Aurora $ACB Announces $50mm Bought Deal Financing

Aurora Cannabis(TSX: ACB) (OTCQX: ACBFF) (Frankfurt:  21P; WKN: A1C4WM)

Aurora Cannabis Inc. announced  that it has entered into an agreement with a syndicate of underwriters led by Canaccord Genuity Corp., pursuant to which the Underwriters have agreed to purchase, on a bought deal basis, 16,700,000 units of the Company, at a price of $3.00 per Unit, for aggregate gross proceeds to Aurora of $50,100,000.

Each Unit will be comprised of one common share of the Company and one common share purchase warrant. Each Warrant will be exercisable to acquire one common share  for a period of 3 years following the closing date of the Offering at an exercise price of $4.00 per Warrant Share, subject to adjustment in certain events.

Aurora has also granted the Underwriters an option to purchase up to 2,505,000 additional Units of the Company on the same terms as the Offering. If the Over-Allotment Option is exercised in full, the aggregate gross proceeds of the Offering will be $57,615,000.

Net proceeds from the Offering will be used primarily towards the Company’s strategic growth initiatives including continued domestic and international expansion, and for general working capital purposes.

“This financing ensures that we have the financial horsepower we need to keep going at full throttle, and continue seizing and capitalizing on attractive growth opportunities in Canada and around the world. With Aurora’s excellent balance sheet and what we believe is the strongest cash position in the industry, we are ideally positioned to further accelerate our aggressive growth strategy, further expand production capacity, and enter multiple new international markets. Aurora will continue to push the pace, with agility, innovation and disciplined execution, and set the benchmark as a globally dominant cannabis company.”

Terry Booth, CEO of Aurora