TSX: ACB
EDMONTON, Sept. 19, 2018 /CNW/ - Aurora Cannabis Inc.
("Aurora" or the "Company") (TSX: ACB) (OTCQB: ACBFF) (Frankfurt: 21P; WKN: A1C4WM), today announced
that it has completed its previously announced distribution of
Australis shares and warrants (the "Distribution"). The
distribution was completed on September
19, 2018, and the Australis shares and warrants will
commence trading on the CSE under the symbol "AUSA" effective at
the market open today.
In accordance with the terms of the Distribution, eligible
Aurora shareholders were paid one unit of Australis for every 34
Aurora shares outstanding as at August 24,
2018 (the "Record Date). Each unit consists of one common
share and one share purchase warrant of Australis. Each warrant
entitles the holder thereof to acquire one share at an exercise
price of $0.25 per Australis share,
on or prior to 4:00 p.m. (Eastern
Time) on the date that is one year after the
Distribution.
As described in further detail in the Final Prospectus, no units
were issued to shareholders who are (or were deemed to be)
non-residents of Canada. Rather,
such units have been delivered to a custodian for sale in the open
market following the Distribution, and the net cash proceeds will
be delivered to non-resident shareholders, net of any withholding
taxes.
Following the distribution, Aurora has no direct ownership
interest in Australis, and the company is an independently
operating entity. Aurora, however, does hold two warrants, allowing
the Company to acquire an ownership interest at such time in the
future (within 10 years) when holding investments in U.S. cannabis
assets will become permissible.
"With the completion of this distribution we have
delivered an immediate return of capital to Aurora shareholders
while enabling the Australis team to proceed with their mandate to
invest in U.S. cannabis assets with high growth potential," said
Terry Booth, CEO of Aurora.
"Australis' management, board of directors and investment committee
are well positioned to leverage their collective knowledge and
extensive experiences to rapidly execute on the tremendous
opportunity ahead to generate substantial long-term shareholder
value."
Scott Dowty, CEO of Australis,
added, "We will leverage the opportunities created by a fragmented
U.S. cannabis market with limited access to growth capital. We have
not wasted time and have already identified a number of strong
assets within this market that we believe have high growth
potential. With the completion of our over-subscribed private
placement, we have the funds to start executing on these
opportunities immediately and deliver growth."
About Aurora
Headquartered in Edmonton, Alberta,
Canada with funded capacity in excess of 500,000 kg per year
and sales and operations in 18 countries across five continents,
Aurora is one of the world's largest and leading cannabis
companies. Aurora is vertically integrated and horizontally
diversified across every key segment of the value chain, from
facility engineering and design to cannabis breeding and genetics
research, cannabis and hemp production, derivatives, high value-add
product development, home cultivation, wholesale and retail
distribution.
Highly differentiated from its peers, Aurora has established a
uniquely advanced, consistent and efficient production strategy,
based on purpose-built facilities that integrate leading-edge
technologies across all processes, defined by extensive automation
and customization, resulting in the massive scale production of
high quality product at ultra-low costs. Intended to be replicable
and scalable globally, these production facilities are designed to
produce cannabis of significant scale, with high quality,
industry-leading yields, and ultra-low per gram production costs.
Each of Aurora's facilities is built to meet European Union (EU)
GMP standards, and its first production facility, the recently
acquired MedReleaf Markham facility, and its wholly owned European
medical cannabis distributor Aurora Deutschland (formerly
Pedanios), have achieved this level of certification.
In addition to the Company's rapid organic growth and strong
execution on strategic M&A, which to date includes 15 companies
– MedReleaf, CanvasRX, Peloton Pharmaceutical, Aurora
Deutschland (formerly Pedanios), H2 Biopharma, Urban Cultivator, BC
Northern Lights, Larssen Greenhouses, CanniMed Therapeutics,
Anandia Labs, HotHouse Consulting, Agropro, Borela, and the pending
acquisition of ICC Labs – Aurora is distinguished by its reputation
as a partner of choice and employer of choice in the global
cannabis sector, having invested in and established strategic
partnerships with a range of leading innovators, including: The
Green Organic Dutchman Holdings Ltd. (TSX: TGOD), Radient
Technologies Inc. (TSXV: RTI), Hempco Food and Fiber Inc. (TSXV:
HEMP), Cann Group Ltd. (ASX: CAN), Micron Waste Technologies Inc.
(CSE: MWM), Choom Holdings Inc. (CSE: CHOO), Namaste Technologies
Inc. (TSXV: N), Evio Beauty Group (private), Wagner Dimas
(private), CTT Pharmaceuticals (OTCC: CTTH), and Alcanna Inc. (TSX:
CLIQ).
Aurora's Common Shares trade on the TSX under the symbol "ACB",
and are a constituent of the S&P/TSX Composite Index.
For more information about Aurora, please visit our investor
website, investor.auroramj.com, Twitter, Facebook or Instagram
Terry Booth, CEO
Aurora Cannabis Inc.
About Australis
Australis Capital identifies and invests in the cannabis
industry predominately in the United
States, a highly regulated, fragmented, fast growing and
evolving industry. Investments may include and are not limited to
equity, debt or other securities of both public and private
companies, financings in exchange for royalties or other
distribution streams, and control stake acquisitions. Australis
Capital adheres to stringent investment criteria and will focus on
significant near and mid-term high-quality opportunities with
strong return potentials while maintaining a steadfast commitment
to governance and community. Australis Capital's Board, Management
and Advisory Committee members have material experience with, and
knowledge of, the cannabis space in the U.S., extensive backgrounds
in highly regulated industries, adherence to stringent regulatory
compliance, public company and operational expertise. For more
information, please visit us at www.ausacap.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 and include, but are not limited to:
statements in respect of the timing and details of the
Distribution, the financial prospects of Australis, the listing of
Australis Shares and Warrants on the CSE and the terms of the
Restricted Back-in Right. 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. Investors should refer to the final
prospectus filed by Australis in connection with the Distribution
for more information, in particular the risk factors described
therein under the heading "Risk Factors". 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.
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.