aurora cannabis

Canadian cannabis firms burn through cash amid ‘unmitigated retail disaster’

Cannabis producers in Canada with fewer than six months of cash on hand may have to rethink planned facility expansions if revenues continue to come in lower than expected, according to an analyst. Greg McLeish of Mackie Research reviewed financial statements of 50 publicly traded cannabis companies. He found that 21 have fewer than six […]

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Reports: Former cannabis heavyweight Tikun Olam to sell Israeli assets for $42 million

Tikun Olam, once one of the world’s leading medical cannabis companies, is selling its domestic assets for $42 million – or about half of its asking price of $100 million – according to Israeli media reports. Cannbit Pharmaceuticals has reportedly agreed to buy Tikun Olam’s operations in Israel. Rivals Bazelet Group and InterCure were also […]

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Aurora plots ‘significant’ US marijuana entry in ‘very short period’

Canada’s largest medical cannabis company by revenue and production is planning to make a “significant” splash in the near future on another point of entry in the U.S. market, one of the company’s executives said in an interview. Aurora, based in Edmonton, Alberta, already has arms-length involvement in the United States through Australis Capital, a […]

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Aurora Cannabis reports revenue of CA$99 million, a 418% jump

Alberta-based Aurora Cannabis reported net revenue of 99 million Canadian dollars ($75 million) in its most recent quarter, a 418% increase from CA$19 million in the same quarter last year. However,  international sales amounted to only CA$4 million in Aurora’s fiscal fourth quarter, which ended June 30. Aurora saw improvements across the board in its […]

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Aurora Cannabis closes new loan deal worth as much as CA$200 million

Alberta-based Aurora Cannabis closed an expansion of a loan deal with three of Canada’s biggest banks, making it among the largest nonconvertible debt facilities in the marijuana industry to date, according to analysts. Aurora said it closed term loans worth an additional 160 million Canadian dollars ($120 million) with a syndicate of lenders led by […]

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Aurora Cannabis sells remaining stake in Green Organic Dutchman

Aurora Cannabis, one of Canada’s largest marijuana companies, sold its remaining stake in Toronto-based The Green Organic Dutchman for 86.5 million Canadian dollars ($64.9 million). The sale, which gave Aurora an approximate return of 50% on its initial investment, involved 28.8 million shares, or about 10.5% of The Green Organic Dutchman (TGOD). Though Aurora no […]

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Cannabis firm Atlas expands to Denmark, plans large indoor production

Edmonton, Alberta-based Atlas Biotechnologies is expanding to Denmark, where the Canadian producer plans to repurpose a sprawling indoor mushroom farm for medical cannabis cultivation. The initiative, expected to cost 40 million-50 million Canadian dollars ($27 million-$37 million), aims to be fully operational by the end of 2020. Atlas follows in the footsteps of Canada-based international […]

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Aurora sole winner of Italian medical cannabis tender, but average price is low by most standards

Aurora Deutschland – the German subsidiary of Alberta-based Aurora Cannabis – won all three “lots” to supply Italy with a total of 400 kilograms (880 pounds) of medical marijuana over two years, the Italian government announced. But the award may come at a cost for the Canadian company: The average price it offered – 1.73 euros […]

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Italy opens application process to import 400 kilograms of medical cannabis

The Italian government plans to import 400 kilograms of medical cannabis over two years and has opened the bidding process to companies that want to supply Europe’s second-largest market. The Italian Ministry of Defense – through its office of Stabilimento Chimico Farmaceutico Militare (SCFM) – published the details of the application process for the tender. Applications must […]

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Aurora, Canopy are Canada’s ‘most reputable’ cannabis firms, survey finds; others rank far behind

Alberta-based Aurora Cannabis edged out Ontario’s Canopy Growth as the most reputable marijuana company in Canada, according to a first-of-its-kind survey by market research firm Leger. The survey – conducted from December 2018 to February 2019 – reflects the reputations of cannabis producers in the opening innings of legalization. The marijuana companies were included as […]

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