Aurora Cannabis Sells Closed Polaris Plant for C$15 Million

Canadian cannabis producer Aurora Cannabis has sold its former Aurora Polaris facility to an unspecified buyer for C$15 million ($11.1 million). aurora announced the closure of its Polaris facility in August 2022, along with a reduction in the company's workforce of about 8 percent. aurora is one of several publicly traded Canadian Aurora is one of several publicly traded cannabis companies that have collectively built too much cultivation capacity for the country's adult-use cannabis market. The Edmonton, Alberta-based company subsequently closed several facilities, including the Aurora Sun greenhouse. Following the Polaris sale, Aurora said it had $320 million in cash and cash equivalents, including about $63 million in restricted cash. Aurora, whose shares trade on the Toronto Stock Exchange and Nasdaq under the name ACB, lost $51.9 million in the most recent quarter.

Information source: new.qq.com/omn/author/871356