TSX: ACB
VANCOUVER, March 9, 2018 /CNW/ - Aurora Cannabis Inc.
("Aurora") (TSX: ACB) (OTCQB: ACBFF) (Frankfurt: 21P; WKN: A1C4WM) today announced
that, further to its news release dated January 5, 2018, the Company has completed its
bought deal offering for gross proceeds of $230 million, including the exercise, in full, of
the Underwriters' over-allotment option (the "Offering"), comprised
of 5% unsecured convertible debentures (the "Debentures") of Aurora
at the issue price of $1,000 per
Debenture, with a syndicate of underwriters, led by Canaccord
Genuity Corp. and PI Financial Corp., including Beacon Securities
Limited, Eight Capital, GMP Securities L.P. and Mackie Research
Capital Corporation (collectively, the "Underwriters").
The Convertible Debentures will have a maturity date of two
years from the closing date of the Offering (the "Maturity Date")
and will bear interest from the date of closing at 5.0% per annum,
payable semi-annually on June 30 and December
31 of each year. The Convertible Debentures will be
convertible, at the option of the holder, into common shares of the
Company ("Common Shares") at any time prior to the close of
business on the last business day immediately preceding the
Maturity Date at a conversion price of $13.05 per Common
Share (the "Conversion Price"). The Company may force the
conversion of the principal amount of the then outstanding
Convertible Debentures at the Conversion Price on not less than 30
days' notice should the daily volume weighted average trading price
of the Common Shares be greater than $17.00 for any 10
consecutive trading days. Further details on the debentures can be
found in the Company's filings on www.sedar.com.
The Company intends to use the net proceeds of the Offering for
various investment purposes to drive further growth, including part
of the cash portion of the CanniMed Therapeutics Inc. acquisition,
part of the Company's contribution to the construction cost of the
planned 1,000,000 square foot cannabis production facility Aurora
Nordic in Denmark, as well as
other domestic and international opportunities.
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", and a second 40,000 square foot high-technology
production facility known as "Aurora Vie" in Pointe-Claire, Quebec on Montreal's West Island. In January 2018, Aurora's 800,000 square foot
flagship cultivation facility, Aurora Sky, located at the
Edmonton International Airport,
was licensed. Once at full capacity, Aurora Sky is expected to
produce over 100,000 kg per annum of cannabis. Aurora is completing
a fourth facility in Lachute,
Quebec utilizing its wholly owned subsidiary Aurora Larssen
Projects Ltd.
Aurora also owns Berlin-based
Pedanios, the leading wholesale importer, exporter, and distributor
of medical cannabis in the European Union. The Company owns 51% of
Aurora Nordic, which will be constructing a 1,000,000 square foot
hybrid greenhouse in Odense,
Denmark. 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 holds a 19.88% ownership interest in Liquor Stores N.A.,
who intend to develop a cannabis retail network in Western Canada. In addition, the Company holds
approximately 17.23% of the issued shares in leading extraction
technology company Radient Technologies Inc., and has a strategic
investment in Hempco Food and Fiber Inc., with options to increase
ownership stake to over 50%. Aurora is also the cornerstone
investor in two other licensed producers, with a 22.9% stake in
Cann Group Limited, the first Australian company licensed to
conduct research on and cultivate medical cannabis, and a 17.62%
stake in Canadian producer The Green Organic Dutchman Ltd., with
options to increase to majority ownership.
Aurora's Common Shares trade on the TSX under the symbol
"ACB".
On behalf of the Boards of Directors,
AURORA CANNABIS INC.
Terry Booth
CEO
This news release includes statements containing certain
"forward-looking information" within the meaning of applicable
securities law ("forward-looking statements"). 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 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.