AURORA CANNABIS IN COM NPV (OTCMKTS:ACBFF) dipped this week, but the company has still added around 30 cents in value for the year. As we stated this week, ACBFF has been catching money from the sky this week. The company announced a bought deal for $60M that was increased by the underwriters.
ACBFF has seen a spectacular rise over the past few years since trading below the $0.25 mark back in 2015 transforming into a volume leader and major mover. ACBFF is becoming a major player in the booming Marijuana industry that has quickly turned into a multi-billion dollar massive growth market that is sweeping across North America. In the US legal Marijuana sales grew by an unprecedented 30% in 2016 to $6.7 billion as the legal market expands in the U.S. and Canada, according to a new report by Arcview Market Research. North American sales are projected to top $20.2 billion by 2021 assuming a compound annual growth rate of 25%
AURORA CANNABIS IN COM NPV (OTCMKTS:ACBFF) is 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.
ACBFF’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 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”). The Company operates a 55,200 square foot, state-of-the-art production facility in Mountain View County, Alberta, is currently constructing a second 800,000 square foot production facility, known as “Aurora Sky”, at the Edmonton International Airport, and has acquired, and is undertaking completion of a third 40,000 square foot production facility in Pointe-Claire, Quebec, on Montreal’s West Island. In addition, the Company holds approximately 9.6% of the issued shares (12.9% on a fully-diluted basis) in leading extraction technology company Radient Technologies Inc., based in Edmonton, and is in the process of completing an investment in Edmonton-based Hempco Food and Fiber for an ownership stake of up to 50.1%. Furthermore, Aurora is the cornerstone investor with a 19.9% stake in Cann Group Limited, the first Australian company licensed to conduct research on and cultivate medical cannabis. Aurora also owns Pedanios, a leading wholesale importer, exporter, and distributor of medical cannabis in the European Union (“EU”), based in Germany.”
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Here is an interesting quote the from the recent press release regarding the bought deal: “If the Offering is subscribed for in full, it will provide Aurora with net proceeds of $6,000,000 due to the special and one-time commission free accommodation reached with its underwriters. The Common Shares and Warrants shall be subject to a 4 month hold period. Closing of the Offering is anticipated to occur at the same time as the closing of the Bought Deal, which is expected on or about November 2, 2017, and is subject to certain conditions, including, but not limited to, the receipt of all necessary regulatory and stock exchange approvals, including the approval of the Toronto Stock Exchange and the applicable securities regulatory authorities.”
ACBFF is coming to the close of the year with a lot of cash in hand. Canada is soon to be legalizing and their trajectory looks like it could do nothing but go up.
Currently trading at a market capitalization of $843.12M with 371.91M in outstanding shares. ACBFF is pulling in trailing 12-month revenues of $18.1M. In addition, the company is seeing major top-line growth, with y/y quarterly revenues growing at 386.5%. We like what the company has done this year and we expect big things on the horizon as Trudeau moves Canada into legalization. Sign-up for continuing coverage on shares of $ACBFF stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!
Disclosure: we hold no position in $ACBFF, either long or short, and we have not been compensated for this article.