/NOT FOR DISSEMINATION IN THE UNITED
STATES OR THROUGH U.S. NEWSWIRE SERVICES/
TSX: ACB
VANCOUVER, Oct. 10, 2017 /CNW/ - Aurora Cannabis
Inc. (the "Company" or "Aurora" or the "Issuer") (TSX: ACB) (OTCQX:
ACBFF) (Frankfurt: 21P; WKN: A1C4WM) has entered into a
revised agreement with a syndicate of underwriters led by Canaccord
Genuity Corp. (collectively, the "Underwriters"), to increase the
size of its previously announced bought deal financing to
$60 million aggregate gross proceeds
(the "Offering"), representing 20,000,000 units of the Company (the
"Units"), at a price of $3.00 per
Unit (the "Offering Price").
Each Unit will be comprised of one common share of the Company
(a "Common Share") and one common share purchase warrant (a
"Warrant"). Each Warrant will be exercisable to acquire one common
share (a "Warrant Share") for a period of 3 years following the
closing date of the Offering at an exercise price of $4.00 per Warrant Share, subject to adjustment in
certain events.
Aurora has also granted the Underwriters an option (the
"Over-Allotment Option") to purchase up to 3,000,000 additional
Units of the Company on the same terms as the Offering. If the
Over-Allotment Option is exercised in full, the aggregate gross
proceeds of the Offering will be $69,000,000.
Net proceeds from the Offering will be used primarily towards
the Company's strategic growth initiatives including continued
domestic and international expansion, and for general working
capital purposes.
The Offering is in the form of a bought deal public offering (i)
in each of the provinces of Canada
(other than Quebec), (ii) in
the United States only to
Qualified Institutional Buyers (within the meaning of Rule 144A),
and in each case in compliance with the securities laws of the
applicable states of the United
States, to investors that the Underwriters have reasonable
grounds to believe and do believe are Qualified Institutional
Buyers, and (iii) outside Canada
and the United States on a basis
which does not require the qualification or registration of any of
the Common Shares, Warrants, Warrant Shares of the Issuer.
Closing of the Offering is expected to occur on or about
November 2, 2017 and 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 Toronto Stock Exchange and the applicable
securities regulatory authorities.
The securities being offered have not been, nor will they be,
registered under the United States
Securities Act of 1933, as amended, and may not be offered
or sold in the United States or
to, or for the account or benefit of, U.S. persons absent
registration or an applicable exemption from the registration
requirements. This press release shall not constitute an offer to
sell or the solicitation of an offer to buy nor shall there be any
sale of the securities in any State in which such offer,
solicitation or sale would be unlawful.
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", 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, on Montreal's West Island.
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.