VANCOUVER, Nov. 15, 2017 /CNW/ - Aurora Cannabis Inc. – (the
"Company" or "Aurora") (TSX: ACB) announced today that the Company
has elected to exercise its right under the warrant indenture (the
"Indenture") governing the common share purchase warrants of the
Company (the "Warrants") issued on February
28, 2017. Pursuant to the terms of the Indenture, the
Company may accelerate the expiry date of the Warrants when the
volume weighted average closing price (the "VWAP") of the common
shares of the Company (the "Common Shares") on the Toronto Stock
Exchange (the "Exchange") for 10 consecutive trading days exceeds
$4.50.
As of the close of markets on November
14, 2017, the VWAP of the Common Shares on the Exchange for
10 consecutive trading days equalled $5.01. Effective today, the Warrants are set to
expire at 5:00 p.m. (Vancouver time) on Friday, December 15, 2017. This news release
constitutes notice to Warrant holders of the new expiry
date. Any Warrants remaining unexercised after the new expiry
date will be cancelled.
As of close of market November 14,
2017, a total of 16,946,690 warrants of the 17,251,640
originally issued had yet to be exercised. Each Warrant is
exercisable to acquire one Common Share of the Company at an
exercise price of $3.00. Consequently, if all Warrants are
exercised, proceeds will total $50,840,070.
"The ability to accelerate the expiry of these warrants is an
indicator of Aurora's powerful growth and increase in shareholder
value," said Terry Booth, CEO. "It
adds significant additional capital to our exceptional cash
position, with which we intend to continue our aggressive domestic
and international expansion strategy."
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"). The Company operates a 55,200 square foot,
state-of-the-art production facility in Mountain View County,
Alberta, known as "Aurora
Mountain", a second 40,000 square foot high-technology production
facility known as "Aurora Vie" in Pointe-Claire, Quebec on Montreal's West Island, and is currently
constructing an 800,000 square foot production facility, known as
"Aurora Sky", at the Edmonton
International Airport.
In addition, the Company holds approximately 9.6% of the issued
shares (12.9% 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%.
Furthermore, Aurora is the cornerstone investor with a 19.9% stake
in Cann Group Limited, the first Australian company licensed to
conduct research on and cultivate medical cannabis. Aurora also
owns Pedanios, a leading wholesale importer, exporter, and
distributor of medical cannabis in the European Union, based in
Germany. The Company offers
further differentiation through its acquisition of BC Northern
Lights Ltd. and Urban Cultivator Inc., industry leaders,
respectively, in the production and sale of proprietary systems for
the safe, efficient and high-yield indoor cultivation of cannabis,
and in state-of-the-art indoor gardening appliances for the
cultivation of organic microgreens, vegetables and herbs in home
and professional kitchens. Aurora's common shares trade on the TSX
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 include, but are not limited to, the
successful completion of the Offering and the use of proceeds of
the Offering and the Company's intention to continue international
and domestic expansion. 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. A
more complete discussion of the risks and uncertainties facing the
Company appears in the Company's Annual Information Form and
continuous disclosure filings, which are available at
www.sedar.com.
Neither TSX nor its Regulation Services Provider (as that
term is defined in the policies of Toronto Stock Exchange) accepts
responsibility for the adequacy or accuracy of this
release.
SOURCE Aurora Cannabis Inc.