Aurora Cannabis Inc. announces $ 125 million purchase financing

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NYSE | TSX: ACB

EDMONTON, AB, January 21, 2021 / PRNewswire / – Aurora Cannabis Inc. (“Aurora” or the “Company”) (NYSE: ACB) (TSX: ACB), the Canadian company that defines the future of cannabinoids worldwide, announced today that it has an agreement has entered into with a consortium of subscribers led by BMO Capital Markets and ATB Capital Markets, where the subscribers have agreed to purchase 12,000,000 shares of the Company (the “Shares”) on a purchase basis at a price of US $ 10.45 per unit for gross revenues of approx. $ 125 million (the Offering “). Each Unit consists of one common share of the Company (a” Common Share “) and half of a warrant to purchase one common share of the Company (each complete warrant to purchase one common share, a” Warrant “). Each warrant is exercisable to purchase one common share of the Company (a “Warrant Share”) for a period of 36 months from the closing date of the Offering at an exercise price of $ 12.60 per warrant share, subject to adjustment in certain cases.

The Company has granted the subscribers an option, which can be exercised 30 days after the closing of the offer at the offer price, in order to acquire up to 10% of the offer to cover any over-allotments. This option may be exercised by subscribers for additional shares, common shares, warrants, or a combination of these securities.

The net proceeds of the offering will be used for general corporate purposes, including opportunistic deleveraging. The company believes the offering fits in with its broader strategy of having a strong balance sheet while maintaining maximum flexibility in investing and building a leadership position in global cannabinoids.

The offer is expected to close on or around the day January 26, 2021 and subject to customary conditions, including the approval of the Toronto Stock Exchange and the New York Stock Exchange.

A prospectus addendum (the “Prospectus Addendum”) to the Company’s short-form base shelf prospectus dated October 28, 2020 (the “Base Shelf Prospectus”) is filed with the securities commissions or regulatory agencies in each of the provinces of Canada, except Quebecand with the US Securities and Exchange Commission (“SEC”) as part of the company’s registration statement on Form F-10 (“Registration Statement”) under the US / Canada Multijurisdictional Disclosure System. The Supplement to the Prospectus, the Base Shelf Prospectus and the Registration Statement contain important detailed information about the Company and the proposed offer. Potential investors should read the Supplementary Prospectus, the Base Prospectus and the Registration Statement and other documents filed by the Company for more complete information about the Company and this Offering before making any investment decision.

Copies of the supplement to the prospectus after its filing and the base shelf prospectus are available on SEDAR at www.sedar.com. Copies of the Supplement and Registration Statement are available on EDGAR at www.sec.gov. Copies of the Supplement, upon filing, the Base Prospectus and the Registration Statement are also available from BMO Capital Markets by contacting BMO Capital Markets, Brampton C / O Distribution Center, The Data Group of Companies, 9195 Torbram Road. Brampton, Ontario, L6S 6H2 or by phone at (905) 791-3151 ext. 431 or by email at [email protected] or from BMO Capital Markets Corp., Attn: Equity Syndicate Department, 3 Times Square, 25th floor, New York, NY 10036 (Attn: Equity Syndicate) or by phone at (800) 414-3627 or by email at [email protected]. Copies of such documents are also available from ATB Capital Markets Inc., Attn: Gail O’Connor410-585 8th Ave SW, Calgary, Alberta, T2P 1G1, (403) 539-8629 or by email from [email protected].

No securities regulatory authority has approved or disapproved the contents of this press release. This press release is for informational purposes only and does not constitute an offer, solicitation or solicitation of an offer to buy, nor will any sale of these securities be made 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 such state or jurisdiction.

About Aurora

Aurora is a global leader in the cannabis industry, serving both the medical and consumer markets. Headquarters in Edmonton, AlbertaAurora is a pioneer in the global cannabis space helping people improve their lives. The company’s portfolio of brands includes Aurora, Aurora Drift, San Rafael ’71, Daily Special, AltaVie, MedReleaf, CanniMed, Whistler and Reliva CBD. Aurora’s brands deliver innovative, high quality cannabis products to their customers and continue to be industry leaders in medical, performance, wellness and leisure wherever they are introduced. For more information, please visit our website at www.auroramj.com.

Aurora common stock trades on the TSX and NYSE under the symbol “ACB” and is part of the S & P / TSX Composite Index.

Forward-Looking Statements

This press release contains statements that contain certain “forward-looking information” within the meaning of applicable securities law (“forward-looking statements”). Forward-looking statements are often identified by words such as “plan”, “continue”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “may”, “will”, “potential” “,” suggested “and other similar words or statements that certain events or conditions” occur “or” will “. The forward-looking statements made in this press release include statements about: the timing and completion of the offering and the expected use of the proceeds from the offering. These forward-looking statements are only predictions. Various assumptions have been made in order to reach conclusions or to make the forward-looking statements contained in the forward-looking statements in this press release. Forward-looking statements are based on the opinions, estimates and assumptions of the management in the light of the experience of the management and the perception of historical trends, current conditions and expected developments at the time the statements are made, such as current and future market conditions, the ability to maintain them The VVG- Cost is in line with current expectations, the ability to generate high margin income in the Canadian consumer market, current and future regulatory environments, and future permits and permits. Forward-looking statements are subject to a number of risks, uncertainties and other factors that management believes are relevant and appropriate in the given circumstances and that could cause actual events, results, levels of activity, performance, prospects, opportunities or successes to differ materially 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 Reliva acquisition, the achievement of Aurora’s business transformation plan, general business and economic conditions, Legislative changes and regulations, product demand, changes in the price of goods required, competition, effects and responses to the COVID-19 pandemic and other risks, uncertainties and factors dated under the heading “Risk Factors” on the company’s annual information form September 24, 2020 (the “AIF”) and filed with the Canadian Securities and Exchange Commission, which are available on the Company’s Issuer Profile on SEDAR at www.sedar.com and are filed and available on the SEC’s website at www.edgar.gov. The company cautions that the list of risks, uncertainties and other factors described in the AIF is not exhaustive and that other factors could also affect results. Readers are cautioned to carefully consider the risks, uncertainties and assumptions in evaluating any 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 as a result of new information, future events or for any other reason, unless this is expressly required by applicable securities law.

SOURCE Aurora Cannabis Inc.

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