Aurora Cannabis is Selling a Facility

Canadian marijuana producer Aurora Cannabis has listed their Exeter, Ontario facility for sale.

The 22-acre greenhouse on 70 acres is listed for sale at C$17 million. The property also has another 95 acres of additional land for sale at C$2 million for potential total proceeds of C$19 million.

Aurora had inherited the facility with its acquisition of Medreleaf back in 2018.

Recently Aurora also provided an expected revenue range for the second quarter of the Company’s Fiscal 2019, the period ended December 31, 2018.

Full results will be published on Monday, February 11, 2019 pre-market.

According to a press release from the company, based on preliminary (unaudited) results, the company anticipates revenues for Q2 2019 of between $50 million and $55 million (net of excise taxes), compared to $11.7 million for the same quarter in the prior year, and compared to $29.7 million for the previous quarter ended September 30, 2018. The results reflect an anticipated revenue growth rate in excess of 327% compared to Q2 2018 and in excess of 68% compared to Q1 2019.

Revenue growth for the quarter was driven by the Company’s strong position in the adult consumer use market in Canada, continued shipments of medical cannabis to Aurora’s expanding base of approximately 71,000 patients in Canada, and relatively stable, supply restricted shipments, to its growing international markets.

“Aurora continues to execute effectively across all market segments, as demonstrated by its revenue growth anticipated to exceed 68% as compared to last quarter, supported by continued strong performance in the Canadian adult consumer use market,” said Terry Booth, CEO of Aurora. “Our consistent and high-quality production continues to significantly ramp up as expected, fueling even further growth. Going forward, we see sustained strong demand from the adult usage market, as evidenced by public statements from the Canadian provinces, as well as strong patient-driven demand for medical cannabis in Canada and abroad. These factors, together with our focus on disciplined management of operating expenses, and our growing portfolio of higher margin products, put us in a position to rapidly achieve positive EBITDA within the next two quarters.”

Disclaimer: We have no position in Aurora Cannabis Inc. (NYSE: ACB) and have not been compensated for this article.