Canadian cannabis company Aurora Cannabis Inc. announced that it is seeking to list its common shares on the New York Stock Exchange. The Edmonton-based medical pot producer said that is has already filed a formal application with the NYSE and anticipates to begin trading later this month.
Once it satisfies all the listing and regulatory requirements and receives approval from the NYSE, Aurora Cannabis will be trading under the ticker symbol ACB. This is the same symbol the company’s common shares are currently trading under on the Toronto Stock Exchange.
Aurora will continue to trade under the ticker symbol “ACBFF” on the OTCQX (an over-the-counter marketplace) until its listing with the NYSE is finalized. The company said that once it receives the NYSE’s approval and completes the formal listing process, it will delist its shares from the OTCQX.
In conjunction with the intended listing, Aurora Cannabis filed a Form 40-F Registration Statement with the U.S. Securities and Exchange Commission.
Aurora’s announcement does not come as a surprise as the company had previously expressed its interest in a U.S. listing.
According to Aurora CEO Terry Booth, through an NYSE listing, the company joins an established roster of mature global brands that boast improved exposure and access to an audience of engaged international investors.
Booth noted that Aurora’s high-paced execution made it one of the leading cannabis companies in the world. It has grown from being a single-facility licensed producer to a global organization with operations and sales in 18 countries across five continents, a funded production capacity that exceeds 500,000 kilograms a year, and a workforce of more than 1,500 employees.
Aurora is horizontally diversified and vertically integrated across every key segment of the value chain, including facility engineering and design, genetics research, cannabis breeding, cannabis and hemp production, high value-add product development, wholesale and resale distribution, and home cultivation.
Aurora has established a consistent, advanced, and efficient production strategy that is defined by extensive customization and automation, and is based on purpose-built facilities that integrate cutting-edge technologies across all its processes, therefore resulting in the large-scale production of high-quality cannabis products at very low costs.
What’s more, the company is known for its rapid organic growth, as well as for its strong execution on strategic mergers and acquisitions. To date, its M&A portfolio includes 15 companies: MedReleaf, CanniMed Therapeutics, Aurora Deutschland (formerly Pedanios), Peloton Pharmaceutical, CanvasRX, Urban Cultivator, H2 Biopharma, Larssen Greenhouses, BC Northern Lights, Anandia Labs, Agropro, Borela, HotHouse Consulting, and the pending acquisition of ICC Labs. As a result, Aurora has a distinguished reputation as an employer and partner of choice in the global cannabis sector.