An anonymous director reports
AURORA ANNOUNCES FILING OF PROSPECTUS SUPPLEMENT FOR AT-THE-MARKET OFFERING PROGRAM
Aurora Cannabis Inc. has filed a prospectus supplement establishing a new at-the-market equity program that allows the company to issue and sell up to $300-million (U.S.) of common shares in the capital of the company from treasury to the public, from time to time, at the company's discretion. Any common share sales under the ATM program will be made through at-the-market distributions as defined in National Instrument 44-102 and sold through the Nasdaq Global Select Market or other marketplace in the United States at the prevailling market price at the time of sale. Sales may also be made in privately negotiated transactions. No sales will be made through a stock exchange or stock market in Canada.
Aurora believes this filing will provide maximum flexibility for the company to pursue select acquisitions going forward, including within the U.S. Aurora confirms that its current cash position remains strong at approximately $525-million as of May 13, 2021. Given the strength of Aurora's current cash position, it is not expected to need to access the ATM program without an accretive use of proceeds.
Distributions of the common shares through the ATM program will be made pursuant to the terms of a sales agreement dated May 19, 2021, among the company and a syndicate of agents led by Citigroup Global Markets Inc. and Cowen and Co. LLC, and including BMO Capital Markets Corp., ATB Capital Markets USA Inc. and Canaccord Genuity LLC.
A prospectus supplement to the company's short form base shelf prospectus dated Oct. 28, 2020, has been filed with the securities commissions or securities regulatory authorities in each of the provinces of Canada, except Quebec, and with the U.S. Securities and Exchange Commission as part of the company's registration statement on Form F-10 under the U.S./Canada Multijurisdictional Disclosure System. The prospectus supplement, the base shelf prospectus and the registration statement contain important detailed information about the company and the ATM program. Prospective investors should read the prospectus supplement, the base shelf prospectus, the registration statement and the other documents the company has filed for more complete information about the company and the ATM offering before making an investment decision. Copies of the prospectus supplement and the base shelf prospectus are available on SEDAR, and copies of the prospectus supplement and the registration statement will be available on EDGAR.
Aurora is a global leader in the cannabis industry serving both the medical and consumer markets. Headquartered in Edmonton, Alta., Aurora is a pioneer in global cannabis dedicated to helping people improve their lives. The company's brand portfolio includes Aurora, Aurora Drift, San Rafael '71, Daily Special, AltaVie, MedReleaf, CanniMed, Whistler and Reliva CBD. Providing customers with innovative, high-quality cannabis products, Aurora's brands continue to break through as industry leaders in the medical, performance, wellness and recreational markets wherever they are launched.
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