23:26:22 EST Sun 29 Nov 2020
Enter Symbol
or Name
USA
CA



Login ID:
Password:
Save
Aurora Cannabis Inc
Symbol ACB
Shares Issued 371,071,668
Close 2017-10-06 C$ 3.03
Recent Sedar Documents

Aurora Cannabis arranges $50.1-million bought deal

2017-10-10 07:47 ET - News Release

Mr. Terry Booth reports

AURORA CANNABIS ANNOUNCES $50 MILLION BOUGHT DEAL FINANCING

Aurora Cannabis Inc. has entered into an agreement with a syndicate of underwriters led by Canaccord Genuity Corp., pursuant to which the underwriters have agreed to purchase, on a bought deal basis, 16.7 million units of the company at a price of $3 per unit for aggregate gross proceeds to Aurora of $50.1-million.

Each unit will comprise one common share of the company and one common share purchase warrant. Each warrant will be exercisable to acquire one common share for a period of three years following the closing date of the offering at an exercise price of $4 per warrant share, subject to adjustment in certain events.

Aurora has also granted the underwriters an option to purchase up to 2,505,000 additional units of the company on the same terms as the offering. If the overallotment option is exercised in full, the aggregate gross proceeds of the offering will be $57,615,000.

Net proceeds from the offering will be used primarily toward the company's strategic growth initiatives, including continued domestic and international expansion, and for general working capital purposes.

"This financing ensures that we have the financial horsepower we need to keep going at full throttle, and continue seizing and capitalizing on attractive growth opportunities in Canada and around the world," said Terry Booth, chief executive officer. "With Aurora's excellent balance sheet and what we believe is the strongest cash position in the industry, we are ideally positioned to further accelerate our aggressive growth strategy, further expand production capacity and enter multiple new international markets. Aurora will continue to push the pace, with agility, innovation and disciplined execution, and set the benchmark as a globally dominant cannabis company."

The offering is in the form of a bought deal public offering: (i) in each of the provinces of Canada (other than Quebec); (ii) in the United states only to qualified institutional buyers (within the meaning of Rule 144A), and in each case in compliance with the securities laws of the applicable states of the United States, to investors that the underwriters have reasonable grounds to believe and do believe are qualified institutional buyers; and (iii) outside Canada and the United States on a basis which does not require the qualification or registration of any of the common shares, warrants and warrant shares of the issuer.

Closing of the offering is expected to occur on or about Nov. 2, 2017, and is subject to certain conditions, including, but not limited to, the receipt of all necessary regulatory and stock exchange approvals, including the approval of the Toronto Stock Exchange and the applicable securities regulatory authorities.

About Aurora Cannabis Inc.

Aurora's wholly owned subsidiary, Aurora Cannabis Enterprises Inc., is a licensed producer of medical cannabis pursuant to Health Canada's Access to Cannabis for Medical Purposes Regulations (ACMPR). The company operates a 55,200-square-foot, state-of-the-art production facility in Mountain View county, Alberta, known as Aurora Mountain, is currently constructing a second 800,000-square-foot production facility, known as Aurora Sky, at the Edmonton International Airport, and has acquired and is undertaking completion of a third 40,000-square-foot production facility in Pointe-Claire, Que., on Montreal's West Island.

In addition, the company holds approximately 9.6 per cent of the issued shares (12.9 per cent on a fully diluted basis) in leading extraction technology company Radient Technologies Inc., based in Edmonton, and is in the process of completing an investment in Edmonton-based Hempco Food and Fiber for an ownership stake of up to 50.1 per cent. Furthermore, Aurora is the cornerstone investor with a 19.9-per-cent stake in Cann Group Ltd., the first Australian company licensed to conduct research on and cultivate medical cannabis.

We seek Safe Harbor.

© 2020 Canjex Publishing Ltd. All rights reserved.