Aurora Cannabis Inc (OTCMKTS:ACBFF) has been a consistent leadership play in the Canadian cannabis patch over the past 12-18 months. No one would dare argue otherwise. The stock has managed to hold its recent strong breakout gains in a lateral consolidation that has traced out a symmetrical triangle pattern on the chart since Thanksgiving. The consolidative pattern follows a powerful thrust higher that elevated shares by nearly 190% in just under three weeks. One of the primary qualities on display in that time is the company’s ability to continuously present one material catalyst after another.
As a case in point, Aurora just cut a deal with CannaRoyalty Corp. (OTCQX: CNNRF) this week, as the two companies announced that they have signed a binding Letter of Intent, giving Aurora the exclusive right for 90 days to negotiate a final licensing agreement related to exclusive rights to “the intellectual property, manufacturing procedures, and the sales and marketing rights related to a portfolio of specialty branded cannabis drug delivery technologies from the award-winning MüV brand” in Canada, Europe and Australia.
Aurora Cannabis Inc (OTCMKTS:ACBFF) is a licensed producer of medical marijuana pursuant to the Marijuana for Medical Purposes Regulations and operates a 55,200 square foot expandable state-of-the-art production facility in Alberta, Canada.
ACBFF’s wholly-owned subsidiary, Australis Capital Inc., seeks to be an active participant in the U.S. Cannabis market. Aurora is trading on the Canadian Securities Exchange under the trading symbol “ACB”. The company is headquartered in Vancouver, Canada.
According to company’s materials, “Aurora’s wholly-owned subsidiary, Aurora Cannabis Enterprises Inc., is a licensed producer of medical cannabis pursuant to Health Canada’s Access to Cannabis for Medical Purposes Regulations (“ACMPR”). The Company operates a 55,200 square foot, state-of-the-art production facility in Mountain View County, Alberta, is currently constructing a second 800,000 square foot production facility, known as “Aurora Sky”, at the Edmonton International Airport, and has acquired, and is undertaking completion of a third 40,000 square foot production facility in Pointe-Claire, Quebec, on Montreal’s West Island.
In addition, the Company holds approximately 9.6% of the issued shares (12.9% on a fully-diluted basis) in leading extraction technology company Radient Technologies Inc., based in Edmonton, and is in the process of completing an investment in Edmonton-based Hempco Food and Fiber for an ownership stake of up to 50.1%. Furthermore, Aurora is the cornerstone investor with a 19.9% stake in Cann Group Limited, the first Australian company licensed to conduct research on and cultivate medical cannabis. Aurora also owns Pedanios, a leading wholesale importer, exporter, and distributor of medical cannabis in the European Union (“EU”), based in Germany.”