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AUSAF - Aurora Cannabis: More Dilution Likely Coming In 2020
Australis Capital Inc
Aurora Cannabis (ACB) is heading down a dangerous path of dwindling liquidity and negative cash flow. We first sounded the alarm in December 2019 but new developments have confirmed our concern. The company is doing all it could to raise capital and minimize cash outlays. However, we think more dilutive capital raises will be required absent any third-party investment or large asset divestiture. We reiterate the call for investors to be cautious and realize the balance sheet risk for Aurora.