Aurora Cannabis (TSX: ACB) (NYSE: ACB) has placed its Aurora Sun facility, located in Medicine Hat, for sale. Originally reported by MJBizDaily, the building has been found to be publicly listed by Colliers International as being for sale.
The facility, which is as of yet uncompleted, has seen capital expenditures of $260.0 million to date, and likely requires significant further capital to achieve completion. The building, referred to as the “Solar Fields Complex,” is 1.7 million square feet in size while sitting on 72 acres. However, that size is not exactly entirely defined, as only six of thirty seven of the bays in the building are even fully enclosed.
Recognizing that the complex is likely not best-suited for cannabis production given the current cannabis business climate in Canada, the listing lists a number of potential uses for the facility such data mining, manufacturing, greenhouse operations, R&D and more. Much of the materials required to complete the facility are reportedly on-site, but not installed.
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The sale of the facility officially launched March 1, with Colliers seeking non-binding expressions of interest in late April. To be included in such expressions of interest include a bid price, terms of closing, timing of closing, and the transaction approval process.
Aurora is reportedly “open to a broad range of potential transaction structures and forms of consideration in order to maximize value.” Potential transactions could include a partial sale of property or interest, or the leasing of the complex.
Aurora Cannabis last traded at $12.90 on the TSX.
Information for this briefing was found via Sedar and Aurora Cannabis. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
