Sep. 26, 2017 09:10AM PSTCannabis Investing News
Aurora Cannabis announced its financial and operational results for the fourth quarter and full fiscal year.
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.
acquisitionaurora cannabisaustraliaeugermanyipolegislationoilsoperational highlightspatientCannabis Investing