Ayurcann Holdings Corp (OTC:AYURF) Stock In Focus After Recent News

If you are looking into options in the cannabis space then the Ayurcann Holdings Corp (OTC:AYURF) stock could be one to watch out for. The Canadian cannabis extraction firm is involved in the processing of pharmaceutical grade hemp and cannabis, which are used to produce Cannabis 2.0 and Cannabis 3.0 products. Those products are meant for the recreational and medical markets.

This past Friday the company was in the news cycle after it provided some key corporate updates. It may be a good idea to take a look into some of the highlights. The company revealed that it was working on the expansion of its core SKUs (stock keeping units) listings owing to the growth in cannabis market. The listings in question would include pre-roll, vape, milled flower and concentrates. In the news release Ayurcann Holdings noted that as many as 20 new SKUs were expected to be launched in the Newfoundland and Ontario markets over the course of the coming six months.

The company stated that through the expansion of its portfolio, it sought to gain further market share and strengthen its position in the Canadian cannabis market. It was also noted that the company would remain committed to building strategic partnerships throughout 2024. On that particular front, the company would be especially focussed on new opportunities in Quebec and Nova Scotia.

Additionally, the company would also work on further growing its existing listings across Canada. Ayurcann Holdings also announced that it had granted stock options as well as restricted share units in line with its equity incentive plan. It was revealed that the company had granted a total of 700 stock options to go along with 550000 restricted share units. The company also revealed that it had settled debts to the tune of $756000 through the issuance of 30240000 common shares. That allowed Ayurcann Holdings to preserve its cash position.