Aurora Increases Private Placement to $4.5 Million
January 13, 2016 (Source) — Aurora Cannabis Inc. (CSE: ACB) (Frankfurt: 21P; WKN: A1C4WM) (OTC: ACBFF) (“Aurora” or the “Company”) is pleased to announce that due to strong response from investors, the Company’s non-brokered private placement of units (the “Private Placement”) has been oversubscribed, and as a result, the Private Placement has been increased from $3.5 million to a maximum of $4.5 million.
As previously announced, the Company closed the first tranche of the Private Placement consisting of 3,250,755 units of the Company at a price of $0.53 per unit for gross proceeds of $1,722,900.
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All other terms of the Private Placement remain the same as set forth in the Company’s news release dated December 30, 2015. Each unit consists of one common share and one transferable common share purchase warrant (“Warrant”). Each Warrant will entitle the holder to purchase an additional common share of the Company at a price of $0.66 per common share for a period of two years. The expiry date of the warrants may be accelerated by the Company if its shares trade above $1.25 for 10 consecutive trading days.
About Aurora Cannabis Inc.*-
Marihuana for Medical Purposes Regulations and operates a 55,200 square foot expandable state-of-the-art production facility in Alberta, Canada. Aurora’s wholly-owned subsidiary, Australis Capital Inc., seeks to be an active participant in the U.S. Cannabis market. Aurora is trading on the Canadian Securities Exchange under the trading symbol “ACB”.
On behalf of the Board of Directors,
AURORA CANNABIS INC.
The CSE, securities commission or other regulatory authority has not reviewed, approved or disapproved the contents of this press release. We seek Safe Harbour.
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