Aurora Cannabis Announces $50,625,000 Bought Deal Private Placement of Units

Aurora Cannabis (TSXV: ACB) (OTCQB: ACBFF) (Frankfurt: 21P; WKN: A1C4WM) announced an agreement with a syndicate of underwriters led by Canaccord Genuity Corp. to purchase, on a bought deal private placement basis 22,500,000 units of the Company at a price of $2.25 per Unit. Closing of the Offering is expected to occur on or about February 23, 2017.
As quoted in the press release:

Each Unit will be comprised of one common share of the Company (a “Common Share”) and half of one Common Share purchase warrant (each whole Common Share purchase warrant, a “Warrant”). Each Warrant will be exercisable to acquire one Common Share (a “Warrant Share”) for a period of two years following the closing date of the Offering at an exercise price of $3.00 per Warrant Share, subject to adjustment in certain events. The Warrants will be subject to a forced exercise provision if the Company’s daily volume weighted average share price on the TSX Venture Exchange (or such other stock exchange the Company may be trading on) is greater than $4.50 for 10 consecutive trading days. Net proceeds from the Offering will be used primarily towards the Company’s strategic growth initiatives including its planned facility expansion, and for general working capital purposes.

Click here for the full press release.