ACB was able to achieve a 63% adjusted gross profit from Canadian medical sales in the latest quarter.īelow, we can see a breakdown of their various business segments. That is a curious distinction considering that Canada has already legalized adult-use sales for many years, which has led to the medical market declining consistently ever since. ACB Stock Key MetricsĪCB differentiates itself as being the top operator in the Canadian medical market. The Canadian cannabis sector has long had a history of cash-guzzling operations coupled with the promise of improved margins, and ACB is an example of the associated destruction of shareholder capital. ACB remains committed to reducing its operating cost structure and achieving a positive adjusted EBITDA run-rate, but there remains the risk of disappointment and needing another capital raise. This recent fall occurred due to an expensive equity raise at the end of May. The magnitude of this recent crash is quite extreme, even considering its own history of stock price implosions. The cannabis sectors have been in a downtrend for quite a while, but ACB’s crash is something different. We understand the laws, regulations and business landscape of Canada’s cannabis industry, and provide clients with valuable legal solutions for financing, accessing public markets, licensing and regulation, employment law and workplace issues, mergers and acquisitions, tax structuring and intellectual property matters.Aurora Cannabis Inc. Our group is made up of experienced professionals with significant in-depth knowledge. As one of the largest groups of its kind in Canada, our Cannabis Practice Group works closely with a wide range of industry participants, including licensed producers, retailers, investors, technology and other service providers, to help them succeed in the cannabis industry. McMillan’s leading Cannabis Practice Group provides innovative and practical solutions to clients in the cannabis industry. McMillan acted as Canadian legal counsel to Aurora Cannabis with a team led by Cory Kent (Capital Markets) and included Marina Tran, Jason Haley (Capital Markets) and Peter Botz (Tax). Providing customers with innovative, high-quality cannabis products, Aurora’s brands continue to break through as industry leaders in the medical, performance, wellness and recreational markets wherever they are launched. The Company’s brand portfolio includes Aurora, Aurora Drift, San Rafael ‘71, Daily Special, AltaVie, MedReleaf, CanniMed, Whistler, and Reliva CBD. Headquartered in Edmonton, Alberta, Aurora is a pioneer in global cannabis dedicated to helping people improve their lives. and including CIBC World Markets Inc.Īurora Cannabis plans to use the net proceeds of the offering to fund growth opportunities, working capital, and other general corporate purposes.Īurora Cannabis is a global leader in the cannabis industry serving both the medical and consumer markets. The units were sold through a syndicate of underwriters led by Nesbitt Burns Inc. Each unit is comprised of one common share and one half of one common share purchase warrant. (TSX:ACB) (NYSE: ACB) completed a US$165 millionĬross-border offering of units pursuant to a supplement to its base shelf prospectus.
On November 16, 2020, Aurora Cannabis Inc. Municipal, Land Use Planning & Development.International Arbitration & Cross-Border Litigation.White Collar Defence, Fraud & Investigations.Structured Finance, Derivatives & Securitization.
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