Vancouver (pcJ News Briefs) – Aurora Cannabis Inc. (TSX-V: ACB; OTCQB: ACBFF; FSE: 21P; WKN: A1C4WM) has entered into an agreement with Canaccord Genuity Corp., on behalf of a syndicate of underwriters, for a bought deal private placement of convertible debentures of $75 million aggregate principal amount of convertible debentures at a price of $1,000 per convertible debenture.
The offering was revised upward from $40 million as initially announced.
Net proceeds will be used primarily towards international expansion and growth opportunities.
Aurora’s wholly-owned subsidiary, Aurora Cannabis Enterprises Inc., is a licensed producer of medical cannabis pursuant to Health Canada’s Access to Cannabis for Medical Purposes Regulations (ACMPR). The company operates a 55,200 square foot, state-of-the-art production facility in Mountain View County, Alberta, is currently constructing a second 800,000 square foot production facility, known as “Aurora Sky”, at the Edmonton International Airport, and has acquired and is undertaking completion of a third 40,000 square foot production facility in Pointe Claire, Quebec, near Montreal.
Aurora Cannabis is also the cornerstone investor with a 19.9% stake in Cann Group Limited, the first Australian company licensed to conduct research on and cultivate medical cannabis.
photo credit: Aurora Cannabis