Aurora Cannabis Inc. (TSX:ACB) (OTC:ACBFF) (FRA:21P) today announced their financial and operational results for the fourth quarter and full financial year ended June 30, 2017.
Q4 2017 Financial and Operational Highlights
Recorded $5.9 million in revenues, reflecting growth in patient numbers and an increase in the average price per gram of product sold, which now includes high margin cannabis oils.
Continued to progress on schedule and on budget with the construction of the Company's Aurora Sky facility.
Completed the acquisition of Pedanios GmbH, Germany's largest distributor of cannabis. This acquisition provides access to the single largest federally-legal medical cannabis market in the world, as well as a gateway to the rapidly-developing EU market. Increasing momentum in the EU towards the adoption of medical cannabis legislation has the potential to create a market of several hundred million people.
Completed the acquisition of Peloton Pharmaceuticals, a 40,000 square foot facility, which Aurora currently is completing, with first harvest anticipated shortly after calendar-year end.
Completed its cornerstone investment in the IPO of Cann Group Limited, Australia's first licensed cannabis company, and now holds a 19.9% ownership stake.
Announced its intention to make a strategic investment in Hempco Food and Fiber Inc., providing further product differentiation and access to a potential source of low-cost raw CBD material for extraction.
Reported positive results on its research joint venture with Radient Technologies Inc. ("Radient") on the use of Radient's innovative, proprietary technology for the extraction of cannabinoids from dried cannabis – validating the technology's high efficiency and significantly enhanced throughput compared to standard extraction technologies.
Strengthened its senior management team with the appointments of Allan Cleiren as COO, Glen Ibbott as CFO, Debra Wilson, PhD as VP of Human Resources, and Andrea Paine as Director of Quebec Affairs.
Strengthened its balance sheet with $76.7 million in new financing
For the full release and financial results, click here.
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