AURORA CANNABIS IN COM NPV(OTCMKTS:ACBFF) has been moving up steadily again in recent weeks with an eye on $2.96 all time highs. Aurora Cabbabis has seen a spectacular rise over the past few years since trading below the $0.25 mark back in 2015 transforming into a volume leader and major mover.
ACBFF is becoming a major player in the booming Marijuana industry that has quickly turned into a multi-billion dollar massive growth market that is sweeping across North America. In the US legal Marijuana sales grew by an unprecedented 30% in 2016 to $6.7 billion as the legal market expands in the U.S. and Canada, according to a new report by Arcview Market Research. North American sales are projected to top $20.2 billion by 2021 assuming a compound annual growth rate of 25%. The report includes Canada for the first time as it moves towards implementing legal adult use marijuana.
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.
Earlier this year ACBFF announced progress on their memorandum of understanding (“MOU”) with Radient Technologies (“Radient”) (TSXV: RTI) pursuant to which Radient and Aurora are working to confirm the effectiveness of Radient’s MAPTM technology for cannabis extraction. Initial results from the first phase of the study are encouraging. As a result, the parties have agreed to move to the second phase of the project, which includes preliminary scale-up activities. The second phase of work under the study has commenced and is expected to take approximately eight weeks.
ACBFF CEO Terry Booth said “We are pleased with progress to date in assessing the feasibility of this potentially ground breaking extraction technology. The potential to substantially increase our extracts production capacity while maintaining terpene profiles would further differentiate our Company, and we are excited to be exploring this opportunity further in the coming weeks.”
Aurora completed its investment in the Radient convertible debenture which will have a principal amount of $2 million, a term of 2 years, bear interest at 10% per annum, and will be convertible into units of Radient at a conversion price of $0.14 per Unit. Each Unit will be comprised of one common share of Radient and one share warrant, exercisable within 24 months, for one common share of Radient at an exercise price of $0.33 per warrant. The Debenture will be repayable on demand from Aurora at any point within five months from the date of issuance.
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In June ACBFF announced Aurora will be making a strategic investment in Hempco for an ownership stake of up to 19.9% on a fully diluted basis, subject to Regulatory and Board approvals, as well as satisfactory completion of due diligence. Additionally, subject to customary conditions, Aurora will obtain an option to acquire shares from the majority owners of Hempco that, upon exercise of the option, will bring Aurora’s total ownership interest in Hempco to 50.1% on a fully diluted basis.
Hempco is one of the world’s largest industrial producers of hemp and hemp products, and currently offers three primary product lines: (1) bulk and packaged food products (e.g. hemp protein powder, hemp seeds or hearts, hemp oil etc.); (2) hemp fibre; and (3) nutraceuticals. Hempco’s line of packaged foods are sold under the brand “Planet Hemp” and are distributed globally in seven countries.
On October 5 ACBFF announced the Company will be launching its proprietary and patent-pending live plant transporter, the Aurora Envoy™ (“Envoy”). The Company filed its patent application on August 31, 2017, providing Aurora with the opportunity to pursue patent protection in over 150 countries. The Aurora Envoy™ possesses several novel and inventive features that promote the health, vigor and vegetative growth of live plant cuttings during shipment, leading to high transplant success rates and an exceptional customer experience.
Neil Belot, Chief Global Business Development Officer for Aurora, added, “Our team looked at all available options on the market. We were unable to find one that met the Aurora Standard, and consequently we developed our own. Following months of thorough testing and design iterations, we are proud to say that no other comparable product on the market today offers the same level of technological sophistication as the Aurora Envoy™. We employ one of the best and brightest industrial designers in this industry, and with the support of our exceptional team, we have once again set a new standard for the cannabis industry.”
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Currently trading at a $870 million market valuation ACBFF has been putting out some really impressive numbers reporting $111 million in the treasury and$5,175,304 in sales for the 3 months ended March 31, 2017 up from just $219,230 for the same period last year. ACBFF is also reporting a whopping $111,116,196 in cash in the treasury which really sets this company apart from its peers. Aurora Cannabis is quickly turning into a major playing in the legal Marijuana space; the Company operates a 55,200 square foot, state-of-the-art production facility in Mountain View County, Alberta, and 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 40,000 square foot production facility in Pointe-Claire, Quebec, on Montreal’s West Island. The Company is led by Terry Booth, the youngest master electrician on record in Alberta (at 22) with a number of huger new projects underway at Aurora 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.