/NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRE
SERVICES/
Special Underwriters Accommodation due to
Significant Demand Bought Deal
No commissions payable
TSX: ACB
VANCOUVER, Oct. 16, 2017 /CNW/ - Aurora Cannabis Inc. (the
"Company" or "Aurora" or the "Issuer") (TSX: ACB) (OTCQX: ACBFF)
(Frankfurt: 21P; WKN: A1C4WM) today announced that further to
the Company's previously announced $60
million bought deal financing, as announced and upsized on
October 10, 2017 (the "Bought Deal"),
the Company has agreed to a one-time special accommodation for
the benefit of its underwriters due to very significant demand for
the Bought Deal, to proceed with a concurrent, non-commissioned,
non-brokered private placement of up to 2,000,000 units of
the Company (the "Units") at a price of $3.00 per Unit (the "Offering").
Each Unit, free of any commission to Aurora, 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.
If the Offering is subscribed for in full, it will provide
Aurora with net proceeds of $6,000,000 due to the special and one-time
commission free accommodation reached with its underwriters. The
Common Shares and Warrants shall be subject to a 4 month hold
period. Closing of the Offering is anticipated to occur at the same
time as the closing of the Bought Deal, which is expected 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.