Aurora Cannabis Inc (CVE:ACB) shares have been listed on the OTCQX platform under the ticker ‘ACBFF’. The management expressed their delight as the company became the first ever Canadian legal producer to upgrade its shares on the OTCQX platform. This is clear indication of the considerable progress that the company has been achieving being a public entity as well as an operator.
Getting listed on the OTCQX platform will have a positive impact on investor audience in the U.S., following stringent corporate governance guidelines. This is a strategic development which shows company’s intent to engage on an extensive basis with U.S. investor base.
Street analysts expect the cash position of Aurora Cannabis to come around $185 million by the end of this month, after the closure of its convertible debenture offering reported earlier this month. The cash position along with its strategic plans to outpace industry leaders, this year is expected to an extremely busy year for the company’s management team.
Aurora can come up with several press releases in the coming month. It is completing its greenhouse manufacturing facility at Edmonton Airport and turning operational another production facility in Quebec which was obtained via acquisition of Peloton Pharmaceuticals Inc. Around $6 million has been committed to the IPO of Cann Group Limited in Australia. The new debenture funds are expected to be used for global expansion and growth opportunities.
Aurora has been tied up in so many deals, including raising funds and acquisitions, that stock price has been in nearly constant lockdown for directors and officers for the last year. Shares have surged considerably and a recent window began for directors and officers to sell.
On Monday, the shares price of Aurora dropped less than 1% to close the day at $2.76. The decline came at a share volume of 2.21 million compared to average share volume of 4.11 million.
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