Aurora Cannabis has filed a preliminary short-form base shelf prospectus to raise up to $1 billion by issuing securities over the next 25-months.
We learn from a news release issued Wednesday.
The cash raise will give Aurora “maximum flexibility to pursue strategic initiatives, which may include acquisitions or partnerships pursuant to the company’s previously stated global growth strategy,”
Here’s the release in full
NYSE | TSX: ACB
EDMONTON, AB, March 10, 2021 /PRNewswire/ – Aurora Cannabis Inc. (the “Company” or “Aurora“) (NYSE: ACB) (TSX: ACB), the Canadian company defining the future of cannabinoids worldwide, today announced it has filed a new preliminary short form base shelf prospectus (the “Base Shelf Prospectus”) with securities regulators in each of the provinces of Canada, except Quebec, and a corresponding shelf registration statement on Form F–10 (the “Registration Statement”) with the United States Securities and Exchange Commission (the “SEC”).
The base shelf prospectus when made final, will qualify common shares, preferred shares, warrants, subscription receipts and debt securities up to U.S.$1 billion during the 25-month period that the base shelf prospectus remains effective. Management believes the filing of this new Base Shelf Prospectus is in the best interest of shareholders and provides maximum flexibility to pursue strategic initiatives, which may include acquisitions or partnerships pursuant to the Company’s previously stated global growth strategy.
Aurora is a global leader in the cannabis industry serving both the medical and consumer markets. Headquartered in Edmonton, Alberta, Aurora is a pioneer in global cannabis dedicated to helping people improve their lives. The Company’s brand portfolio includes Aurora, Aurora Drift, San Rafael ’71, Daily Special, AltaVie, MedReleaf, CanniMed, Whistler, and Reliva CBD. Providing customers with innovative, high-quality cannabis products, Aurora’s brands continue to break through as industry leaders in the medical, performance, wellness and recreational markets wherever they are launched. For more information, please visit our website at www.auroramj.com.
Aurora’s Common Shares trade on the TSX and NYSE under the symbol “ACB”, and is a constituent of the S&P/TSX Composite Index.
Forward Looking Statements
This news release includes statements containing certain “forward-looking information” within the meaning of applicable securities law (“forward-looking statements“). Forward-looking statements are frequently characterized by words such as “plan”, “continue”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “may”, “will”, “potential”, “proposed” and other similar words, or statements that certain events or conditions “may” or “will” occur. Forward-looking statements made in this news release include statements regarding the filing of a subsequent prospectus supplement and the pursuit of strategic initiatives. These forward-looking statements are only predictions. Various assumptions were used in drawing the conclusions or making the projections contained in the forward-looking statements throughout this news release. Forward-looking statements are based on the opinions, estimates and assumptions of management in light of management’s experience and perception of historical trends, current conditions and expected developments at the date the statements are made, such as current and future market conditions, the ability to maintain SG&A costs in line with current expectations, the ability to achieve high margin revenues in the Canadian consumer market, the current and future regulatory environment and future approvals and permits. Forward-looking statements are subject to a variety of risks, uncertainties and other factors that management believes to be relevant and reasonable in the circumstances could cause actual events, results, level of activity, performance, prospects, opportunities or achievements to differ materially from those projected in the forward-looking statements, including the risks associated with: entering the U.S. market, the ability to realize the anticipated benefits associated with the acquisition of Reliva, achievement of Aurora’s business transformation plan, general business and economic conditions, changes in laws and regulations, product demand, changes in prices of required commodities, competition, the effects of and responses to the COVID-19 pandemic and other risks, uncertainties and factors set out under the heading “Risk Factors” in the Company’s annual information form dated September 24, 2020 (the “AIF“) and filed with Canadian securities regulators available on the Company’s issuer profile on SEDAR at www.sedar.com and filed with and available on the SEC’s website at www.edgar.gov. The Company cautions that the list of risks, uncertainties and other factors described in the AIF is not exhaustive and other factors could also adversely affect its results. Readers are urged to consider the risks, uncertainties and assumptions carefully in evaluating the forward-looking statements and are cautioned not to place undue reliance on such information. The Company is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities law.
SOURCE Aurora Cannabis Inc.
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