Aurora Cannabis targeting October for U.S. stock listing
In listing on a U.S. exchange, Aurora would be following in the footsteps of fellow Canadian cannabis producers Tilray Inc. and Canopy Growth Corp.
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Alberta-based marijuana producer Aurora Cannabis Inc. is looking at listing shares on a major United States stock exchange in October, according to one of its executives.
“We’re targeting the month of October to establish a U.S. listing,” said Cam Battley, Aurora’s chief corporate officer, in an interview with the Financial Post on Tuesday.
Battley told the Post that such a move would continue to 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.
A move south would also allow Aurora to tap into the pockets of U.S. investors after a string of acquisitions, such as its recently announced agreement to buy Vancouver-based marijuana company ICC Labs Inc. for around $290 million in stock.
Prior to Battley’s comments, Aurora chief executive officer Terry Booth had mentioned to Bloomberg in March that his company was looking at trading its shares on a U.S. stock exchange. Aurora currently trades on the Toronto Stock Exchange.
“We’ll look at all exchanges, we’ll look at New York Stock Exchange,” Booth had said.
Battley did not specify the possible listing spot, adding that there may be more information provided after Aurora releases earnings next week.
But in listing on a major U.S. exchange, Aurora would be following in the footsteps of fellow Canadian cannabis producers Tilray Inc. and Canopy Growth Corp., both of which have seen recent gains in their share prices.
It would also come after BNN Bloomberg reported on Monday, citing sources, that Aurora and Coca-Cola Co. had held discussions about cannabis-infused drinks.
Aurora issued a statement on the situation Tuesday, saying that it “engages in exploratory discussions with industry participants from time to time.”
“At this time the Company confirms there is no agreement, understanding or arrangement with respect to any partnership with a beverage company,” it added.
• Email: gzochodne@nationalpost.com | Twitter: GeoffZochodne
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