Aurora Cannabis Plans to Complete Construction of Aurora Sun Despite Layoffs
Aurora Cannabis (NYSE: ACB) confirmed last week that the company is not abandoning the development of its Aurora Sun facility in Medicine Hat, Alberta. Despite announcing that it was laying off 500 employees and that its CEO Terry Boot was resigning, Medicine Hat's Mayor Ted Clugston said he spoke with the company and that the facility is still a priority for Aurora.
Aurora did not offer an update via press release on the facility but the mayor said in a news report, "The place still is under construction and they do intend to finish the six bays that they always intended to finish which was in their November announcement."
Aurora initially announced in November that it would halt construction on two of its facilities in order to save cash. The company expected to save as much as 110 million Canadian dollars by deferring the construction of Aurora Sun and another CA$80 million from halting construction on Aurora Nordic 2 in Denmark.
Source Fool.com
