Funds to be Used for Expansion of Radient
Facility and Operations
TSX: ACB TSX-V: RTI
VANCOUVER and EDMONTON, Dec. 12,
2017 /CNW/ - Aurora Cannabis Inc. ("Aurora") (TSX: ACB)
(OTCQB: ACBFF) (Frankfurt: 21P;
WKN: A1C4WM) and Radient Technologies Inc. ("Radient) (TSX-V: RTI)
today announced that Aurora has completed its previously announced
$12 million strategic investment in
Radient.
The strategic investment was structured as follows:
- Aurora exercised all 15,856,321 common share purchase warrants
of Radient previously held by Aurora for total proceeds of
$5.8 million
- Aurora completed a private placement (the `Placement`) of
4,541,889 units for total proceeds of $6.2
million, with each unit consisting of one common share of
Radient and one common share purchase warrant. Units were priced at
$1.37. Each warrant gives Aurora the
right to purchase one common share of Radient for $1.71 for a period of 24 months.
Radient intends to use the proceeds from the financing to
accelerate plant capacity expansion and increased throughput at its
Edmonton facility, the purchase of
land adjacent to this facility for further expansion, as well as
for working capital purposes.
All securities issued in connection with the Placement are
subject to a statutory four-month hold period.
"Our relationship with and investment in Radient are important
elements in our expansion strategy considering the growing
importance of cannabis extracts," said Terry Booth, CEO of Aurora. "This partnership
clearly shows how Aurora is executing on an intelligent, vertically
integrated approach to capturing market share, which continues
successfully to generate shareholder value."
Denis Taschuk, CEO of Radient,
added "Government proposals in regard to the new Cannabis Act allow
for a much broader offering of extract-based products than was
previously the case. Our technology and our capacity expansion,
enabled through the investment from our key partner Aurora,
positions us exceptionally well for this incredibly dynamic and
rapidly growing market."
Early Warning Language
Prior to the investment Aurora held 17,245,221 common shares and
15,856,321 purchase warrants. After giving effect to the
investment, Aurora holds 37,643,431 common shares and 4,541,889
share purchase warrants of Radient representing approximately
17.23% of the issued and outstanding common shares, and 15.87% of
the issued and outstanding common shares on a fully-diluted
basis. As at the date of this press release, Radient has
218,511,520 shares issued and outstanding at closing.
Aurora acquired the securities for investment purposes. Aurora
will evaluate its investment in Radient from time to time and may,
based on such evaluation, market conditions and other
circumstances, increase or decrease shareholdings as circumstances
require through market transactions, private agreements, or
otherwise. A copy of the Early Warning report will be filed by
Aurora in connection with the acquisition and will be available on
Radient's SEDAR profile. In order to obtain a copy of the early
warning report, please contact Nilda
Rivera, Aurora's Controller, at telephone number:
604-362-5207. Aurora's registered office is located at 1500 - 1199
West Hastings St. Vancouver, British
Columbia, V6E 3T5.
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", a second 40,000 square foot high-technology production
facility known as "Aurora Vie" in Pointe-Claire, Quebec on Montreal's West Island, and is currently
constructing an 800,000 square foot production facility, known as
"Aurora Sky", at the Edmonton
International Airport, as well as is completing a fourth facility
in Lachute, Quebec through its
wholly owned subsidiary Aurora Larssen Projects Ltd.
In addition, the Company holds approximately 17.23% of the
issued shares 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".
About Radient
Radient extracts natural compounds from a range of biological
materials using microwave assisted processing ("MAP™"), a patented
technology platform which provides superior customer outcomes in
terms of ingredient purity, yield, and cost. From its 20,000 square
foot manufacturing plant in Edmonton,
Alberta, Radient serves market leaders in industries that
include cannabis, pharmaceutical, food, beverage, natural health,
personal care and biofuel markets. Visit www.radientinc.com for
more information.
On behalf of the
Board of Directors,
|
On behalf of the
Board of Directors,
|
AURORA CANNABIS
INC.
|
RADIENT TECHNOLOGIES
INC.
|
|
|
Terry
Booth
|
Denis
Taschuk
|
CEO
|
President and
CEO
|
This news release includes statements containing certain
"forward-looking information" within the meaning of applicable
securities law ("forward-looking statements"), including, but not
limited to, statements with respect to Radient's use of the
proceeds from the investment. 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. Neither Aurora
nor Radient is under any obligation, and each 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.
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.