Aurora Cannabis (TSX:ACB) (OTCQX:ACBFF) just announced big news that should leave its early investors thrilled. An Aurora Cannabis new listing on a major US exchange will be occurring within the next few months, Aurora’s CCO told the Financial Post yesterday.
Aurora Cannabis New Listing
Cam Battley told the FP, “We’re targeting the month of October to establish a U.S. listing.”
Currently, Aurora is listed on the OTCQX, the Toronto Stock Exchange, and the French Stock Exchange. Battley told reporters at the Post that the move would broaden the scope of Aurora’s would-be investors, “including U.S. institutional investors, not all of whom are able to trade in OTC-listed securities,” he said.
The company did not divulge which exchange the new listing would be on.
Aurora Cannabis is based in Vancouver, Canada and currently distributes medical cannabis products across Canada and internationally. The company currently holds 171 full-time employees and is growing rapidly, as Canada is weeks away from nationally legalizing recreational cannabis.
Aurora’s further push south would allow the company to tap deeper into the pockets of US investors and help drive the company ahead of its stiff competition.
Aurora was recently placed on the Toronto Stock Exchange and back in March, Aurora’s CEO, Terry Booth, told Bloomberg that his company was exploring all US exchanges—including the New York Stock Exchange.
Aurora Making Moves
On Monday, BNN Bloomberg ran a story that Aurora and Coca-Cola were holding discussions on collaborating on cannabis-infused drinks.
This news caused Aurora’s share prices to skyrocket. Aurora made a public statement the following day stating, “At this time the Company confirms there is no agreement, understanding or arrangement with respect to any partnership with a beverage company.”
Canadian cannabis companies are in a tight race to win investor attention, as cannabis has become the hot ticket on the public markets lately.
Will Aurora’s new listing change anything?
Aurora Stock Movement
According to Yahoo Finance, ACBFF is trading at $9.27 a share on the OTC, up $0.76 (+8.93%). On the TSX, ACB shares are trading at $12.22, up $1.20 (+10.89%).
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