AURORA CANNABIS IN COM NPV (OTCMKTS:ACBFF) is a leading player in the booming Canadian cannabis production segment. The company has been reliably in the upper echelon in the space in terms of balance sheet and revenue growth, and the stock has recently caught a bit of an upside bid on Monday’s rumors suggesting Canada will legalize pot by July 1, 2017. Aside from that, one might also note recent headlines showing an effort by the company to build out the brain trust with a pair of recent announcements touting the addition of a new global biz-dev officer and a new medical director.
First, the company announced that Neil Belot was promoted to Chief Global Business Development Officer. Two days later, we got the appointment of Dr. Barry Waisglass as Medical Director. Mr. Belot is listed as a promotion, but he was already in the C-suite as Chief Brand Officer at Aurora since 2015, pre-sales license, with operational oversight of brand, sales, marketing, client care, and digital technology. According to the company’s release, he will focus on developing business opportunities that drive the Company’s international growth going forward.
AURORA CANNABIS IN COM NPV (OTCMKTS:ACBFF) bills itself as a licensed producer of medical marijuana pursuant to the Marijuana for Medical Purposes Regulations and operates a 55,200 square foot expandable state-of-the-art production facility in Alberta, Canada.
Aurora’s wholly-owned subsidiary, Australis Capital Inc., seeks to be an active participant in the U.S. Cannabis market. Aurora is trading on the Canadian Securities Exchange under the trading symbol “ACB”.
The company is headquartered in Vancouver, Canada.
According to the company’s materials, “Aurora’s wholly-owned subsidiary, Aurora Cannabis Enterprises Inc., is a licensed producer of medical cannabis pursuant to Health Canada’s Access to Cannabis for Medical Purposes Regulations (ACMPR) and operates a 55,200 square foot, expandable, state-of-the-art production facility in Mountain View County, Alberta, Canada. Aurora trades on the TSX Venture Exchange under the symbol “ACB”.”
Find out when $ACBFF stock reaches critical levels. Subscribe to OracleDispatch.com Right Now by entering your Email in the box below.
As we have noted of late, it may be increasingly important for major producers to incorporate a narrative of diversification. The translation of that idea is to get far removed from the perception of being a basic commodity producer. The additions of a biz-dev leader and a new medical director are clear steps in that direction.
As for the company’s choice in its new medical director, Dr. Waisglass is noted as a general practitioner in Canada, and is described as “one of Canada’s most experienced physicians in the clinical use of medical cannabis and cannabinoids.”
The company notes that he will be tasked to advise the Company with respect to emerging issues and opportunities with respect to medical cannabis, “representing Aurora at Canadian and global medical and cannabis conferences, liaising with medical associations and colleges, participating in the development of new products and new delivery mechanisms, as well as supporting the Company’s international market development initiatives.”
“Barry is an important, strategic, and timely addition, as we expand our operations in Canada and internationally, and we are delighted that he is joining the Aurora team,” said Terry Booth , CEO. “He is a deeply respected and widely-consulted clinical expert in the use of cannabis as medicine, and brings invaluable new insights and capabilities to our Company’s exceptional management team.”
Recent action has seen 11% added to share values of the stock over the past week of action. The situation may be worth watching. ACBFF has a track record that includes a number of dramatic bounces. Moreover, the stock has seen an influx in interest of late, with the stock’s recent average trading volume running 15% over what the stock has registered over the longer term.
Earning a current market cap value of $604.2M, AURORA CANNABIS has a significant war chest ($14.8M) of cash on the books, which stands against about $1.7M in total current liabilities. ACBFF is pulling in trailing 12-month revenues of $8.4M. In addition, the company is seeing recent top line growth, with sequential quarterly revenues growing at 26.5%. You can bet we will update this one again as new information comes into view. For continuing coverage on shares of $ACBFF stock, as well as our other hot stock picks, sign up for our free newsletter today and get our next hot stock pick!
