Aurora Cannabis Inc. (TSX:ACB), one of the Canadian marijuana stocks, said it has received licenses for its Aurora Sky and MedReleaf Bradford facilities
SmallCapPower | February 27, 2019: Aurora Cannabis Inc. (TSX:ACB), one of the Canadian cannabis stocks, Monday announced that its Aurora Sky and MedReleaf Bradford facilities received licenses from Health Canada for the production and sale of cannabis and cannabis-derivative products.
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Aurora Sky, the Company’s first “Sky Class” 800,000 sq. ft. facility, delivers quality, consistent and cost-efficient cannabis with target production costs of below ~$1 per gram. Aurora Cannabis anticipates the facility to be fully planted by March 2019 and products will be available for sale by June 2019.
MedReleaf Bradford adheres to EU GMP specifications, featuring 17 independently climate-controlled grow rooms with production area of a 210,000 sq. ft. Currently, 13 flower rooms are in production serving recreational and medical markets. Aurora Cannabis expects the facility to be fully planted by early April 2019 with a production capacity of 28,000 kg of cannabis per annum.
Aurora Cannabis CEO Terry Booth stated, “The rapid scale-up of our production capacity – with our Sky and Bradford facilities specifically adding over 128,000 kg per year in capacity – is resulting in significant increases in product availability across our domestic medical and consumer, as well as our international market segments, over the coming months. Current production at Aurora Sky, with recent harvests exceeding target yields, validates our production philosophy and our investment in high-tech, highly automated facilities. MedReleaf Bradford employs best practices identified during the integration of the Aurora and MedReleaf organizations and is consistently delivering exceptional yields and high-quality product that has resonated well in both the medical and consumer markets.”
Aurora Cannabis recently reported second-quarter 2019 net revenue of $54.2 million, up 83% sequentially, and 363% year over year. Canadian consumer sales during the quarter were $21.6 million, while Canadian and international medical markets revenue came in at $26.0 million.
Headquartered in Edmonton, Alberta, Aurora Cannabis is one of the leading Canadian cannabis companies with sales and operations across five continents, and a funded capacity of over 500,000 kg per annum. The Company is vertically integrated and horizontally diversified across the cannabis value chain. Currently, Aurora Cannabis stock trades at market capitalization of C$10.2 billion with a price-to-book ratio of 2.2x.
Disclosure: Neither the author nor his family own shares in the company mentioned above.
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