Aurora Cannabis Inc. ACB ACB has closed the sale of its Aurora Polaris facility for gross proceeds of approximately $15 million.
The company announced shutting down its Edmonton, Alberta-based facility, back in September 2021, as a part of its ‘business transformation plan,’ which included cost efficiency initiatives.
Aurora's balance sheet remains in a net cash position, with approximately $320 million of cash and cash equivalents (including approximately $63 million of restricted cash) inclusive of the Polaris facility transaction, and the company reiterates its expectation of achieving adjusted EBITDA profitability for the quarter ending December 31, 2022.
About Aurora
The company's adult-use brand portfolio includes Aurora Drift, San Rafael '71, Daily Special, Whistler, Being and Greybeard, as well as CBD brands, Reliva and KG7. Medical cannabis brands include MedReleaf, CanniMed, Aurora and Whistler Medical Marijuana Co. Aurora also has a controlling interest in Bevo Farms.
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Photo: Benzinga edit with photos by geralt and lindsayfox on Pixabay
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