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Why the Latest Move for Aurora Cannabis Inc (OTCMKTS:ACBFF) Could be One of Its Most Interesting

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As we noted in our last piece on Aurora Cannabis Inc (OTCMKTS:ACBFF), the stock has been running headlong into staunch technical resistance. But traders and investors should bear in mind that this has unquestionably been the most aggressive market share expansion story in the North American cannabis space over the past 2 years – a fact which should be of extraordinary importance as that same continent prepares to head into unprecedented market expansion in a matter of just weeks.

As if to further drive this very point home, the company just announced that it has entered into a definitive arrangement agreement with ICC Labs Inc. (TSX-V: ICC) to acquire ICC for $1.95 per share, reflecting an aggregate purchase price of approximately $290 million. The deal is a clear move to establish a hub for expansion in South America.

Aurora Cannabis Inc (OTCMKTS:ACBFF) bills itself as 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 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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“ICC is an ideal partner for Aurora to establish leadership in the South American cannabis market, delivering clear first mover advantage on a continent with over 420 million people,” said Terry Booth, CEO of Aurora. “ICC and its management team have shown exceptional vision and execution across production, expansion, distribution and product development. The company has a very strong management team with deep connections throughout the continent, which we believe will facilitate successful expansion into all South American markets.”

The stock has registered increased average transaction volume recently as attention balloons in front of Canadian adult-use market open next month, with the past 30 days seeing just under 120% above its longer-run average levels.

Neil Belot, Chief Global Business Development Officer, added “ICC, as the first company globally to be federally legalized for the sale of cannabis for adult consumer use, is a trailblazer in, and has set the example for the responsible production and distribution to this exciting market. The ICC/Aurora combination is the trusted partner for governments and other stakeholders to develop opportunities in emerging South American cannabis markets. We are extremely excited to be working with Alejandro and the team at ICC, and look forward to jointly pursuing a wide variety of opportunities in the adult consumer use, medical and CBD wellness markets.”

At this time, carrying a capital value in the market of $6.03B, ACBFF has a significant war chest ($231M) of cash on the books, which must be weighed relative to about $56.1M in total current liabilities. 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%. 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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