Aurora Cannabis closes $75M debenture bought deal

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By CPE News

Vancouver (pcJ News Briefs) – Aurora Cannabis Inc. (TSX-V: ACB; OTCQB: ACBFF; FSE: 21P; WKN: A1C4WM) has completed bought deal private placement of 7.0% unsecured convertible debentures with a syndicate of investment dealers, led by Canaccord Genuity Corp., including GMP Securities L.P, Eight Capital, PI Financial Corporation, Industrial Alliance Securities Inc., and Mackie Research Capital Corporation, for gross proceeds of $75 million.

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