Log in
Show password
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Dynamic quotes 
News: Latest News
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance Pro.CalendarSectors 
All NewsEconomyCurrencies & ForexEconomic EventsCryptocurrenciesCybersecurityPress Releases

Canada's Aurora Cannabis to shut down a facility in Edmonton

09/21/2021 | 05:57pm EDT
The Logo for Aurora Cannabis Inc., a Canadian licensed cannabis producer, is displayed on a screen on the floor of the NYSE in New York

(Reuters) - Aurora Cannabis Inc said on Tuesday it will shut down a facility in Edmonton, Alberta, adding to the woes of the cash-strapped Canadian pot producer which has been reeling under the impact of the pandemic since last year.

The company said medical distribution from the Aurora Polaris facility that is being shut down will move to an adjacent factory called Aurora Sky, while manufacturing will move to its Aurora River factory in Ontario.

"We aspire to be a leaner, more agile organization that keeps pace with our competition and is on a path to profitability," a spokesperson for the company said in an email statement.

The company, however, did not disclose the number of employees that would be impacted by the move.

On Monday, the Edmonton-based company also delayed https://www.prnewswire.com/news-releases/aurora-cannabis-reschedules-fourth-quarter-and-full-fiscal-year-2021-investor-conference-call-and-related-year-end-informational-filings-to-monday-september-27-2021-301380831.html the announcement of its fourth-quarter earnings.

Aurora had announced staff reductions and plans to shut five facilities in June last year, hit by the pandemic's impact on the cash-strapped cannabis industry.

Canada legalized recreational cannabis in October 2018, but profits have remained elusive for most marijuana companies due to fewer-than-expected retail stores, cheaper rates on the black market and slow overseas growth.

(Reporting by Niket Nishant and Shariq Khan in Bengaluru; Editing by Krishna Chandra Eluri)

© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
AUXLY CANNABIS GROUP INC. -4.26% 0.225 Delayed Quote.-7.84%
CANOPY GROWTH CORPORATION -1.75% 17.42 Delayed Quote.-43.39%
CRONOS GROUP INC. -0.69% 7.17 Delayed Quote.-18.33%
HEXO CORP. -6.67% 2.24 Delayed Quote.1,448.39%
ORGANIGRAM HOLDINGS INC. 0.34% 2.94 Delayed Quote.73.37%
THE GREEN ORGANIC DUTCHMAN HOLDINGS LTD. -2.86% 0.17 Delayed Quote.-25.53%
Latest news "Economy & Forex"
05:57pRenaissance Insurance offers shares at 120 roubles/piece in Moscow IPO
05:57pProtesters denounce Netflix over Chappelle transgender comments
05:49pQualtrics raises full-year sales forecast above Wall Street expectations
05:49pKinder Morgan profit rises as fuel demand heats up
05:48pFed report shows wage pressures amid 'modest to moderate' economic growth
05:39pUK's National Grid to bring back 500 MW at IFA1 interconnector
05:39pThe WSJ Dollar Index Falls 0.17% to 88.03 -- Data Talk
05:39pEuro Gains 0.13% to $1.1651 -- Data Talk
05:39pSterling Gains 0.24% to $1.3825 -- Data Talk
05:38pDollar Lost 0.03% to 114.32 Yen -- Data Talk
Latest news "Economy & Forex"