06:26:11 EDT Thu 25 Apr 2024
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or Name
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CA



Aurora Cannabis Inc
Symbol ACB
Shares Issued 1,089,513,408
Close 2019-12-23 C$ 2.65
Market Cap C$ 2,887,210,531
Recent Sedar Documents

Post says Aurora disappoints investors and Alberta town

2019-12-24 08:55 ET - In the News

The Financial Post reports in its Tuesday edition that Aurora Cannabis's facility in Medicine Hat, Alta., is so large that it appears to stretch for miles on end. The Post's Vanmala Subramaniam writes, however, that there is only a semblance of activity around the facility. Tractors roll up along the main entranceway to the greenhouse in an attempt to shovel snow, while at least four people are perched on elevated cranes watching the tractors work. Just months earlier, construction of the Aurora Sun greenhouse was happening at a frenetic pace as workers raced around the clock to meet a self-imposed deadline of being fully operational by the end of 2019. "They were paying overtime, working 24 hours, pouring concrete, doing a lot of things," said Medicine Hat Mayor Ted Clugston. "Then they halted that push." In mid-November, just after posting one of its weakest financial quarters ever, Aurora abruptly announced it was halting construction in order to conserve $110-million of cash. The delay was a prudent step to reign in expenses, but for Medicine Hat, where job losses soared and city revenues plummeted in the wake of low oil and gas prices, the prospect of losing those promised 650 new jobs was crushing.

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