As the initially anniversary of Canadian cannabis legalization is on the horizon and each stock value and quarterly earnings reports continue to disappoint, main licensed producers are on the hunt for additional funding though ramping up production. 

Now the Edmonton-primarily based Aurora Cannabis Inc. (NYSE: ACB TSX: ACB) secured a new line of funding by upsizing an current credit facility with a group of lenders operating alongside the Bank of Montreal. 

The original $200 million funding is bumping up by an additional CAD$160 million by way of a mixture of a revolving credit facility and term loans, which will mature in August two years from the date of closing. 

Aurora’s Chief Economic Officer Glen Ibbott issued this statement about the improved funding line: 

The upsizing of our credit facility and broadening of the lending syndicate to consist of more Schedule 1 Canadian Banks is additional recognition that our very best-in-class production facilities lead the sector. Access to this non-dilutive capital is a core funding supply the firm intends to make use of as it additional executes on its strategic development initiatives.

Final week Aurora released preliminary fiscal Q4 2019 monetary information, estimating the firm will show income of $100 million for the quarter ending June 30. 

With licensed costs nonetheless larger across the board than non-licensed sources and producers waiting on new regulations to arrive so legalized edible and vape sales can commence in earnest, stock costs across the Canadian cannabis sector have been on a clear downward trajectory in current months. 

Aurora’s stock has followed that sector-wide trend, steadily decreasing from a higher of $9.94 in March down to a value of $five.70 a share as of Thursday evening. 

Searching to expand internationally and locate new income streams, Aurora recently struck a deal to supply healthcare cannabis to Italian individuals by way of European subsidiary Aurora Deutschland, and furthermore kicked off a  CBD analysis project with U.S.-primarily based mixed martial arts organization UFC. 

On the Canadian side of operations, Aurora is at the moment seeking into new outside develop operations to supplement current indoor facilities. The firm received Wellness Canada approval for two outside develop web sites in Quebec and British Columbia, which will be unlikely to see complete scale harvests till subsequent year.