Aurora Cannabis on Monday made it public that it intends to list its shares on a senior stock exchange in the U.S like the New York Stock Exchange (NYSE) or the Nasdaq. The Canadian marijuana company hopes to win potential investors in America as excitement for pot stocks continues gaining momentum.
“Listing our shares on a senior U.S. exchange reflects the level of corporate and business maturity and our high-paced execution. This listing provides access to a broader investor audience who gain the opportunity to participate in our continued success,” said Terry Booth, the Chief Executive Officer of Aurora Cannabis.
A listing date will be announced upon meeting all the requirements of the U.S. Securities and Exchange Commission. Shares of the company are currently listed in Canada on the Toronto Stock Exchange (TSE) under “ACB” symbol.
Investors also trade illiquid Aurora Cannabis shares on the over-the-counter (OTC) market in the US. The stock trades under the “ACBFF” symbol on the OTC market and has rallied more than 1,000% in the last two months.
The company also reported its financial results for the fourth-quarter and fiscal year to June 30, 2018. During the quarter, Aurora Cannabis produced a total of 2,212 kilograms of marijuana and sold 1,617 kilograms, up from 755 kilograms a year earlier.
Active registered patient numbers grew to 43,308 during the quarter, up from 16,400 in the prior-year period. Aurora managed to lock in revenues of C$19.1 million during the quarter, which represents a growth of 223% from C$5.9 million in the year-ago period.
Net income attributable to shareholders was C$79.9 million, compared with a net loss of C$4.8 million in fourth quarter of the previous year. Gross profit jumped to C$20.6 million, compared to C$5.8 million reported in the year-ago period.
Full-year revenue was $55.2 million, up from $18.1 million the previous year. Net income was $71.9 million, compared with a $13-million loss in fiscal 2017.
Mr. Booth had this say to say on the results, “Aurora made substantial progress toward our strategic goal of becoming the global scale and margin leader in the cannabis industry, establishing a vertically integrated company with a broadly diversified product offering with a large global footprint,” said Terry Booth, CEO of Aurora. “Our high-pace, consistent execution has enabled us to complete a number of transformative acquisitions, bringing together industry-leading companies in terms of scale, quality, efficiencies, plant and medical science, product development and innovation, brands, and international distribution.”
Aurora Cannabis Company Profile
Aurora Cannabis Inc is a Canada-based company engaged in the production and distribution of medical cannabis. The Company is vertically integrated and horizontally diversified across every key segment of the value chain, from facility engineering and design to cannabis breeding and genetics research, cannabis and hemp production, derivatives, home cultivation, wholesale and retail distribution.
The Company’s purpose-built facilities, which integrate technologies across all processes, are defined by automation and customization. The Company has a funded capacity of more than 570,000 kilograms per year, as well as sales and operations in more than 10 countries worldwide. – Reuters
