy, Malta is the third European Union member country where Pedanios currently sells medical cannabis.”

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 a 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 company has been expanding internationally along with several other larger players in the cannabis space. Getting a foothold in Malta is likely more important than it might seem at first given the ordination of the process of legalization in the EU.

The chart shows 18% added to share values of the listing over the past month of action. In addition, the listing has registered increased average transaction volume recently, with the past month seeing 74% over what the stock has registered over the longer term.

Mario Reichenbach, Head of Business Development at Pedanios added, “Pedanios is focused on improving patient welfare through the delivery of high-quality medical products, and we’re very proud to now extend our reach to the citizens of Malta. This is a significant milestone for Maltese patients who have been waiting for medical cannabis to become available in their country. Our success was driven by the professionalism of our local partner, Cherubino, the commitment of the Maltese government to implement a legislative framework to support its citizens, and the hard work of our European team. Our relationship with Cherubino will continue to develop, as we intend to provide ongoing support for education of Maltese physicians about the benefits, risks and side effects that may apply with respect to the use of medical cannabis in the management of symptoms associated with a range of chronic health conditions.”

Earning a current market cap value of $4.22B, ACBFF has a significant war chest ($231M) of cash on the books, which stands against about $2.6M in total current liabilities. One should also note that debt has been growing over recent quarters. ACBFF is pulling in trailing 12-month revenues of $42M. In addition, the company is seeing major top-line growth, with y/y quarterly revenues growing at 211.1%. 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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