Aurora Cannabis Announces Proposed Public Offering
EDMONTON, Alberta, Nov. 10, 2020 (GLOBE NEWSWIRE) — Aurora Cannabis Inc. (the “Company” or “Aurora”) (NYSE | TSX: ACB), the Canadian company defining the future of cannabinoids worldwide, announced today that it will be filing a preliminary prospectus supplement (the “Preliminary Supplement”) to its short form base shelf prospectus dated October 28, 2020 (the “Base Shelf Prospectus”) relating to a proposed overnight marketed public offering (the “Offering”) of units of the Company (the “Units”) at a price of US$7.50 per Unit for total gross proceeds to the Company of approximately US$125 million.
Each Unit will be 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 will be 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.
The final terms of the Offering are to be determined at the time of pricing. There can be no assurance as to whether or when the Offering may be completed, or as to the actual size or terms of the Offering. The closing of the Offering will be subject to market and other customary conditions, including approvals of the Toronto Stock Exchange and the New York Stock Exchange.
In addition, the Company intends to grant the underwriters a 30-day option to purchase up to an additional 15% of the Units offered in the proposed Offering on the same terms and conditions. This option may be exercised by the underwriters for additional Units, Common Shares, Warrants or any combination of such securities.
The Company expects to use the net proceeds from the Offering, if any, to fund growth opportunities, working capital and other general corporate purposes.
BMO Capital Markets and ATB Capital Markets are acting as the bookrunners for the Offering.
The Preliminary Supplement will be filed 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 Preliminary Supplement, the Base Shelf Prospectus and the Registration Statement contain important detailed information about the Company and the proposed Offering. Prospective investors should read the Preliminary Supplement, the Base Shelf Prospectus and the Registration Statement and the other documents the Company has filed for more complete information about the Company and this Offering before making an investment decision.
Copies of the Preliminary Supplement, following filing thereof, and the Base Shelf Prospectus will be available on SEDAR at www.sedar.com and copies of the Preliminary Supplement and the Registration Statement will be available on EDGAR at www.sec.gov. Copies of the Preliminary Supplement, following filing thereof, 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 email@example.com 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 firstname.lastname@example.org. 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 email@example.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.
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.