Aurora Exports $10 Million In Cannabis To Israel

Aurora Cannabis (TSX: ACB) seemingly remains focused on growing its international medical cannabis operation. The firm this morning reported it made a major $10 million medical cannabis shipment to Israel in the month of December.

The shipment is the firms largest ever export, and believed to be one of the largest exports to Israel by any cannabis producer. The transaction is believed to be part of an ongoing Israel supply agreement, which in the first quarter generated the firm total revenue of $7.9 million.

It’s unclear if other shipments to the nation are occurring during the current quarter, or if transactions have been limited to single shipments. The firm last quarter recorded total international medical cannabis net revenue of $15.9 million, and was a primary driver in improving results for the company. Canadian medical cannabis revenues meanwhile stayed flat for the firm on a quarterly basis, indicating the company’s ability to improve results evidently hinges on its international performance.

It is unclear how many kilograms of cannabis were shipped to Israel to achieve the $10 million figure. The firm currently has in place an arrangement with Cantek Global for a minimum of 4,000 kilograms to be supplied to the firm on an annual basis.

Unrelated, the firm announced this morning it has expanded its board of directors to nine members, with the appointment of Chitwant Kohli to the board. Kohli previously served at Royal Bank of Canada for nearly three decades, retiring as the Senior Vice President of Enterprise Operations and Payments.

Aurora Cannabis last traded at $6.85 on the TSX.


Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization unless otherwise mentioned. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Baselode Energy To Acquire Forum Energy: The Merger Of Equals Deal

TriStar Gold: The Revised Castelo de Sonhos Prefeasibility Study

Gold is Up 30%, But the Real Bull Market is Only Starting Now! | Adrian Day

Recommended

ESGold To Expand Mine Building At Montauban In Advance Of Gold & Silver Production

Goliath Resources Expands 2025 Drill Program To 60,000 Metres

Related News

Aurora Posts Flat Quarterly Revenue Growth In Q2 2022

Aurora Cannabis (TSX: ACB) this evening reported its second quarter financial results. The firm reported...

Thursday, February 10, 2022, 05:25:34 PM

Aurora Cannabis Reiterates Guidance For Q1 2021

Aurora Cannabis (TSX: ACB) (NYSE: ACB) this morning reiterated guidance for the first quarter of...

Friday, October 30, 2020, 08:21:19 AM

Aurora Cannabis: Seven Analysts Slash Price Targets In Wake Of Blowout Fourth Quarter

Earlier this week, Aurora Cannabis (TSX: ACB) (NYSE: ACB) reported their fourth-quarter financials, after having...

Thursday, September 24, 2020, 11:33:00 AM

Galaxy Brain: Aurora Charting a Course through the Cannabis Supply Glut

For this weekend’s special piece, Deep Dive author Matthew Cox breaks down the Health Canada...

Saturday, November 23, 2019, 08:36:04 AM

Aurora Cannabis Attempts To Raise US$125 Million In Public Offering

It seems that Aurora Cannabis (TSX: ACB) (NYSE: ACB) is intending to use its recent...

Wednesday, November 11, 2020, 07:25:48 AM