Cannapany on January 26, 2023 No Comments
The cannabis company will present its financial health status in February
The second quarter of fiscal 2023 is approaching and the Canadian company defining the future of cannabinoids worldwide, Aurora Cannabis, is looking to get in line with its investors by the time that happens. To that end, the company recently made it known that it has put on its calendar a conference call to discuss this period’s results Thursday, February 9, at 5:00 PM Eastern Time.
Aurora intends to be able to share and discuss its financial results for the second quarter of fiscal 2023 after the markets close that same day. The conference call will be hosted by Glen Ibbott, Chief Financial Officer, and Miguel Martin, Chief Executive Officer. They will be in charge of the Q&A section in order to clarify any questions that conference call participants may have.
It is likely that during this meeting, mention will also be made regarding the sale of the Polaris facility, recently announced by the company. Earlier this month, Aurora announced that it had completed the necessary paperwork to finalize the sale of this property for gross proceeds of approximately $15 million, the closing of which was previously announced under Aurora’s ongoing transformation program.
Aurora maintains a net cash position with respect to its balance sheet, with approximately $320 million of cash and cash equivalents, including that transaction announced on January 4. As previously made clear, management continues to work around the clock to achieve its expectation of adjusted EBITDA profitability for the next quarter. This will be a topic of considerable interest to many investors during the conference call.
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