May 19, 2020
Aurora Cannabis plans US stock listing in October
Vancouver-based cannabis producer Aurora Cannabis is planning a stock listing in the US, according to Financial Post
The firm, recently noted for its ongoing talks with Coca-Cola regarding a CBD-infused beverage, is currently listed on the Toronto Stock Exchange and would join Tilray Inc and Canopy Growth Corp as a dual-listed cannabis company.
Terry Booth, CEO at Aurora, told Bloomberg’s Terry Booth in March:
“We’ll look at all exchanges, we’ll look at New York Stock Exchange”.
Tilray Inc listed on Nasdaq in July, and its stocks have boomed by 1100% since to become the most valuable cannabis company in Canada, according to CNBC.
A recent spike in Tilray’s worth has been attributed to the company receiving approval to import cannabis products into San Diego for clinical trials at the University of California.
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It’s valuation of US$14.4bn on 18 September trumped former market leader Canopy Growth Corp at $11.5bn.
With recreational cannabis use set for legalization in Canada on 17 October, cannabis companies are seeing opportunities to appeal to US investors as the market prepares for a boom.
The Financial Post added that Aurora has made a string of recent acquisitions, including that of ICC Labs, a cannabis company based in Vancouver, for “around $290 million in stock”.