AURORA CANNABIS IN COM NPV(OTCMKTS:ACBFF) has been moving up steadily since the post-election shakedown to the $1.50 range. The stock was trading as high as $2.96 leading up to the elections.
ACBFF operates in the red hot Marijuana industry that has quickly turned into a multi-billion dollar massive growth market that is sweeping across the Country with many new states legalizing the drug including California, Nevada, Maine, and Massachusetts on November 8. Medical MJ products in the U.S. alone are projected to generate up to $35 Billion by 2020.
AURORA CANNABIS IN COM NPV(OTCMKTS:ACBFF) wholly-owned subsidiary, Aurora Cannabis Enterprises Inc., is a licensed producer of medical marijuana pursuant to the Marihuana for Medical Purposes Regulations and operates a 55,200 square foot, expandable, state-of-the-art production facility in Mountain View County, Alberta, Canada. Aurora trades on the Canadian Securities Exchange under the symbol “ACB”.
Aurora’s business strategy is to continue and accelerate its penetration of the Canadian cannabis market, achieve its Health Canada sales license for derivative products (cannabis oils) and launch derivatives sales, transition to profitability in the short-term, and begin a major expansion of production capacity. When the federal government passes legislation legalizing the consumer use of cannabis, the Company anticipates participating in the non-medical consumer market, and will envision further production capacity expansion to meet future market demand for cannabis products.
In May ACBFF announced financial results for the three and nine month periods ending March 31, 2016, the Company recorded revenues of $0.2 million, as compared to $nil for the comparable periods in the prior year. The Company commenced commercial sales in January 2016, and has experienced exceptionally strong traction in signing up and maintaining new patients. From the end of the period under review and the date of this release, Aurora has more than tripled its registered customer base.
ACBFF big break came last November after the Company was officially issued its license to sell. The Company is one of of 26 licensed producers across Canada and the only one located in Alberta.
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In May ACBFF announced they have exceeded 3,000 active registered patients over the first five months since commencement of product sales on January 5, 2016. Management believes this is the fastest organic rate of growth in patient registration that any Licensed Producer has achieved, and will help the Company towards reaching profitability in record time.
“Aurora’s pace of patient acquisition is unprecedented in the industry, and has exceeded our expectations,” said Terry Booth, CEO. “We had optimistically planned for this high rate of growth, and I’m proud that our cannabis production and inventory, as well as our customer care team, continue to manage this increasing demand very well. Our customer retention rate thus far exceeds 90%, and we will continue to be diligent in ensuring that we onboard patients at a pace we can accommodate as we continue to scale up. At the same time, we will ensure our patients remain completely satisfied with Aurora’s medical cannabis and their overall customer care experience is aligned with the Aurora Standard.”
On January 31 ACBFF and Radient Technologies (“Radient”) (RTI) are pleased to provide an update on their previously announced collaboration arrangements. The parties have entered into a memorandum of understanding (“MOU”) to evaluate an exclusive partnership for the Canadian market with regard to the joint development and commercialization of superior and standardized cannabinoid extracts.
In accordance with the memorandum of understanding (“MOU”), the parties, on January 4, 2017, entered into a joint venture research agreement pursuant to which Radient and Aurora are working to confirm the effectiveness of Radient’s MAP™ technology for cannabis extraction. Initial work under the study is ongoing.
As part of the MOU, Aurora will, subject to certain conditions precedent being satisfied, invest up to $2 million into Radient by means of a convertible debenture (the “Debenture”). The Debenture will have a term of 2 years, bear interest at 10% per annum and will be convertible into units (each, a “Unit”) of Radient at a conversion price of $0.14 per Unit.
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Currently trading at a $474 million market valuation ACBFF is one exciting story operating in the legal Marijuana space. The Company is arguably the lowest cost-per-gram licensed producer in Canada with the most technologically advanced facility in Canada. ACBFF is led by Terry Booth, the youngest master electrician on record in Alberta (at 22) and is perfectly positioned to be a leader in the booming Canadian marijuana industry. We will be updating on ACBFF when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with ACBFF.
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Disclosure: we hold no position in ACBFF either long or short and we have not been compensated for this article.