2015-03-25 – News Release – Aurora Cannabis Inc. (ACB:CSE) has established its new subsidiary, Australis Capital Inc., a company focused on opportunities in the United States with respect to production, processing, extracting of derivatives, and sale of both medicinal and recreational cannabis.
Further to the Company’s news release dated March 18, 2015, it has retained the services of Electrum Partners, LLC, from Las Vegas, Nevada to assist in this process. In synergy with Aurora’s market strategy, Electrum Partners, LLC specializes in providing consulting, development, and management services in emergent State-legal opportunities.
With the U.S. market still in its nascent phase, the Company believes its experience in the Canadian regulatory environment (implemented as the “Aurora Standard”) has the potential for broad market defining impact.
Subject to regulatory and shareholder approvals, the Company intends to spin out Australis under a Plan of Arrangement under the Business Corporations Act (British Columbia) (the “Arrangement”), pursuant to which 100{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} of the outstanding common shares of Australis will be distributed to the holders of common shares of Aurora on a pro-rata basis. The directors of the Company believe that the creation of two separate public companies, one focused in Canada and one focused in the U.S., will enhance their respective business operations and provide holders of Aurora securities with diversified investment choices. The Company will announce the details of the Arrangement in due course. There can be no assurances or guarantees that the Arrangement will be completed.
We seek Safe Harbor.