Aurora Cannabis (ACB:CSE) Increases Financing to $4.5-million
Due to strong response from investors, Aurora Cannabis Inc.’s non-brokered private placement of units 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 53 cents per unit for gross proceeds of $1,722,900.
All other terms of the private placement remain the same as set forth in the company’s news release dated Dec. 30, 2015. Each unit consists of one common share and one transferable common share purchase warrant. Each warrant will entitle the holder to purchase an additional common share of the company at a price of 66 cents 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.
We seek Safe Harbor.