Aurora Cannabis Inc. (NYSE:ACB) (TSX:ACB) is a top marijuana stock trending on both the US and Canadian markets this morning. The Edmonton, Alberta-based cannabis company made its debut on the New York Stock Exchange (NYSE) in mid-October. The debut occurred just after recreational cannabis became nationally legalized across Canada.
Marijuana Stock: Aurora Cannabis Expands
Yesterday, Aurora made a big announcement that it had secured the required export permit and, as such, has completed its first shipment to the Czech Republic. Now, Aurora is fully operational in 21 different countries around the world.
"This supply arrangement demonstrates our ability to enter into new jurisdictions as the partner of choice in new markets with strong barriers to entry, and is testament to the strength and business execution of our European business development team," said Neil Belot, Chief Global Business Development Officer.
In 2013, medical marijuana became legal in the Czech Republic. By law, patients are allowed to be prescribed a total of 180 grams of dried flower a month. The Czech Republic currently has a population of around 10 million people.
In addition to the news about its expansion, the marijuana stock announced this morning that it has completed the sale of the Australis Capital Inc. units on behalf of non-resident shareholders.
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"With this final distribution of net cash proceeds to non-resident shareholders, Aurora has completed its commitment to return capital to all of our shareholders," said Terry Booth, CEO of Aurora. "Since its public listing, the team at Australis have hit the ground running, executing on a number of investments with strong growth potential. Through our contingent interest in Australis, we'll keep a close eye on the exciting U.S. market, and look to exercise our back-in right as soon as federal regulations permit."
ACB Stock Movement
According to Yahoo Finance, the marijuana stock is trading in green on both the NYSE and TSX. At press time, ACB is selling for $5.88 a share, up +$0.38 (+6.91%) on the NYSE. On the TSX, ACB shares are trading at $7.78 CAD, up +$0.49 CAD (+6.72%).
Featured Image: Depositphotos/© Ruletkka
