TSX: ACB | NYSE: ACB
EDMONTON, Jan. 16, 2019
/CNW/ - Aurora Cannabis Inc. (the "Company" or "Aurora") (NYSE:
ACB) (TSX: ACB) (Frankfurt: 21P;
WKN: A1C4WM) today announced that it proposes to offer pursuant to
a private placement US$250.0 million
aggregate principal amount of convertible senior notes due 2024
(the "notes"). Aurora also intends to grant to the initial
purchasers of the notes an option to purchase up to an additional
US$37.5 million aggregate principal
amount of notes.
Aurora expects to use the net proceeds from the offering of the
notes to support its Canadian and international expansion
initiatives, for future acquisitions and for general corporate
purposes, including working capital requirements to continue the
Company's accelerated growth.
The final terms of the notes will be determined by Aurora and
the initial purchasers. The notes will bear cash interest
semi-annually at a fixed rate and be convertible by holders into
Aurora common shares at an initial conversion price higher than the
closing common share price on the day of the pricing of the notes.
Aurora currently expects that upon conversion the notes will be
settled in cash, shares of Aurora common shares or a combination of
cash and shares Aurora common shares, at Aurora's election. Aurora
will be required to offer to repurchase the notes upon the
occurrence of customary events.
This announcement is neither an offer to sell nor a solicitation
of an offer to buy the notes or the common shares of Aurora into
which the notes are convertible and shall not constitute an offer,
solicitation or sale in any jurisdiction in which such offer,
solicitation or sale is unlawful.
The notes and any common shares of Aurora issuable upon
conversion of the notes have not been and will not be registered
under the U.S. Securities Act of 1933, as amended, or any state
securities laws, or qualified for distribution by prospectus in
Canada, and may not be offered or
sold in the United States absent
registration or an applicable exemption from such registration
requirements, or sold in Canada
absent an exemption from the prospectus requirements of Canadian
securities laws.
About Aurora
Headquartered in Edmonton, Alberta,
Canada with funded capacity in excess of 500,000 kg per
annum and sales and operations in 22 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 low cost. Intended to be replicable and
scalable globally, our production facilities are designed to
produce cannabis of significant scale, with high quality,
industry-leading yields, and low per gram production costs. Each of
Aurora's facilities is built to meet EU GMP standards, and its
first production facility, the recently acquired MedReleaf Markham
facility, and its wholly owned European medical cannabis
distributor Aurora Deutschland, 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 wholly
owned subsidiary companies – MedReleaf, CanvasRX, Peloton
Pharmaceutical, Aurora Deutschland, H2 Biopharma, Urban Cultivator,
BC Northern Lights, Larssen Greenhouses, CanniMed Therapeutics,
Anandia Labs, HotHouse Consulting, MED Colombia, Agropro, Borela,
and ICC Labs – Aurora is distinguished by its reputation as a
partner and employer of choice in the global cannabis sector,
having invested in and established strategic partnerships with a
range of leading innovators, including: 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), Capcium Inc. (private), Evio Beauty
Group (private), Wagner Dimas (private), CTT Pharmaceuticals (OTCC:
CTTH), and Alcanna Inc. (TSX: CLIQ).
Aurora's Common Shares trade on the TSX and NYSE 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
Terry Booth, CEO
Aurora Cannabis Inc.
Forward looking statements
This news release includes statements containing certain
"forward-looking information" and "forward looking statements"
within the meaning of applicable securities laws ("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.
Examples of such statements include statements with respect to the
anticipated pricing and completion of the notes offering; the
planned use of proceeds from the notes offering; and the final
terms of the notes offering. The statements are based on the
opinion 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,
including whether or not the Company will offer the notes or
consummate the offering, the final terms of the offering,
prevailing market conditions, and the anticipated principal amount
of notes, which could differ based upon market conditions or for
other reasons. 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.