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

Nevada-based cannabis retailer Planet13 Holdings released preliminary third-quarter revenue figures Tuesday, telling investors it expects to report US$22.8 million in sales in the three-month period. Planet13 added that it expects to report gross margins of about 50 per cent in its Q3 with an average of 1,625 customers per day and an average sales ticket of US$124, a sign that the pandemic isn't impacting operations for the company. Planet13 said it also expects to see a boost in wholesale revenue, with its products now available in nearly three dozen dispensaries in Nevada. Shares of Planet13 rose nearly eight per cent on the Canadian Securities Exchange on Tuesday. 

MJBizCon cancelled, event to take place virtually over five-week period

Marijuana Business Daily said Tuesday it will cancel its MJBizCon gathering in Las Vegas this year, replacing the event with a five-week-long digital trade show. The cancellation of MJBizCon, widely viewed as the biggest cannabis industry conference in the world, came as the Las Vegas Convention Center halted events due to state restrictions on the size of in-person events due to the COVID-19 pandemic. The live event will be replaced with a series of virtual panels where participants will discuss the impact of the U.S. election on the cannabis sector among other topics. 


DAILY BUZZ

 
 


Cheese Quake (Indica Strong)

-- The name of the cannabis strain Tilray sold to German pharmacies that first travelled through Uruguay and Portugal., MJBizDaily reports 

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