Aurora Cannabis: Trudeau Vows Legalization And Canadian Pot Stocks To Soar – Seeking Alpha

About a month ago, Canadian Prime Minister Trudeau announced that he intended on having cannabis be legal throughout the entire nation and hopes to have this accomplished by July. For established Canadian cannabis companies, this expansion could result in increased sales. Canadian Pot company Aurora Cannabis (OTC: OTCQX:ACBFF) has also just finished a conversion of indenture to stock that will save the company in costs. The result has given the company a significant rise in their stock price with further growth ahead.

Trudeau hopes to legalize across the nation

Prime Minister Trudeau hopes that the entire nation can have legal recreation and medical marijuana in Canada by July. While there are some that are concerned about the pace at which the federal government wants to proceed, there are already considerable laws in place with medical marijuana to help guide the federal government’s standards.

The government hopes to achieve a C$1.00 tax per gram for recreational marijuana. This is considered a major win for producers as it is not too high (The amount works out to be about 10% on a purchase).

Indenture conversion

The indenture conversion at $3.02 per share converted debt into a little more than 2 million shares. The company has successfully achieved target levels that have pushed its stock upward over the past several months. This, in turn, has allowed the company to convert the last of its debt into shares. The news from today’s move pushed the stock to all-time highs:

Aurora Cannabis is sitting on cash

The market capitalization of Aurora Cannabis is just over $1 billion; it is one of the larger pot stocks. At the same time, the company is overflowing with cash; in their last (As of June, 2017, the company had $122 million cash on hand).

Cash is king in

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