Aurora Cannabis Bounces Back: Debt Paid, Growth Ahead
Aurora Cannabis Inc. (NASDAQ:ACB) (TSX:ACB) announced on Thursday that it has repaid an aggregate of approximately CA$$7.2 million ($5.3 million), representing the final payment on the principal amount of its convertible senior notes at a total cash cost of CA$7.4 million, including accrued interest.
The Canadian medical marijuana giant said in a press release that following the completion of this repayment, its remaining debt of CA$47.9 million relates to Bevo Farms Ltd.
Miguel Martin, the company’s CEO, called the move “a significant milestone for Aurora.”
“We have now fully paid off nearly $465 million in convertible debt,” Martin said. “Our focus on balance sheet strength has saved the Company millions in interest and we feel confident that our continued financial discipline will support the achievement of our target of positive free cash flow this calendar year.”
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