AURORA CANNABIS IN COM NPV(OTCMKTS:ACBFF) has been on a steady rise in recent months since a brief dip below the $1.50 mark back in June. ACBFF 52 high and price to beat is $2.96 a share. The stock has been on the move since the $0.30s in August 2016.
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.
To Find out the inside Scoop on ACBFF Subscribe to Microcapdaily.com Right Now by entering your Email in the box below
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 July 31 ACBFF announced further to the Companies’ press release of June 8, 2017, as well as Hempco’s press releases of June 16 and June 23, 2017, the companies have agreed to amended terms whereby Aurora will make a strategic investment in Hempco for an ownership stake of up to 19.9% on a fully diluted basis, subject to applicable regulatory approvals.
Additionally, subject to customary conditions including Hempco shareholder approval and the negotiation and execution of an option agreement, Aurora will be granted an option to acquire certain shares from the majority owners of Hempco, which, upon exercise, would bring Aurora’s total ownership interest in Hempco to 50.1% on a fully diluted basis (the “Option”). If Aurora elects to exercise this Option, the shares will be acquired in tranches, the pricing of which is contingent on certain performance milestones of Hempco.
We have a Monster Pick Coming. Subscribe Right Now!
Currently trading at a $740 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.
Sign Up now for our 100% FREE Penny Stock Newsletter
Disclosure: we hold no position in ACBFF either long or short and we have not been compensated for this article.