/NOT FOR DISSEMINATION IN THE UNITED
STATES OR THROUGH U.S. NEWSWIRE SERVICES/
TSXV:ACB
VANCOUVER, April 11, 2017 /CNW/ - Aurora Cannabis Inc.
(the "Company" or "Aurora") (TSXV: ACB) (OTCQB:
ACBFF) (Frankfurt: 21P; WKN: A1C4WM) announced today that it
has entered into a revised agreement with Canaccord Genuity Corp.,
on behalf of a syndicate of underwriters (the
"Underwriters"), to increase the size of its previously
announced bought deal private placement of convertible debentures
to $75 million aggregate principal
amount of convertible debentures (the "Debentures") at a
price of $1,000 per Convertible
Debenture (the "Offering").
The Debentures will bear interest from the date of closing at 7%
per annum, payable semi-annually on June
30 and December 31 of each
year. The Debentures mature on the date that is 24 months following
the Closing Date (as defined below) of the Offering (the
"Maturity Date"). Net proceeds from the Offering will be
used primarily towards international expansion and growth
opportunities.
The 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 Maturity Date at a
conversion price of $3.29 per Common
Share (the "Conversion Price"). Beginning on the date that
is four months and one day following the Closing Date, the Company
may force the conversion of the then outstanding principal amount
of the Debentures at the Conversion Price on 30 days prior written
notice should the daily volume weighted average trading price of
the Common Shares be greater than $4.94 for any 10 consecutive trading days.
The Debentures will be subject to redemption, in whole or in
part, by the Company at any time after 12 months upon giving
holders not less than 30 and not more than 60 days' prior written
notice, at a price equal to the then outstanding principal amount
of the Debentures plus all accrued and unpaid interest up to and
including the redemption date. Upon a change of control of the
Company, holders of the Debentures will have the right to require
the Company to repurchase their Convertible Debentures, in whole or
in part, on the date that is 30 days following the giving of notice
of the change of control, at a price equal to 100% of the principal
amount of the Debentures then outstanding plus accrued and unpaid
interest thereon (the "Offer Price"). If 90% or more of the
principal amount of the Debentures outstanding on the date of the
notice of the change of control have been tendered for redemption,
the Company will have the right to redeem all of the remaining
Debentures at the Offer Price.
The Debentures and any Common Shares issuable upon conversion
thereof, will be subject to a statutory hold period lasting four
months and one day following the Closing Date.
Closing of the Offering is expected to occur on or about
April 26, 2017 (the "Closing
Date"). The Offering is subject to certain conditions
including, but not limited to, the receipt of all necessary
regulatory and stock exchange approvals, including the approval of
the TSX Venture Exchange.
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, is currently constructing a second 800,000 square
foot production facility, known as "Aurora Sky", at the
Edmonton International Airport,
and has acquired and is undertaking completion of a third 40,000
square foot production facility in Pointe
Claire, Quebec, near Montreal. In addition, the company 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's common shares trade on the
TSX-V 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
anticipated timing for closing of the Offering and the anticipated
use of proceeds of the Offering. 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.
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.