Aurora Cannabis Inc (OTCMKTS:ACBFF) reported that as of the close at December 31, 2017, its cash plus marketable securities surpassed $500 million. The firm’s cash position continues to be above $320 million. The total value of company’s investments in Radient Technologies, Hempco Food and Fiber and Cann Group of Australia as of now stands at $179.2 million. The latter number exhibits a return of 342%, depending on original investments of $40.5 million, robustly validating the firm’s partnership and strategic investment strategy. The company starts 2018 with remarkable financial strength to boost its aggressive international and domestic expansion strategy.
For the month of November, Aurora announced that net cannabis revenues came at $3.1 million, depending on sales of 354,000 grams’/gram equivalents in Canada and via the firm’s wholly owned German subsidiary unit Pedanios. This unit posted a new monthly milestone for weight of product offered of 74,000 grams in November 2017. Pedanios, located in Berlin, is the major distributor of medicinal cannabis in the EU, supplying a group of pharmacies that has increased from 750 when Pedanios was bought by Aurora Cannabis in May 2017, to over 2,000 today.
The initial two growing bays, and the mother bay at firm’s Aurora Sky, Aurora Cannabis’ fully capitalized 800,000 sq. ft. high-technology cultivation facility based at Edmonton International Airport, is completed and all set to receive plants. The company has requested Health Canada for licensing and final inspection, subsequent to which genetics transfer will begin. Aurora Cannabis expects first harvest in the second quarter of 2018.
Moreover, the steel structure of around 700,000 sq. ft. of Aurora Sky has been made, with specialty glass installed on over 400,000 square feet of the respective, and work on the interior is going on rapidly. Completion of this facility is on schedule for mid-2018.