Aurora Cannabis Initiates Share Consolidation to Bolster Financial Stability

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He reiterated his commitment towards achieving positive free cash flow during this year. In a move to boost its financial position, Aurora’s board of directors has given the green light for a share consolidation plan to reduce outstanding common shares. Under the proposed plan, one share will be issued for every 10 shares currently outstanding, bringing the total number of shares from 475,903,822 down to 47,590,382. According to Martin, the share consolidation measure emphasizes the need for financial discipline as they work towards meeting performance expectations.Fiscal 2024 Update: Expectations for Positive Earnings and Free Cash FlowAside from making strides in addressing share-related concerns, Aurora has laid out some specific plans for its future financial progress. The company projects positive adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) in its fiscal 2024 update.

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In a move to boost its financial position, Aurora’s board of directors has given the green light for a share consolidation plan to reduce outstanding common shares. Under the proposed plan, one share will be issued for every 10 shares currently outstanding, bringing the total number of shares from 475,903,822 down to 47,590,382. However, this restructuring is subject to approvals from regulatory bodies and stock exchanges where it pertains.

CEO Emphasizes Plan Will Not Hinder Goals for Financial Growth

Aurora CEO Miguel Martin has been quick to reassure stakeholders and investors that this new development in no way takes away...

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