Aurora Cannabis released a statement on Tuesday saying that it has applied for a listing on the New York Stock Exchange (NYSE). Shares of the Canadian medical cannabis company are expected to begin trading on the stock exchange by the end of October.
The shares will trade under “ACB” ticker symbol, the same symbol the company’s shares currently trade under on the Toronto Stock Exchange. Aurora will also continue to trade under the “ACBFF” ticker symbol on the over-the-counter exchange market in the US until completion of the NYSE listing.
Terry Booth, Chief Executive Officer of Aurora Cannabis, commented, “Through our NYSE listing, Aurora joins an established group of mature global brands with improved access and exposure to an engaged international institutional investor audience. Aurora’s high-paced execution has made it one of the world’s leading cannabis companies. We have grown from being a licensed producer with a single facility to a horizontality differentiated and vertically integrated global organization with a funded production capacity in excess of 500,000 kg a year, sales and operations on five continents, and a team of more than 1,500 employees.”
The company first announced its intention to list shares on a major U.S. exchange last month, in a move aimed at winning potential investors in the country as excitement for pot stocks continues to heat up. Canada is set to legalize recreational marijuana use on next week and investors are betting big on pot companies ahead of the date.
Aurora Cannabis is one of the largest cannabis companies in Canada behind Canopy Growth Corp. and Tilray Inc. Shares of Aurora Cannabis were up 3.79% to C$63.82 in Toronto, Canada at 1:30 p.m. on Tuesday.
Aurora Cannabis Inc. Company Profile
Aurora Cannabis Inc. produces and distributes medical cannabis products in Canada and internationally. It is vertically integrated and horizontally diversified across various segments of the cannabis value chain, from facility engineering and deign to cannabis breeding, genetics research, production, derivatives, high value-add product development, home cultivation, wholesale, and retail distribution.
The company’s products consist of dried cannabis and cannabis oil; CanniMed vegan capsules; and hemp products, as well as sells vaporizers, consumable vaporizer accessories, and herb mills for using herbal cannabis products. It also operates CanvasRX, a network of cannabis counseling and outreach centers; and provides cannabis analytical product testing services.
Aurora Cannabis Inc. has collaboration agreements with PharmaChoice, Pharmasave, and Shoppers Drug Mart for the distribution, sale, and marketing of medical cannabis products through their respective networks of pharmacies.
It has a strategic agreement with Hempco Food and Fiber Inc.; CTT Pharmaceuticals Inc.; Choom Holdings Inc.; Capcium Inc.; The Green Organic Dutchman Holdings Ltd.; Société des Alcools du Québec; and Alcanna, Radient Technologies, Micron Waste, Wagner Dimas, Evio, and Cann Group Limited. Aurora Cannabis Inc. is headquartered in Edmonton, Canada. – Bloomberg