Aurora may need years to become profitable unless major cuts made: BMO
BMO Capital Markets doesn't expect Aurora Cannabis to book a profit for the next three years unless further cost cuts are made. BMO analyst Tamy Chen released a report late Monday that updated the firm's expectations for Aurora's sales over the next several years, highlighting that the timeline to achieve the sales figures needed to hit an EBITDA-break-even is about three years away. That timeline could be reduced if Aurora engages in meaningful [selling, general and administrative expense] cuts, Chen wrote. Aurora recently said it expects to report positive adjusted EBITDA in the second quarter of its fiscal 2021. Aurora shares have fallen about 39 per cent over the past month.
Subversive REIT in discussions to acquire U.S. pot assets, but deal not finalized
Subversive Real Estate Acquisition REIT issued a press release Tuesday to dismiss media reports suggesting that the company has agreed to purchase a wide swath of U.S. cannabis assets. Subversive, which currently runs as a special-purpose acquisition company, did confirm it is in discussions regarding undisclosed transactions, but nothing has been finalized. The company has raised about US$225 million through its SPAC, and was reported to be in talks to acquire cannabis-related facilities in nine U.S. states for about US$182 million.
Planet13 says preliminary Q3 revenue to come in around US$22.8M