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.
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.
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