Aurora Cannabis Announces Sales License, First Harvest

It seems a day doesn’t go by without Aurora Cannabis Inc.  (ACBFF) making some sort of news. Even on a slow (American) holiday week, the company gave several updates on different pieces of the company.

Capsule Business

The Aurora Vie production facility in Point-Claire Quebec got its sales license from Health Canada. The company said that this facility is on target to produce high-quality cannabis at a rate of 4,000 kg per year y October 2018 and that multiple harvests have been completed to date. Aurora has also modified the facility to produce softgel products. Its partner Capcium, is now installing equipment to commence high-volume production of these cannabis softgels.

Aurora also gave an update on the CanniMed company it acquired. The integration of the two companies is now complete. It also said that CanniMed has received Health Canada approval to begin sales of the vegan CanniMed Capsules. Each capsule contains a balanced dose of THC and CBD and a high CBD capsule is also under development. Consumers are gravitating towards capsules for their precision dosing.

In addition, Aurora has received its Health Canada license for the production of encapsulated oil for its Mountain facility. The company statement said that it will be producing unique, integral hard shells for the medical markets, as well as for the adult consumer use market, once legalized.

Aurora Sky

The Aurora Sky facility near the Edmonton airport is on track for full operation in the late summer. This facilities first harvest was completed on June 28, 2018, and the second harvest planned within the next two weeks. Aurora said that it plans to request a Health Canada inspection towards receiving a sales license for the facility. With a total footprint exceeding 800,000 sq. ft., Aurora Sky is expected to produce more than 100,000 kg per year of high-quality cannabis.

Aurora Sun

The ground has been broken for construction and excavation is 75% complete at the Aurora Sun production facility in Medicine Hat, Alberta. Aurora said that the considerable experience gained through the construction of Aurora Sky, the acquisition of Larssen Ltd. and the establishment of facility design and engineering division Aurora Larssen Projects Inc., as well as the business-friendly climate in Medicine Hat are anticipated to expedite completion of the Aurora Sun project. Aurora Sun is currently slated to be 50% larger than Aurora Sky, at 1.2 million sq. ft., and to produce more than 150,000 kg of high-quality cannabis per year.

Stock Performance

The OTC Markets stock was lately trading at $7.22, down from its 52-week high of $12.30, but above the year’s low of $1.60.

Debra Borchardt

Debra Borchardt is the Co-Founder, and Executive Editor of GMR. She has covered the cannabis industry for several years at Forbes, Seeking Alpha and TheStreet. Prior to becoming a financial journalist, Debra was a Vice President at Bear Stearns where she held a Series 7 and Registered Investment Advisor license. Debra has a Master's degree in Business Journalism from New York University.

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