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TSXV:ACB
VANCOUVER, Jan. 24, 2017 /CNW/ - Aurora Cannabis
Inc. (the "Company" or "Aurora" or the "Issuer") (TSXV: ACB)
(OTCQB: ACBFF) (Frankfurt: 21P; WKN: A1C4WM) announced today
that it has entered into an agreement with a syndicate of
underwriters led by Canaccord Genuity Corp. (collectively, the
"Underwriters") pursuant to which the Underwriters have agreed to
purchase, on a bought deal private placement basis 22,500,000 units
of the Company (the "Units"), at a price of $2.25 per Unit (the "Offering Price") for
aggregate gross proceeds to Aurora of $50,625,000 (the "Offering").
Each Unit will be comprised of one common share of the Company
(a "Common Share") and half of one Common Share purchase warrant
(each whole Common Share purchase warrant, a "Warrant"). Each
Warrant will be exercisable to acquire one Common Share (a "Warrant
Share") for a period of two years following the closing date of the
Offering at an exercise price of $3.00 per Warrant Share, subject to adjustment in
certain events. The Warrants will be subject to a forced exercise
provision if the Company's daily volume weighted average share
price on the TSX Venture Exchange (or such other stock exchange the
Company may be trading on) is greater than $4.50 for 10 consecutive trading days. Net
proceeds from the Offering will be used primarily towards the
Company's strategic growth initiatives including its planned
facility expansion, and for general working capital purposes.
Closing of the Offering is expected to occur on or about
February 23, 2017. The Offering is in
the form of a bought deal private placement (i) in Canada to "accredited investors" within the
meaning of National Instrument 45-106 and other exempt purchasers
in each province of Canada, as
agreed upon by the Issuer and the Underwriters, (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, Warrant Shares of the Issuer.
About Aurora
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) and operates a 55,200 square foot, expandable,
state-of-the-art production facility in Mountain View County,
Alberta, Canada. Aurora trades on
the TSX Venture Exchange under the symbol "ACB".
On behalf of the Board of Directors,
AURORA CANNABIS INC.
Terry Booth
CEO
This news release contains certain "forward-looking
statements" within the meaning of such statements under applicable
securities law. Forward-looking statements are frequently
characterized by words such as "plan", "continue", "expect",
"project", "intend", "believe", "anticipate", "estimate", "may",
"will", "potential", "proposed" and other similar words, or
statements that certain events or conditions "may" or "will" occur.
These statements are only predictions. Various assumptions were
used in drawing the conclusions or making the projections contained
in the forward-looking statements throughout this news release.
Forward-looking statements are based on the opinions and estimates
of management at the date the statements are made, and are subject
to a variety of risks and uncertainties and other factors that
could cause actual events or results to differ materially from
those projected in the forward-looking statements. The Company is
under no obligation, and expressly disclaims any intention or
obligation, to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise,
except as expressly required by applicable law.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
SOURCE Aurora Cannabis Inc.