Aurora Cannabis closes sale of Polaris facility in Edmonton for $15M gross proceeds
Posted January 4, 2023 11:31 am.
Aurora Cannabis Inc. says it has closed the sale of its Aurora Polaris facility.
The company says gross proceeds from the sale totalled about $15 million.
Aurora announced in 2021 that it would close the Alberta property as part of a plan to streamline its operations.
Aurora Cannabis is closing one of its Edmonton facilities, not saying how many jobs impacted.
Aurora Polaris is being shut down. They will move some medical distribution to the Sky facility (next door), but the manufacturing will move to Ontario. #YEG pic.twitter.com/LDbR6eQwSD
— Carly Robinson (@CarlyDRobinson) September 22, 2021
It said at the time that the location’s medical distribution operations would move to the Aurora Sky facility, while manufacturing would be relocated to Aurora River in Bradford, Ont.
The company said its balance sheet remains in a net cash position, with about $320 million of cash and cash equivalents including about $63 million of restricted cash.
Aurora also reiterated its expectation of achieving profitability based on adjusted earnings before interest, taxes, depreciation and amortization for the quarter ended Dec. 31, 2022.
