16 - Prairie Post West - Friday, February 26, 2021 Best of the Best


No news on Aurora Sun plant as company gives financial report Feb. 11


BY COLLIN GALLANT ALBERTA NEWSPAPER GROUP


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Aurora Cannabis officials say the company is executing on its path to repositioning as a profitable “premium” producer, as they released a financial report Feb. 11 that gave no new infor- mation on the future of the paused Sun facility in Medicine Hat. CEO Miguel Martin says the Ed- monton-based company narrowed its unadjusted loss to $12 million in the last quarter, while some sales segments strengthened and operating costs were reduced. The net loss including one-time costs


was $292 million, down from a $1.3-bil- lion loss in the same quarter last year that included write-downs and which sparked major restructuring. It also reported a 28 per cent increase


in cannabis revenue, to $67.7 million, with strengthening medical market sales. “We’re awfully excited about where


the company is, and even more excited about where we are going,” said Martin. Aurora confirmed that four smaller


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production facilities slated for closure in the summer were now shuttered. At that time it also completely halted construction and efforts to licence the 1.6-million square-foot, partially complet- ed Aurora Sun facility in Medicine Hat. As well, the company decreased pro-


duction at the Sky facility in Leduc by three-quarters, and is now focusing that three-year-old facility on “premium” brand production and derivative produc- tion, such as vapes and edibles. Share prices for Aurora, which re- ported results after trading ended Feb. 11, fell from $23.78 to $18.33 over the course of the day. It began the week at $16.55. The company’s stock rose as much as


50 per cent this week as the sector was buoyed by discussions in the Unit- ed States about removing the federal prohibition on recreational, adult-use marijuana.


“Obviously we’re watching very close to


the shifting landscape … Canadian LPs that are compliance based are advan- taged (in a potential U.S. sector),” said Martin, saying Aurora plans to partici- pate in a U.S. national market through a variety of avenues. That could be directly or through partnerships, licensing or mergers and acquisition. “We’re excited and we’ll take advantage when the time is right.”


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It is a humbling and rewarding honour to receive your recognition and support in the Best Councillor category.


Councillor Blaine Hyggen Thank you Lethbridge. For all of us, 2020 was a trying year with many challenges here in


Lethbridge and around the globe. As always, I would like to thank


my Council Colleagues for their dedication and commitment to our city. Despite our differences, it’s important for our citizens to know the City staff, Council and Administration work hard every day to make Lethbridge a safer, healthier and more resilient community. I look forward to 2021, and beyond, and the opportunity to serve you for many years to come.


Nothing I do is possible without my family, so a special thank you to my wife Jen, and my daughters Jayden and Jelayna.


This role can be exhausting; one which takes away from a lot of our family time. Thank you for your patience and


understanding. You are my greatest source of strength and inspiration.


It would not be possible without you.


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