VANCOUVER, Oct. 4, 2016 /CNW/ - Aurora Cannabis Inc. – ("Aurora" or the "Company") (CSE: "ACB") (OTCQB: "ACBFF") (Frankfurt: 21P; WKN: A1C4WM) announced today that the Company is accelerating the expiry of 5,658,479 private placement common share purchase warrants and 112,300 finder warrants (the "Warrants") which were issued in connection with a private placement which closed on December 31, 2015 and January 19, 2016. Each private placement warrant is exercisable at a price of $0.66 per common share and each finder warrant is exercisable at $0.53 per share until 2018.
Pursuant to the terms of the Warrants, the expiry date of the Warrants may be accelerated should the closing price at which the common shares trade exceeds $1.25 for ten consecutive trading days. The expiry date is accelerated to Friday, November 11, 2016 (the "Accelerated Expiry Date"). Any Warrants which remain unexercised after the Accelerated Expiry Date will be cancelled. Assuming that all the Warrants will be exercised, the Company will receive proceeds of approximately $3,794,115.
"This warrant conversion and significant cash injection further strengthens Aurora's balance sheet and increases our working capital position," said Terry Booth, CEO. "The Company has ample capital to continue executing on our business strategies without the need to raise additional funds for operating activities."
Aurora's wholly-owned subsidiary, Aurora Cannabis Enterprises Inc., is a licensed producer of medical marijuana pursuant to Health Canada's Access to Cannabis for Medical Purposes Regulations (ACMPR) and operates a 55,200 square foot, expandable, state-of-the-art production facility in Mountain View County, Alberta, Canada. Aurora trades on the Canadian Securities Exchange under the symbol "ACB".
On behalf of the Board of Directors, AURORA CANNABIS INC.
Terry Booth, CEO
This news release contains statements about the Company's expectations regarding production capacity, production yields and other aspects of its anticipated future operations that are forward-looking in nature and, as a result, are subject to certain risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, undue reliance should not be placed on them as actual results may differ materially from the forward-looking statements. Such forward-looking statements are estimates reflecting the Company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such forward-looking statements. Such factors include but are not limited to the Company's ability to obtain the necessary financing and the general impact of financial market conditions, the yield from marijuana growing operations, product demand, changes in prices of required commodities, competition, government regulations and other risks set out in the Company's management's discussion and analysis filed on SEDAR. The forward-looking statements contained in this news release are made as of the date hereof, and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, except as required by law.
The CSE or other regulatory authority has not reviewed, approved or disapproved the contents of this press release. We seek Safe Harbour.
SOURCE Aurora Cannabis Inc.
For further information: Cam Battley, Senior VP Communications and Medical Affairs, +1.905.864.5525, [email protected], www.auroramj.com; Marc Lakmaaker, NATIONAL Equicom, +1.416.848.1397, [email protected]