Categories Health Care

Aurora Cannabis shuffles its board of directors

Aurora Cannabis (ACB) on Wednesday announced the shuffle to its board of directors for aligning the directors’ experience and expertise with the company’s strategic direction. The board appointed Michael Singer, previously Chairman of the Board, as Executive Chairman.

Independent director Ronald Funk has been named Lead Independent Director. Ronald will work closely with Norma Beauchamp, Chair of the Governance Committee, for further enhancing the company’s corporate governance practices.

Margaret Atkins has been hired as a new independent director and Chair of the Audit Committee. Diane Jang, who served on the company’s board since November 2017, has voluntarily resigned her position as Director. The medical cannabis products maker is adorning its board with the changes for continuing to provide the same guidance and strong oversight to Aurora.

Aurora has awarded a director 28,000 options, pursuant to its stock option plan, exercisable at $9.43 per common share and shall vest over a three years period in equal annual installments. Also, the company granted 5,000 deferred share units, vesting over twelve months in equal annual installments.

“In my new role I will continue to work closely with our CEO, Terry Booth, and the rest of our senior executive team on all matters pertaining to strategic direction, execution, and finance,” said Michael Singer, Executive Chairman.

Key comments from Aurora Cannabis (ACB) Q2 2019 earnings conference call

In the recent second quarter, Aurora slipped to a loss from a profit last year, due to higher costs and expenses, arising from the purchase of various cannabis-selling companies. Net revenues soared by 363% year-over-year helped by a 550% jump in cannabis produced and a 502% jump in cannabis sold.

On July 25, 2018, Aurora purchased MedReleaf for increasing its cannabis production capacity, international presence, research and development portfolio, patient count and revenue growth. On August 8, 2018, the company acquired Anandia, a cannabis-focused science company specialized in genomics, metabolite profiling, plant breeding, disease characterization, cultivar certification, and the provision of testing services to producers and patient-cultivators.

On September 10, 2018, Aurora bought Agropro and Barela for extracting, refining and producing organic hemp biomass into a wide range of organic CBD-based products. On November 22, 2018, the company purchased ICC, a licensed producer, and distributor of medicinal cannabinoid extracts, consumer cannabis, and industrial hemp products in Uruguay, as well as a licensed producer of medicinal cannabis in Colombia.

The company reiterated its previous outlook of having about 25,000 kgs available for sale in the fourth quarter as its presence now spans 22 countries on five continents. Experts believe that the excise tax and a fall in wholesale pricing in the Canadian consumer market could hurt the pricing of dried cannabis and cannabis extracts. The company predicts production costs to fall due to the utilization of full capacity.

Shares of Aurora Cannabis ended Tuesday’s regular session down 1.70% at $6.93 on the NYSE. The stock has fallen over 14% in the past year while it has risen over 13% in the past three months.

 

Browse through our earnings calendar and get all scheduled earnings announcements, analyst/investor conference and much more!

Most Popular

Intensity Therapeutics is establishing a new field of localized cancer reduction: CEO

Intensity Therapeutics, Inc. (NASDAQ: INTS) is a clinical biotechnology company engaged in the discovery development, and commercialization of first-in-class cancer drugs that attenuate tumors with minimal side effects while training

INTU Earnings: Intuit Q1 2025 adj. profit rises on higher revenues

Financial technology company Intuit Inc. (NASDAQ: INTU) Thursday announced results for the first quarter of 2025, reporting a modest increase in adjusted earnings. The Mountain View-headquartered company’s first-quarter revenue came

Riding the AI wave, Nvidia looks set to stay on the high-growth path

After delivering strong results for the third quarter, Nvidia Corporation (NASDAQ: NVDA) this week said the launch of its new-generation Blackwell chip is on track. The company is thriving on

Comments

  1. Pingback: سياسة
  2. Pingback: Biochemistry
  3. Pingback: led lineari
  4. Pingback: Fiverr Earn
  5. Pingback: Fiverr Earn
  6. Pingback: fiverrearn.com
  7. Pingback: fiverrearn.com
  8. Pingback: fiverrearn.com
  9. Pingback: fiverrearn.com
  10. Pingback: 3pl Broker
  11. Pingback: quietum plus buy
  12. Pingback: livpure mediprime
  13. Pingback: fiverrearn.com
  14. Pingback: weather
  15. Pingback: fiverrearn.com
  16. Pingback: fiverrearn.com
  17. Pingback: fiverrearn.com
  18. Pingback: fiverrearn.com
  19. Pingback: Seo marketing
  20. Pingback: Safe Piano Removal
  21. Pingback: boat rental cancun
  22. Pingback: blockchain
  23. Pingback: viet travel
  24. Pingback: 18k gold plated
  25. Pingback: best deals
  26. Pingback: tech
  27. Pingback: future university
  28. Pingback: future university
  29. Pingback: future university
  30. Pingback: future university
  31. Pingback: future university
  32. Pingback: french bulldogs
  33. Pingback: Fiverr
  34. Pingback: Fiverr
  35. Pingback: fue
  36. Pingback: lean six sigma
  37. Pingback: FUE
  38. Pingback: FUE
  39. Pingback: Classic Books 500
  40. Pingback: Coach
  41. Pingback: FiverrEarn
  42. Pingback: Aussie Porn Stars
  43. Pingback: pupuk
  44. Pingback: partners
  45. Pingback: pura vive
  46. Pingback: Political Science
  47. Pingback: flowforce max
  48. Pingback: neurozoom
  49. Pingback: FiverrEarn
  50. Pingback: FiverrEarn
  51. Pingback: FiverrEarn
  52. Pingback: FiverrEarn
  53. Pingback: FiverrEarn
  54. Pingback: FiverrEarn
  55. Pingback: FiverrEarn
  56. Pingback: FiverrEarn
  57. Pingback: FiverrEarn
  58. Pingback: FiverrEarn
  59. Pingback: filmebi qartulad
  60. Pingback: Paneer
  61. Pingback: rings
  62. Pingback: FiverrEarn
  63. Pingback: FiverrEarn
  64. Pingback: FiverrEarn
  65. Pingback: cheap sex cams
  66. Pingback: live sex cams
  67. Pingback: live sex cams
  68. Pingback: live sex cams
  69. Pingback: live sex cams
  70. Pingback: Freeze dried water
  71. Pingback: frt trigger
  72. Pingback: 늑대닷컴
  73. Pingback: Slot video
  74. Pingback: nangs near me
  75. Pingback: superslot
  76. Pingback: allgame
  77. Pingback: หวย24
  78. Pingback: Best eye cream
  79. Pingback: bulldog in clothes
  80. Pingback: pg slot
  81. Pingback: catskills hotel
  82. Pingback: health supplements
  83. Pingback: masumintl
  84. Pingback: itme.xyz
  85. Pingback: ItMe.Xyz
  86. Pingback: itme.xyz
Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top