Aurora Cannabis closes sale of Aurora Polaris facility at EIA for $15M

Aurora Cannabis Inc. says it has closed the sale of its Aurora Polaris facility at the Edmonton International Airport.

The company says gross proceeds from the sale totalled about $15 million.

Aurora  as part of a plan to streamline its operations.

It said at the time that the location’s medical distribution operations would move to the Aurora Sky facility right beside it at the airport, while manufacturing would be relocated to Aurora River in Bradford, Ont.

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But then in May 2022, the company announced it was also closing Aurora Sky — one of the world’s largest cannabis facilities.

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 ending on Dec. 31, 2022.

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