TSX: ACB TSX: CMED
EDMONTON, April 13, 2018 /CNW/ - Aurora Cannabis Inc.
("Aurora") (TSX: ACB) (OTCQB: ACBFF) (Frankfurt: 21P; WKN: A1C4WM) announced today
that the Company has exercised its right under the compulsory
acquisition provisions in Section 206 of the Canada Business
Corporations Act (the "Act") to acquire all of the
outstanding common shares (the "CanniMed Shares") of
CanniMed Therapeutics Inc. (TSX: CMED) ("CanniMed") that it
did not acquire under its recently completed offer (the
"Offer") to acquire all of the issued and outstanding
CanniMed Shares, by mailing a notice of compulsory acquisition (the
"Notice of Compulsory Acquisition") to all remaining
registered holders of CanniMed Shares. The compulsory acquisition
is expected to be completed shortly after April 30, 2018. Intermediaries on behalf of
beneficial holders will receive a notice from CDS.
Under the compulsory share acquisition, CanniMed shareholders
must make an election no later than 5:00
p.m. on April 30, 2018 in
accordance with the procedures in the Notice of Compulsory
Acquisition mailed to registered shareholders, a copy of which is
available under CanniMed's profile at www.SEDAR.com, and Section
206 of the Act.
To elect to receive the same consideration as that provided
pursuant to the Offer, consisting of either 3.40 common shares of
Aurora (the "Aurora Shares") (the "Share
Alternative") or $43.00 in cash,
subject to pro-ration (the "Cash Alternative"), per CanniMed
Share, or any combination of Aurora Shares and cash based on a
maximum of $43.00 in cash per
CanniMed Share, with the cash being subject to the same pro-ration
as the Cash Alternative (the "Share and Cash Alternative"),
CanniMed shareholders must complete the letter of transmittal
accompanying the Notice of Compulsory Acquisition and deliver it
with the certificate(s) representing such shareholder's CanniMed
Shares to Laurel Hill Advisory Group ("Laurel Hill") prior to 5:00 p.m. on April 30,
2018. Cash proration will be based on maximum cash available
of approximately $6.0 million.
Shareholders who fail to elect will be deemed to have elected
to receive Aurora Shares on the basis of 3.40 Aurora Shares for
each CanniMed Share held.
Beneficial holders of CanniMed Shares must contact their broker
for assistance in making their election. Questions and requests for
assistance, including requests for additional copies of the Notice
of Compulsory Acquisition and related letter of transmittal may be
directed to Laurel Hill at 1-877-452-7184 for North America Toll
Free or at 1-416-304-0211 for Collect Calls Outside North America
(assistance@laurelhill.com).
Aurora has taken up and paid for 23,512, 487 CanniMed Shares
held by those shareholders who accepted the Offer and which
represent approximately 93.1% of the outstanding CanniMed Shares.
Aurora also purchased 700,600 CanniMed Shares in the open market
during the period of the Offer, and in aggregate holds 95.9% of the
outstanding CanniMed Shares.
Upon completion of the compulsory acquisition, Aurora intends to
take the necessary steps to delist the CanniMed Shares from the TSX
V and to have CanniMed cease to be a reporting issuer (or
equivalent) under applicable Canadian securities law.
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 Inc.
Aurora is close to completion of the acquisition of all the
outstanding shares of CanniMed Therapeutics Inc, Canada's most experienced licensed producer of
medical cannabis, adding over 20,000 kg per annum in funded
capacity, as well as Canada's
strongest medical cannabis brand.
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".
About CanniMed Therapeutics
CanniMed is a Canadian-based, international plant
biopharmaceutical company and a leader in the Canadian medical
cannabis industry, with 17 years of pharmaceutical cannabis
cultivation experience, state-of-the-art, GMP-compliant production
process and world class research and development platforms with a
wide range of pharmaceutical-grade cannabis products.
CanniMed, through its subsidiaries, was the first producer to be
licensed under the Marihuana for Medical Purposes Regulations, the
predecessor to the current Access to Cannabis for Medical Purposes
Regulations. It was the sole supplier to Health
Canada under the former medical marijuana system for 13 years
and has been producing safe and consistent medical cannabis for
thousands of Canadian patients, with no incident of product
diversion or recalls.
For more information, please visit our
websites: www.cannimed.ca
Forward looking statements
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 companies are under no obligation,
and expressly disclaim 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.
AURORA CANNABIS
INC.
|
CanniMed Therapeutics
Inc
|
Terry
Booth
|
André
Jérôme
|
CEO
|
Interim
CEO
|
SOURCE Aurora Cannabis Inc.