Aurora Cannabis Inc. (CVE:ACB) recently announced a $75 million financing, the proceeds of which will be used primarily towards international expansion and growth opportunities
Street Register | April 12, 2017: Aurora Cannabis Inc. (TSXV: ACB) (OTCQB: ACBFF) , a licensed Canadian medical marijuana producer under Health Canada’s Access to Cannabis for Medical Purposes Regulations (ACMPR), has been a boon for American investors who are looking for haven from a perceived domestic fight on marijuana that could be a long, dragged-out process.
Meanwhile, new horizons are about to open up North of the border- at any moment this week, the Canadian government is expected to announce legislation that will legalize marijuana in Canada by July of next year. Each province will have the right to develop its own methods of structuring how marijuana is sold and distributed in that region.
Related: Find The Best Canadian Marijuana Stocks or Pot Stock to Invest In
The possibilities in all of this for Aurora Cannabis Inc. (TSXV: ACB) (OTCQB: ACBFF) are numerous, with the company already showing a full-court press on increasing its yield potential through new grow spaces both planned and acquired. We’ve been talking about ACBFF here on Street Register for quite a time, and we’ve seen several really nice moves from the stock. We expect the company’s good fortune to continue if it keeps progressing as fast as we’ve observed so far.
[Editor’s Note: Aurora Cannabis announced recently that it will increase the size of its previously announced bought deal private placement of convertible debentures to C$75 million. Aurora Cannabis added that net proceeds from the Offering will be used primarily towards international expansion and growth opportunities. “This lower cost financing places Aurora in an extremely powerful position to aggressively pursue international expansion opportunities, with what we believe will be the strongest cash balance, at more than $150 million, in the global cannabis sector,” said Terry Booth, CEO of Aurora Cannabis. “With our existing facility in Mountain View County, Alberta, construction proceeding rapidly on Aurora Sky at the Edmonton International Airport, and the recent acquisition of Peloton Pharmaceuticals in Quebec, we are also developing what we expect will be the largest cannabis production capacity in the world, grown to the Aurora Standard. Combined with our technological innovation, one-of-a-kind mobile application and e-commerce strategy, Aurora is ideally placed to play a leading role not only in the Canadian medical and consumer cannabis markets, but also in multiple emerging global cannabis markets.”]
Last week, after only having revealed its plans to do so at the beginning of March, Aurora Cannabis announced it had completed the acquisition of Peloton Pharmaceuticals Inc, a Montreal-area late-stage ACMPR-applicant.
Peloton is completing construction of a state-of-the-art 40,000 square foot cannabis production facility in the City of Pointe-Claire, Québec, which received a “ready to build” letter from Health Canada in 2014. At full capacity, the facility is expected to be capable of producing up to 3,900 kg of high quality cannabis per year. Aurora management believes the Peloton facility is approximately 80% complete, and can be ready for Health Canada’s pre-licensing inspection by the second half of 2017.
Pursuant to the terms of the Proposal, which was accepted by the requisite majorities of creditors, approved by the Quebec Superior Court of Justice, and supported by management of Peloton, Aurora has funded a total investment pool of up to an aggregate of $7,000,000, subject to post-closing adjustments, comprised of cash and common shares of Aurora for distribution to creditors.
Read more at streetregister.com
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