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Thursday, January 27, 2022

Will Support Step in for Aurora Cannabis Inc (OTCMKTS:ACBFF)?

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With growth and strategic aggression in a high-ROI market segment working for them, traders will be actively looking for support to step in this week for Aurora Cannabis Inc (OTCMKTS:ACBFF). The company is sitting on over $230M in cash and growing at better than 200% on the top line. At the same time, these guys have been as aggressive as anyone in the space.

As a recent example, ACBFF, along with MedReleaf Corp. (TSX: LEAF), just announced the closing of the largest transaction ever in the cannabis space. According to the release, “Under the terms of the Arrangement Agreement, holders of MedReleaf common shares received 3.575 common shares of Aurora for each MedReleaf common share held. Upon closing of the transaction, Aurora will submit applications with the Toronto Stock Exchange and the Ontario Securities Commission to delist MedReleaf’s existing common shares and for MedReleaf to cease to be a reporting issuer, respectively.”

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 numbers add up well for Aurora, and the aggressive attitude on the M&A front is often something that the market eventually rewards when the larger business context defining the space is generally seen as offering a high rate of return on any given dollar invested.

“The closing of this transaction brings together two vertically integrated, successful pioneers in the cannabis industry, creating a company with more than 1,200 employees and a rapidly growing domestic and international footprint,” said Terry Booth, CEO of Aurora. “The combination of MedReleaf and Aurora creates a well-capitalized company positioned exceptionally well to generate further shareholder value, driven by the low-cost production of high-quality cannabis products. We will be applying our proven integration methodology, and will continue to execute to the Aurora Standard in capitalizing on the significant opportunities in the domestic and global cannabis industry.”

At this time, carrying a capital value in the market of $2.95B, ACBFF has a significant war chest ($231M) of cash on the books, which must be weighed relative to 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%. We will update the story again soon as further details emerge. 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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