NYSE | TSX: ACB
EDMONTON, AB, Nov. 16, 2020 /CNW/ - Aurora Cannabis Inc.
(the "Company" or "Aurora") (NYSE: ACB) (TSX: ACB), the Canadian
company defining the future of cannabinoids worldwide, announced
today the closing of its previously announced overnight marketed
public offering (the "Offering") of units of the Company (the
"Units") for total gross proceeds of US$172,500,000. The Company sold 23,000,000 Units
at a price of US$7.50 per Unit,
including 3,000,000 Units sold pursuant to the exercise in full of
the underwriters' over-allotment option.
Each Unit is comprised of one common share of the Company (a
"Common Share") and one half of one
common share purchase warrant of the Company (each full common
share purchase warrant, a "Warrant"). Each Warrant is exercisable
to acquire one common share of the Company (a "Warrant Share") for
a period of 40 months following the closing date of the Offering at
an exercise price of US$9.00 per
Warrant Share, subject to adjustment in certain events.
BMO Capital Markets and ATB Capital Markets acted as the
bookrunners for the Offering.
The Company plans to use the net proceeds of the Offering to
fund growth opportunities, working capital, and other general
corporate purposes.
In connection with the Offering, the Company filed a prospectus
supplement (the "Prospectus Supplement") to the Company's short
form base shelf prospectus dated October 28,
2020 (the "Base Shelf Prospectus") with the securities
commissions or similar securities regulatory authorities in each of
the provinces of Canada, except
Quebec, and with the U.S.
Securities and Exchange Commission (the "SEC") as part of the
Company's registration statement on Form F-10 (the "Registration
Statement") under the U.S./Canada Multijurisdictional Disclosure
System. The Prospectus Supplement, the Base Shelf Prospectus and
the Registration Statement contain important detailed information
about the Company and the Offering.
Copies of the Prospectus Supplement and the Base Shelf
Prospectus are available on SEDAR at www.sedar.com and copies of
the Prospectus Supplement and the Registration Statement are
available on EDGAR at www.sec.gov. Copies of the Prospectus
Supplement, the Base Shelf Prospectus and the Registration
Statement may also be obtained from BMO Capital Markets by
contacting BMO Capital Markets, Brampton Distribution Centre C/O
The Data Group of Companies, 9195 Torbram Road, Brampton, Ontario, L6S 6H2 or by telephone at
(905) 791-3151 Ext 431 or by email at torbramwarehouse@datagroup.ca
or from BMO Capital Markets Corp., Attn: Equity Syndicate
Department, 3 Times Square, 25th Floor, New York, NY 10036 (Attn: Equity Syndicate),
or by telephone at (800) 414-3627 or by email at
bmoprospectus@bmo.com. Copies of such documents may also be
obtained from ATB Capital Markets Inc., Attn: Gail O'Connor, 410-585 8th Ave SW, Calgary, Alberta, T2P 1G1, (403) 539-8629 or
by email from atbcm_dealflow@atb.com.
No securities regulatory authority has either approved or
disapproved of the contents of this press release. This press
release is for information purposes only and shall not constitute
an offer to sell or the solicitation of an offer to buy, nor shall
there be any sale of these securities in any state or jurisdiction
in which such offer, solicitation or sale would be unlawful prior
to registration or qualification under the securities laws of any
such state or jurisdiction.
About Aurora
Aurora is a global leader in the cannabis industry serving both
the medical and consumer markets. Headquartered in Edmonton, Alberta, Aurora is a pioneer in
global cannabis dedicated to helping people improve their lives.
The Company's brand portfolio includes Aurora, Aurora Drift, San
Rafael '71, Daily Special, AltaVie, MedReleaf, CanniMed, Whistler,
and Reliva CBD. Providing customers with innovative, high-quality
cannabis products, Aurora's brands continue to break through as
industry leaders in the medical, performance, wellness and
recreational markets wherever they are launched. For more
information, please visit our website at www.auroramj.com.
Aurora's common shares trade on the TSX and NYSE under the
symbol "ACB", and is a constituent of the S&P/TSX Composite
Index.
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. Forward-looking
statements made in this news release include statements regarding
the expected use of proceeds of the Offering. These forward-looking
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, estimates and
assumptions of management in light of management's experience and
perception of historical trends, current conditions and expected
developments at the date the statements are made, such as current
and future market conditions, the ability to maintain SG&A
costs in line with current expectations, the ability to achieve
high margin revenues in the Canadian consumer market, the current
and future regulatory environment and future approvals and permits.
Forward-looking statements are subject to a variety of risks,
uncertainties and other factors that management believes to be
relevant and reasonable in the circumstances could cause actual
events, results, level of activity, performance, prospects,
opportunities or achievements to differ materially from those
projected in the forward-looking statements, including the risks
associated with: entering the U.S. market, the ability to realize
the anticipated benefits associated with the acquisition of Reliva,
achievement of Aurora's business transformation plan, general
business and economic conditions, changes in laws and regulations,
product demand, changes in prices of required commodities,
competition, the effects of and responses to the COVID-19 pandemic
and other risks, uncertainties and factors set out under the
heading "Risk Factors" in the Company's annual information form
dated September 24, 2020 (the
"AIF") and filed with Canadian securities regulators
available on the Company's issuer profile on SEDAR at www.sedar.com
and filed with and available on the SEC's website at www.edgar.gov,
any of which could cause the Company to change its use of proceeds
from the Offering. The Company cautions that the list of risks,
uncertainties and other factors described in the AIF is not
exhaustive and other factors could also adversely affect its
results. Readers are urged to consider the risks, uncertainties and
assumptions carefully in evaluating the forward-looking statements
and are cautioned not to place undue reliance on such information.
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 securities
law.
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SOURCE Aurora Cannabis Inc.