U.S. markets closed

Aurora Founder, Former CEO Terry Booth To Sell 12.16M Shares

Nina Zdinjak

Aurora Cannabis Inc. (NYSE: ACB) announced Monday that founder and former CEO Terry Booth has disclosed the sale of around 12.16 million shares of the company.

The sale of Aurora’s shares is linked with Booth’s resignation from the position of CEO last month, the cannabis company said.

"The board and management remain focused on the plan we laid out in February and we are progressing as planned toward appropriate capital allocation, balance sheet strength, and profitability. We look forward to updating the markets on our next quarterly earnings call,” Executive Chairman and Interim CEO Michael Singer said in a statement.

Aurora’s shares were trading 5.42% lower at 73 cents per share during Monday’s pre-market session.

Related Links:

Why Restructuring Efforts Don't Necessarily Signal The End Of A Cannabis Company's Downturn

Aurora Cannabis Analyst Sees Power In Restructuring, Still Projects Stock Volatility

Photo courtesy of Aurora. 

See more from Benzinga

© 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.