Get 40% Off
👀 👁 🧿 All eyes on Biogen, up +4,56% after posting earnings. Our AI picked it in March 2024.
Which stocks will surge next?
Unlock AI-picked Stocks

Aurora Cannabis clears remaining convertible debt

Published 01/03/2024, 09:24 am
Updated 01/03/2024, 09:24 am
© Reuters.

EDMONTON, AB - Aurora Cannabis Inc. (NASDAQ: NASDAQ:ACB) (TSX: ACB), a leading global medical cannabis company based in Canada, has announced the repayment of roughly $7.2 million (US$5.3 million), which constitutes the final payment on the principal amount of its convertible senior notes. The total cash cost for this repayment, including accrued interest, was about $7.4 million (approximately US$5.5 million). With this move, Aurora has now settled nearly $465 million in convertible debt, leaving the company with a remaining debt of $47.9 million related to Bevo Farms Ltd.

Miguel Martin, CEO of Aurora, expressed that this repayment is a "significant milestone," highlighting the company's commitment to balance sheet strength and financial discipline. Martin anticipates these efforts will contribute to Aurora achieving its goal of positive free cash flow within the current calendar year.

Aurora Cannabis, with headquarters in Edmonton, Alberta, operates in the medical and consumer cannabis markets across Canada, Europe, Australia, and South America. The company boasts a diverse portfolio of adult-use brands such as Aurora Drift, San Rafael '71, and Daily Special, as well as medical cannabis brands like MedReleaf and CanniMed. Additionally, Aurora holds a controlling interest in Bevo Farms Ltd., a major supplier of propagated agricultural plants in North America.

The company's common shares are traded on the NASDAQ and TSX under the symbol "ACB" and it is part of the S&P/TSX Composite Index.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.