AURORA CANNABIS IN COM NPV (OTCMKTS:ACBFF) has had a steady week of positive gains. ACBFF was up around 9% last week, and looks primed to take another leap upward.
ACBFF has seen a spectacular rise trading below the $0.25 mark back in 2015 and now known as a trusted leader in the sector. 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. One driver for the company’s growth has been its deal with Radient Technologies. A extraction technology company that could be the link that turns Aurora Cannabis into a CBD oil giant.
AURORA CANNABIS IN COM NPV (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 (“ACMPR”). The Company operates a 55,200 square foot, state-of-the-art production 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 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 (“EU”), based in Germany.”
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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.”
Overalll, ACBFF is currently trading in an uptrend as investor confidence on the stock continues to increase following successive quarters of sales growth. The stock is trading in a tight $2.20 – $2.25 trading range and has a 52-week high of $2.96 a share.
Also, ACBFF reported impressive fourth-quarter earnings highlighted by a 391% growth in revenues that came in at $5.9 million compared to $1.2 million reported last year. Revenue for the full year was up by 1,155% to $14.6 million.
The revenue increase underscores the growth in the company’s footprint in the Canadian legal cannabis business. The company also experienced a huge increase in the number of registered patients for its products in the year, which led to the breathtaking sales growth.
Currently trading at a market capitalization of $868.31M, ACBFF has a significant war chest ($159.8M) of cash on the books, which compares with virtually no total current liabilities. The company is must-know Canadian cannabis stock and we will look forward to updating it again soon. 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.