Aurora Cannabis Inc. (the “Company” or “Aurora”) (NYSE | TSX: ACB),
the Canadian company defining the future of cannabinoids worldwide,
announced today that it will be filing a preliminary prospectus
supplement (the “Preliminary Supplement”) to its short form base
shelf prospectus dated October 28, 2020 (the “Base Shelf
Prospectus”) relating to a proposed overnight marketed public
offering (the “Offering”) of units of the Company (the “Units”) at
a price of US$7.50 per Unit for total gross proceeds to the Company
of approximately US$125 million.
Each Unit will be comprised of one common share
of the Company (a “Common Share”) and one half of one common share
purchase warrant of the Company (each full common share purchase
warrant, a “Warrant”). Each Warrant will be exercisable to acquire
one common share of the Company (a “Warrant Share”) for a period
of 40 months following the closing date of the Offering at an
exercise price of US$9.00 per Warrant Share, subject to
adjustment in certain events.
The final terms of the Offering are to be
determined at the time of pricing. There can be no assurance as to
whether or when the Offering may be completed, or as to the actual
size or terms of the Offering. The closing of the Offering will be
subject to market and other customary conditions, including
approvals of the Toronto Stock Exchange and the New York Stock
Exchange.
In addition, the Company intends to grant the
underwriters a 30-day option to purchase up to an additional 15% of
the Units offered in the proposed Offering on the same terms and
conditions. This option may be exercised by the underwriters for
additional Units, Common Shares, Warrants or any combination of
such securities.
The Company expects to use the net proceeds from
the Offering, if any, to fund growth opportunities, working capital
and other general corporate purposes.
BMO Capital Markets and ATB Capital Markets are
acting as the bookrunners for the Offering.
The Preliminary Supplement will be filed with
the securities commissions or similar securities regulatory
authorities in each of the provinces of Canada, except Quebec, and
with the U.S. Securities and Exchange Commission (the “SEC”) as
part of the Company’s registration statement on Form F-10 (the
“Registration Statement”) under the U.S./Canada Multijurisdictional
Disclosure System. The Preliminary Supplement, the Base Shelf
Prospectus and the Registration Statement contain important
detailed information about the Company and the proposed Offering.
Prospective investors should read the Preliminary Supplement, the
Base Shelf Prospectus and the Registration Statement and the other
documents the Company has filed for more complete information about
the Company and this Offering before making an investment
decision.
Copies of the Preliminary Supplement, following
filing thereof, and the Base Shelf Prospectus will be available on
SEDAR at www.sedar.com and copies of the Preliminary Supplement and
the Registration Statement will be available on EDGAR at
www.sec.gov. Copies of the Preliminary Supplement, following filing
thereof, the Base Shelf Prospectus and the Registration Statement
may also be obtained from BMO Capital Markets by contacting BMO
Capital Markets, Brampton Distribution Centre C/O The Data Group of
Companies, 9195 Torbram Road, Brampton, Ontario, L6S 6H2 or by
telephone at (905) 791-3151 Ext 431 or by email at
torbramwarehouse@datagroup.ca or from BMO Capital Markets Corp.,
Attn: Equity Syndicate Department, 3 Times Square, 25th Floor, New
York, NY 10036 (Attn: Equity Syndicate), or by telephone at (800)
414-3627 or by email at bmoprospectus@bmo.com. Copies of such
documents may also be obtained from ATB Capital Markets Inc., Attn:
Gail O'Connor, 410-585 8th Ave SW, Calgary, Alberta, T2P 1G1, (403)
539-8629 or by email from atbcm_dealflow@atb.com.
No securities regulatory authority has either
approved or disapproved of the contents of this press release. This
press release is for information purposes only and shall not
constitute an offer to sell or the solicitation of an offer to buy,
nor shall there be any sale of these securities in any state or
jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction.
About Aurora
Aurora is a global leader in the cannabis
industry serving both the medical and consumer markets.
Headquartered in Edmonton, Alberta, 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. For more
information, please visit our website at www.auroramj.com.
Aurora’s common shares trade on the TSX and NYSE
under the symbol “ACB”, and is a constituent of the S&P/TSX
Composite Index.
Further Information
For
Media: |
|
For
Investors: |
|
|
|
Michelle Lefler |
|
ICR, Inc. |
VP, Communications & PR |
|
Investor Relations |
media@auroramj.com |
|
aurora@icrinc.com |
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.
Forward-looking statements made in this news release include
statements regarding: the timing, pricing, and completion of the
Offering and the expected use of proceeds of the Offering. These
forward-looking 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, estimates and assumptions of management in light of
management's experience and perception of historical trends,
current conditions and expected developments at the date the
statements are made, such as current and future market conditions,
the ability to maintain SG&A costs in line with current
expectations, the ability to achieve high margin revenues in the
Canadian consumer market, the current and future regulatory
environment and future approvals and permits. Forward-looking
statements are subject to a variety of risks, uncertainties and
other factors that management believes to be relevant and
reasonable in the circumstances could cause actual events, results,
level of activity, performance, prospects, opportunities or
achievements to differ materially from those projected in the
forward-looking statements, including the risks associated with:
entering the U.S. market, the ability to realize the anticipated
benefits associated with the acquisition of Reliva, achievement of
Aurora’s business transformation plan, general business and
economic conditions, changes in laws and regulations, product
demand, changes in prices of required commodities, competition, the
effects of and responses to the COVID-19 pandemic and other risks,
uncertainties and factors set out under the heading “Risk Factors”
in the Company’s annual information form dated September 24, 2020
(the “AIF”) and filed with Canadian securities
regulators available on the Company’s issuer profile on SEDAR at
www.sedar.com and filed with and available on the SEC’s website at
www.edgar.gov. The Company cautions that the list of risks,
uncertainties and other factors described in the AIF is not
exhaustive and other factors could also adversely affect its
results. Readers are urged to consider the risks, uncertainties and
assumptions carefully in evaluating the forward-looking statements
and are cautioned not to place undue reliance on such information.
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 securities
law.
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