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EDMONTON, Alberta, November 10, 2020 (GLOBE NEWSWIRE) – Aurora Cannabis Inc. (the “Company” or “Aurora”) (NYSE | TSX: ACB), the Canadian company that defines the future of cannabinoids around the world, has announced today which will submit a preliminary prospectus supplement (the “Preliminary Supplement”) to the abbreviated shelf base prospectus dated October 28, 2020 (the “Base Shelf Prospectus”) relating to a public offering traded overnight (the ” Offering “) of units of the Company (the” Units “) at a price of $ 7.50 per Unit for total gross income to the Company of approximately $ 125 million.
Each Unit will consist of one ordinary share of the Company (one “Ordinary Share”) and one half of a mandate to purchase common shares of the Company (each complete mandate to purchase ordinary shares, a “Warrant”). Each Warrant may be exercised to acquire an ordinary share of the Company (a “Warrant Share”) for a period of 40 months from the closing date of the Offer at an exercise price of US $ 9.00 per Warrant Share, subject to adjustments in certain events.
The final terms of the Offer must be determined at the time of the price. There is no guarantee as to whether or when the Offer may be completed, nor as to the actual size or terms of the Offer. Closing of the Offer will be subject to market conditions and other customary conditions, including approvals by the Toronto Stock Exchange and the New York Stock Exchange.
In addition, the Company intends to grant subscribers a 30 day option to purchase up to an additional 15% of the Units offered in the Offer proposed under the same terms and conditions. This option may be exercised by subscribers for additional units, common shares, warrants or any combination of such securities.
The Company expects to use the net proceeds of the offering, as appropriate, to fund growth opportunities, working capital and other general business purposes.
BMO Capital Markets and ATB Capital Markets act as the bookrunner of the Offering.
The Preliminary Supplement will be filed with the securities commissions or similar securities regulators in each of the provinces of Canada, except Quebec, and with the US Securities and Exchange Commission (the “SEC”) as part of the registration statement. Company on Form F -10 (the “Registration Statement”) under the US / Canada Multi-Jurisdiction Disclosure System. The Preliminary Supplement, the Base Shelf Prospectus and the Registration Declaration contain important detailed information on the Company and the Proposed Offer. Potential investors should read the Preliminary Supplement, Base Shelf Prospectus and Registration Statement and other documents the Company has submitted for more complete information about the Company and this Offer before making an investment decision.
Copies of the Preliminary Supplement, after its filing, and of the Base Shelf Prospectus will be available on SEDAR at www.sedar.com and copies of the Preliminary Supplement and Registration Declaration will be available on EDGAR at www. sec.gov. Copies of the Preliminary Supplement, after its submission, the Base Shelf Prospectus and the Registration Declaration can also be obtained from BMO Capital Markets by contacting BMO Capital Markets, Brampton Distribution Center C / O 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 these documents can 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 regulator has approved or disapproved the content of this press release. This press release is for informational purposes only and does not constitute an offer to sell or the solicitation of an offer to buy, nor will there be any sale of these securities in any state or jurisdiction where such an offer, solicitation or sale would be illegal before registration or qualification under the securities laws of such states or jurisdictions.
About Aurora
Aurora is a global leader in the cannabis industry serving both the medical and consumer markets. Based 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. By providing customers with innovative, high-quality cannabis products, Aurora’s brands continue to emerge as industry leaders in the medical, performance, wellness and recreational markets wherever they are launched. For more information, visit our website at www.auroramj.com.
Aurora’s common stock is traded on the TSX and NYSE under the symbol “ACB” and is a constituent element of the S & P / TSX Composite Index.
Further information
| For the media: | For Investors: | |
| Michelle Lefler | ICR, Inc. | |
| VP, communications and PR | Investor Relations | |
| [email protected] | [email protected] |
Forward-Looking Statements
This press release includes statements containing certain “forward-looking information” within the meaning of applicable securities law (“forward-looking statements“). Forward-looking statements are often characterized by words such as” plan “,” continue “,” expect “,” plan “,” intend “,” believe “,” anticipate “,” estimate “,” may “,” will be “,” potential “,” proposed “and other similar words or statements that certain events or conditions” could “or” will occur. “The forward-looking statements contained in this press release include statements regarding: timing, pricing, and completion of the Offer and the intended use of the proceeds of the Offer. These forward-looking statements are only forward-looking statements. Various assumptions have been used to draw the conclusions or formulate projections contained in the forward-looking statements in this press release. The statements are based on opinion, management’s estimates and assumptions in light of management’s experience and perception of historical trends, current conditions and expected developments on the date on which they are declared are rendered, such as current and future market conditions, the ability the ability to keep 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 number of risks, uncertainties and other factors that management deems relevant and reasonable in the circumstances that could cause actual events, results, level of business, performance, prospects, opportunities or results to differ materially from those anticipated in the forward-looking statements, including risks associated with: entry into the US market, ability to realize the anticipated benefits associated with the acquisition of Reliva, achievement of Aurora’s business transformation plan, general economic and business conditions, changes in laws and regulations, demand for products, changes in commodity prices required, competition, effects and responses to the COVID-19 pandemic and other risks, uncertainties and factors set out under “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 Web site at www.edgar.gov. The Company warns that the list of risks, uncertainties and other factors described in the AIF is not exhaustive and that other factors may also adversely affect its results. Readers are advised to carefully consider the risks, uncertainties and assumptions in the AIF. assessment of forward-looking statements and are cautioned not to place undue reliance on such information. The Company has 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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