Aurora Cannabis Achieves Highest Cannabis Corporate Boards Ranking in 2019 Globe & Mail Board Games Report – Canada NewsWire

Aurora Cannabis Achieves Highest Cannabis Corporate Boards Ranking in 2019 Globe & Mail Board Games Report - Canada NewsWire
Our Analysis of ACBs Latest Financial Results
EDMONTON, Dec. 2, 2019 /CNW/ – Aurora Cannabis Inc. (the "Company" or "Aurora") (NYSE │ TSX: ACB), the Canadian company defining the future of cannabis worldwide, is pleased to acknowledge the Companys ranking in the 2019 annual Report on Business ("ROB") review of Corporate Boards, known as Board Games.  Published in its 18th year, the ROB Board Games considers dozens of governance criteria, extending beyond those required by formal regulations. Aurora achieved a score of 67 (out of a total score of 100), representing a significant increase over the prior year, a substantially higher ranking than others in its peer group of companies.

"Auroras improvement in the ROB Board Games was made possible by the swift and responsible actions by the collective Board and with the full support of management," said Michael Singer, Executive Chairman of Aurora. "Immediately following the 2018 Board Games report, our Board underwent a critical review of its practices, policies and disclosures in an effort to be explicitly transparent with our shareholders and demonstrate leadership through its commitment to enhancing overall governance as Aurora continues advancing as the global cannabis leader. We are very pleased with this marked improvement and yet another important point of differentiation of Aurora from its peers."

At its core, the case for any cannabis-based organization is astoundingly elemental: nothing has turned into something. Prior to the wave of North American marijuana legalization initiatives, cannabis was largely a black market commodity, disconnected from the mainstream financial system. But with legal authority comes untapped corporate and government (tax) revenues. However, is this enough to save Aurora Cannabis (NYSE:ACB) and Aurora stock?

Aurora Receives First Approval for Medicinal Cannabis Product in Ireland

In partnership with its strategic advisors and the active participation of all Board members, Aurora was able to implement a series of important changes ahead of the close of its fiscal year, June 30, 2019.

Norma Beauchamp, Chair of Auroras Corporate Nominating and Governance Committee, added, "I am proud of the efforts this Board has undergone in a very short timeframe and with great determination to make big and critical shifts that are akin to mature businesses. We still have room for growth and are already in the process of implementing even further adjustments that we believe are appropriate for Auroras long-term success. The dramatic rise in ranking is a testament to the conviction of the organization."

And while MORE has no more than a snowball’s chance in hell of passing the Senate, we shouldn’t dismiss the act’s importance. As I noted a few days ago, this is the first time that a Congressional committee has voted for legalization. In other words, the political machinery is finally aligning with the will of the people.

The 2019 Board Games and complete methodology can be accessed here. Auroras Board of Directors circular can be viewed here.

Plus, with Aurora Cannabis stock at ridiculously cheap prices, it should encourage more contrarians to take a shot. Because think about this: how much more bad news can legitimately impact ACB stock? Due to the disappointing supply chain hang up in Canada, Wall Street has consistently lowered expectations for the green industry.

Headquartered in Edmonton, Alberta, Canada with funded capacity in excess of 625,000 kg per annum and sales and operations in 25 countries across five continents, Aurora is one of the worlds largest and leading cannabis companies. Aurora is vertically integrated and horizontally diversified across every key segment of the value chain, from facility engineering and design to cannabis breeding and genetics research, cannabis and hemp production, derivatives, high value-add product development, home cultivation, wholesale and retail distribution.

According to the latest read from the Pew Research Center, slightly more than two-thirds of Americans favor marijuana legalization. This represents a steady increase in botanical sentiment over recent years. Moreover, only 8% of Americans support keeping marijuana illegal in all circumstances.

Highly differentiated from its peers, Aurora has established a uniquely advanced, consistent and efficient production strategy, based on purpose-built facilities that integrate leading-edge technologies across all processes, defined by extensive automation and customization, resulting in the massive scale production of high-quality consistent product. Designed to be replicable and scalable globally, our production facilities are designed to produce cannabis at significant scale, with high quality, industry-leading yields, and low-per gram production costs. Each of Auroras facilities is built to meet European Union Good Manufacturing Practices ("EU GMP") standards. Certification has been granted to Auroras first production facility in Mountain View County, the MedReleaf Markham facility, and its wholly owned European medical cannabis distributor Aurora Deutschland. All Aurora facilities are designed and built to the EU GMP standard.

In addition to the Companys rapid organic growth and strong execution on strategic M&A, which to date includes 17 wholly owned subsidiary companies – MedReleaf, CanvasRX, Peloton Pharmaceutical, Aurora Deutschland, H2 Biopharma, BC Northern Lights, Larssen Greenhouses, CanniMed Therapeutics, Anandia, HotHouse Consulting, MED Colombia, Agropro, Borela, ICC Labs, Whistler, Chemi Pharmaceutical, and Hempco – Aurora is distinguished by its reputation as a partner and employer of choice in the global cannabis sector, having invested in and established strategic partnerships with a range of leading innovators, including: Radient Technologies Inc. (TSXV: RTI), Cann Group Ltd. (ASX: CAN), Micron Waste Technologies Inc. (CSE: MWM), Choom Holdings Inc. (CSE: CHOO), CTT Pharmaceuticals (OTCC: CTTH), Alcanna Inc. (TSX: CLIQ), High Tide Inc. (CSE: HITI), EnWave Corporation (TSXV: ENW), Capcium Inc. (private), Evio Beauty Group (private), and Wagner Dimas (private).

Auroras Common Shares trade on the TSX and NYSE under the symbol "ACB", and is a constituent of the S&P/TSX Composite Index.

A major reason for Markoch’s bearishness is the lack of a meaningful catalyst in the here and now. For instance, several weed plays have jumped on news that the House of Representatives voted favorably for the Marijuana Opportunity Reinvestment and Expungement (MORE) Act.

This news release includes statements containing certain "forward-looking information" within the meaning of applicable securities law ("forward-looking statements"). Forward-looking statements are frequently characterized by words such as "plan", "continue", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. These forward-looking statements are only predictions.  Various assumptions were used in drawing the conclusions or making the projections contained in the forward-looking statements throughout this news release. Forward-looking statements are based on the opinions, estimates and assumptions of management in light of managements experience and perception of historical trends, current conditions and expected developments at the date the statements are made, such as current and future market conditions, the current and future regulatory environment and future approvals and permits. Forward-looking statements are subject to a variety of risks, uncertainties and other factors that management believes to be relevant and reasonable in the circumstances could cause actual events, results, level of activity, performance, prospects, opportunities or achievements to differ materially from those projected in the forward-looking statements, including general business and economic conditions, changes in laws and regulations, product demand, changes in prices of required commodities, competition and other risks, uncertainties and factors set out under the heading "Risk Factors" in the Companys annual information form dated September 10, 2019 (the "AIF") and filed with Canadian securities regulators available on the Companys issuer profile on SEDAR at www.sedar.com. The Company cautions that the list of risks, uncertainties and other factors described in the AIF is not exhaustive and other factors could also adversely affect its results. Readers are urged to consider the risks, uncertainties and assumptions carefully in evaluating the forward-looking statements and are cautioned not to place undue reliance on such information. The Company is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities laws.

On the surface, such measures are net positive for ACB stock. However, the rub is that the Democrats control the house. Since the Republicans control the Senate, MORE is unlikely to pass. Therefore, Markoch labels this event as an “empty gesture.”

For further information: For Media: Laura Gallant, +1.437.992.8429, [email protected]; For Investors: Rob Kelly, +1.647.331.7228, [email protected]

Additionally, don’t overlook that the Republicans are carefully monitoring marijuana opinion polls. Every major living demographic supports legalization, except for the Silent generation (born 1928 to 1945). As I said earlier, they will die soon.

EDMONTON, Dec. 2, 2019 /PRNewswire/ – Aurora Cannabis Inc. (the “Company” or “Aurora”) (NYSE │ TSX: ACB), the Canadian company defining the future of cannabis worldwide, today announced that one of the Companys oil products has now been approved for use under Irelands new Medical Cannabis Access Programme (MCAP). Auroras High CBD Oil Drops received approval from the Irish authorities and have now been added to a regulatory schedule by the Irish Minister of Health enabling importation, prescribing and supply under the scheme and is to date, one of only two products to gain such authorization.

With the company’s size, lucrative acquisitions and/or partnerships with well-heeled corporate backers, its potential is massive. Furthermore, interest in legal cannabis is unlikely to fade, which represents great news for Aurora Cannabis stock.

Dr Shane Morris, Chief Product Officer at Aurora said, “Aurora is pleased to be able to assist patients who are seeking treatment with high quality EU-GMP (good manufacturing practice) certified pharmaceutical-grade medical cannabis in Ireland.   We are very proud to be one of the first approved suppliers of medical cannabis under the MCAP.  We want to acknowledge the efforts made by many people, especially the patients and doctors who have campaigned for access to these medicines.  We look forward to more of Auroras high-quality medicines being approved, so that more patients can benefit from the MCAP in Ireland.  We will continue to work closely with all parties and state agencies to facilitate further availability.”

As I and others have mentioned, ACB stock, along with major cannabis players like Tilray (NASDAQ:TLRY), Cronos Group (NASDAQ:CRON) and Canopy Growth (NYSE:CGC) don’t necessarily have a credibility problem regarding their longer-term narrative.

Under the new programme, a consultant can prescribe medical cannabis for patients under their care who have any of the following medical conditions:

Invariably, the criticism of my argument is that I’m again talking about the longer-term thesis for ACB stock. But what about the here and now? Does the underlying company have enough time to see this narrative play out?

The Medical Cannabis Access Programme was signed into law in June 2019 by Irelands Minister for Health, Simon Harris. The programme will facilitate access to cannabis-based medical products in line with legislation and is scheduled to run for 5 years.

Granted, Aurora stock is backed by some of the ugliest financials I’ve seen among major cannabis competitors. But with lowered standards and rising public sentiment, ACB is hardly a confirmed lost cause.

Headquartered in Edmonton, Alberta, Canada with funded capacity in excess of 625,000 kg per annum and sales and operations in 25 countries across five continents, Aurora is one of the worlds largest and leading cannabis companies. Aurora is vertically integrated and horizontally diversified across every key segment of the value chain, from facility engineering and design to cannabis breeding and genetics research, cannabis and hemp production, derivatives, high value-add product development, home cultivation, wholesale and retail distribution.

Highly differentiated from its peers, Aurora has established a uniquely advanced, consistent and efficient production strategy, based on purpose-built facilities that integrate leading-edge technologies across all processes, defined by extensive automation and customization, resulting in the massive scale production of high-quality consistent product. Designed to be replicable and scalable globally, our production facilities are designed to produce cannabis at significant scale, with high quality, industry-leading yields, and low-per gram production costs. Each of Auroras facilities is built to meet European Union Good Manufacturing Practices (“EU GMP”) standards. Certification has been granted to Auroras first production facility in Mountain View County, the MedReleaf Markham facility, and its wholly owned European medical cannabis distributor Aurora Deutschland. All Aurora facilities are designed and built to the EU GMP standard.

He’s right that this is meaningless in the interim. However, I believe that MORE has long-term implications for Aurora stock that the bears may not appreciate.

In addition to the Companys rapid organic growth and strong execution on strategic M&A, which to date includes 17 wholly owned subsidiary companies – MedReleaf, CanvasRX, Peloton Pharmaceutical, Aurora Deutschland, H2 Biopharma, BC Northern Lights, Larssen Greenhouses, CanniMed Therapeutics, Anandia, HotHouse Consulting, MED Colombia, Agropro, Borela, ICC Labs, Whistler, Chemi Pharmaceutical, and Hempco – Aurora is distinguished by its reputation as a partner and employer of choice in the global cannabis sector, having invested in and established strategic partnerships with a range of leading innovators, including: Radient Technologies Inc. (TSXV: RTI), Cann Group Ltd. (ASX: CAN), Micron Waste Technologies Inc. (CSE: MWM), Choom Holdings Inc. (CSE: CHOO), CTT Pharmaceuticals (OTCC: CTTH), Alcanna Inc. (TSX: CLIQ), High Tide Inc. (CSE: HITI), EnWave Corporation (TSXV: ENW), Capcium Inc. (private), Evio Beauty Group (private), and Wagner Dimas (private).

Auroras Common Shares trade on the TSX and NYSE under the symbol “ACB”, and is a constituent of the S&P/TSX Composite Index.

This news release includes statements containing certain “forward-looking information” within the meaning of applicable securities law (“forward-looking statements”). Forward-looking statements are frequently characterized by words such as “plan”, “continue”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “may”, “will”, “potential”, “proposed” and other similar words, or statements that certain events or conditions “may” or “will” occur. These forward-looking statements are only predictions.  Various assumptions were used in drawing the conclusions or making the projections contained in the forward-looking statements throughout this news release. Forward-looking statements are based on the opinions, estimates and assumptions of management in light of managements experience and perception of historical trends, current conditions and expected developments at the date the statements are made, such as current and future market conditions, the current and future regulatory environment and future approvals and permits. Forward-looking statements are subject to a variety of risks, uncertainties and other factors that management believes to be relevant and reasonable in the circumstances could cause actual events, results, level of activity, performance, prospects, opportunities or achievements to differ materially from those projected in the forward-looking statements, including general business and economic conditions, changes in laws and regulations, product demand, changes in prices of required commodities, competition and other risks, uncertainties and factors set out under the heading “Risk Factors” in the Companys annual information form dated September 10, 2019 (the “AIF”) and filed with Canadian securities regulators available on the Companys issuer profile on SEDAR at www.sedar.com. The Company cautions that the list of risks, uncertainties and other factors described in the AIF is not exhaustive and other factors could also adversely affect its results. Readers are urged to consider the risks, uncertainties and assumptions carefully in evaluating the forward-looking statements and are cautioned not to place undue reliance on such information. The Company is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities laws.