Aurora Cannabis Inc. has closed the sale of its Edmonton-based Polaris facility.
Announced in 2019 as a 300,000-square-foot expansion, the facility was intended to serve as Aurora’s “centre of excellence for the industrial-scale production of higher margin, value added products.”
Those facilities were based in Ontario, Quebec, Saskatchewan and Alberta. The company sells its products under the Aurora Drift, San Rafael ’71, Daily Special, Whistler, Being and Greybeard banners.
It also owns CBD brands Reliva and KG7.
Aurora said its balance sheet remains in a net cash position, with about $320 million of cash and cash equivalents, including approximately $63 million of restricted cash. It expects to achieve profitability for the quarter ending Dec. 31, 2022.
Once trading at more than $160 a share, Aurora’s stock was down to $1.20 on Friday morning.
During a conference call with analysts in November, Aurora CEO Miguel Martin said the company is
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