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EDMONTON , July 18, 2018 /CNW/ - Aurora Cannabis Inc. (ACB.TO) (ACBFF) ( Frankfurt : 21P;WKN:A1C4WM) ("Aurora" or the "Company") announces it has received shareholder approval at a special meeting, held today, for the issuance of shares in consideration for the planned acquisition of MedReleaf Corp. ("MedReleaf"), a well-known Canadian Licensed Producer based in Markham, Ontario that delivers premium medical cannabis products to domestic and global markets, and compelling brands to the adult-use recreational market. Low production costs and industry-leading yields: Aurora's automated 'Sky Class' greenhouses are expected to deliver industry-leading efficiencies and ultra-low production costs of well below $1 per gram, delivering sustainably robust margins. International distribution: Aurora has established a strong and rapidly growing footprint in the international medical market.
High Hampton Engages Leading Global Greenhouse Design Firm Aurora Larssen Projects Inc. for Design and Support of CoachellaGro Cannabis Cultivation Facility
WKN: A1C4WM) announced today that it has reached an agreement with Shopify Inc. ("Shopify"), one of the world's leading multi-channel, online commerce companies, to leverage the Shopify platform as Aurora's ecommerce engine for medical and recreational cannabis distribution globally. Working closely with Aurora Cannabis' industry-leading software engineering team, Shopify will assist in transitioning Aurora's current ecommerce site to a new, Shopify-developed platform, improving the customer experience for Aurora's current medical and future adult consumer use customers.
Canadian company Aurora Cannabis Inc. (OTC: ACBFF ) on Wednesday signed a binding agreement to acquire CannaRoyalty's exclusive license to Wagner Dima's innovative cannabis preroll technology. What Happened ...
British Columbia’s Liquor Distribution Branch released its list of 31 suppliers that are to provide cannabis to the province for non-medical use. The notable companies that signed memoranda of understanding with the Liquor Distribution Branch to supply cannabis include Canopy Growth (CGC)(WEED), Aurora Cannabis (ACB)(ACBFF), MedReleaf (MEDFF), and Aphria (APHQF). Compared to other Canadian provinces that announced their lists of suppliers, British Columbia has one of the most diversified lists (HMMJ), which should give a wide range of diversity to the province.
Several micro-cap and private companies in Canada have raised millions this week to boost their cannabis businesses as the industry scales up. The transactions come as Canada prepares for the start in mid-October of legal adult use of recreational marijuana. Market participants told Real Money the flurry of deals fits Canada's tradition of financing emerging businesses through small-cap stock, reverse merger listings and private placements.
It's possible that four growers could control 60% of all Canadian marijuana production by the turn of the decade.
On July 11, Aurora Cannabis (ACB) (ACBFF) announced it had established an agreement with Evio Beauty Group to develop cosmetic products that are hemp-based and CBD-based. According to the press release, the CBD-based products will be infused with CBD (a cannabis compound), while the hemp-based products will be non-infused cosmetic products.
On July 10, Canopy Growth (WEED) (CGC) entered into an agreement to acquire Hiku Brands. Following the news, Canaccord Genuity raised Canopy Growth’s target price to $34 from the previous target of $32. Canaccord Genuity thinks that the Hiku Brands acquisition will help Canopy Growth enhance its retail presence in western Canada.
Aurora Cannabis (ACB) (ACBFF) has made a move to grab the pre-roll cannabis market segment. The company announced on July 11 that it entered a joint partnership with Wagner Dimas through a cash and share transaction contingent on milestone achievement. Under this partnership, a new Canadian company will be formed to which Wagner Dimas will assign its intellectual property.
In the earlier parts of this series, we discussed EV-to-sales valuation multiples for some of the cannabis stocks (SEED). However, to get a better understanding of whether the cannabis sector is in the overbought or oversold territory, we’ll look at more than one valuation multiple. In this article, we’ll discuss how the EV-to-EBITDA (enterprise value to earnings before interest, tax, depreciation, and amortization) has changed over the last month.
In the earlier part of this series, we discussed that the overall cannabis sector’s forward EV-to-sales (enterprise value to sales) trended lower in the last month. In this part, we’ll look at the cannabis companies’ (HMLSF) valuation multiple compared to the median of 9.3x.
When's the Right Time to Jump into Cannabis Stocks? Finding the right time to invest in the cannabis sector can be challenging. There are challenges to understanding the valuation trend for this sector.
On July 10, Canopy Growth (WEED) (CGC) announced that it had entered an agreement to acquire Hiku Brands Company (HIKU). According to the press release, Canopy Growth paid a ~33% premium above Hiku Brands’ 20-day VWAP (volume weighted average price) as of closing on July 9.
WKN: A1C4WM) announced today that the Company has entered into an agreement with Wagner Dimas Inc. ("Wagner Dimas") the transaction includes cash and the issuance of common shares of Aurora relative to the achievement of certain milestones for the joint commercialization of Wagner Dimas's technology. This technology targets the high-volume, higher-margin pre-rolled segment of the cannabis market. Under the terms of the agreement, Aurora and Wagner Dimas will form a new Canadian entity to which Wagner Dimas has agreed to assign intellectual property with exclusive rights to Aurora.
WKN: A1C4WM) announced today that it has established a partnership agreement ("the Agreement") with Evio Beauty Group Ltd. ("Evio Beauty") pursuant to which Aurora has made a strategic investment in Evio Beauty. Under the terms of the Agreement, Aurora and Evio Beauty Group will collaborate to develop a line of co-branded hemp seed oil cosmetic products ("Non-Infused Products") as well as a collection of CBD infused cosmetic products ("Infused Products").
WKN: A1C4WM) and CannaRoyalty Corp. (CRZ.CN) (CNNRF) ("CannaRoyalty") (together the "Companies") today announced that the Companies have signed a binding term sheet (the "Agreement") whereby Aurora is purchasing CannaRoyalty's exclusive Canadian license to use and commercialize pre-roll technology developed by Wagner Dimas for an aggregate consideration of C$7 million in Aurora common shares (the "Purchase Price"). "Pre-rolls are a rapidly growing, in-demand segment of the international cannabis market and the Wagner Dimas's technology has substantial competitive advantages over peers in terms of throughput, quality and diversity," said Terry Booth , CEO of Aurora.
company to replace Robert Anderson as CEO because of his undisclosed illness. Investors bid down the stock by about 5% to C$6.18 a share on July 3, after the company named Brian Athaide, formerly the CFO of the company, as CEO. Unlike other companies with sharp share drops after a CEO leaves, investors appear to have been relatively kind to The Green Organic Dutchman.
Tilray Inc., a Canadian cannabis cultivator backed by private equity firm Privateer Holdings, is expected to draw a warm reception in its stock market debut on the Nasdaq next week. The Nanaimo, British Columbia-based company plans to offer 9 million shares at an estimated range of $14 to $16 a share for trade on the Nasdaq under the symbol TLRY, according to a July 9 filing. Based at the midpoint of the range, Tilray will raise about $135 million in proceeds, not including an additional 1.35 million share overallotment that may be exercised by the underwriters of the deal.
A total of $1.2 billion in debt via 52 transactions was floated by public and private cannabis companies in the six months ended June 29, according to data from Viridian Capital Advisors, the New York-based cannabis-focused advisory and investment banking boutique. , which sold a whopping $460 million in convertible notes in a deal that closed on June 20. A spokesperson for the company did not comment on the company's debt offering, which was handled by Cowen and Co. and BMO Nesbitt Burns as joint bookrunning managers.
As the governments of individual provinces in Canada get ready for the first recreational cannabis sales in October 2018, the AGLC (Alberta Gaming, Liquor & Cannabis Commission) announced its list of producers that will supply cannabis to the province. Out of 31 applications, only 13 won bids to supply cannabis to the province of Alberta. While the Alberta Government news release didn’t specify how much it will receive annually, Canopy Growth (WEED)(CGC) announced that it will supply over 15,000 kilograms of cannabis to Alberta.