Aurora Cannabis Files To Raise $750 Million

Aurora Cannabis Inc.  (TSX: ACB) (NYSE: ACB)  filed a preliminary short form base shelf prospectus $750 million during the 25 month period that the shelf prospectus is effective.

“Although we have no immediate intention of drawing capital against this Shelf Prospectus, we have introduced this option as a prudent and long-term strategic measure to provide us with flexibility in access to growth capital, if or when required, to continue executing on our global expansion and partnering strategy,” said Michael Singer, Executive Chairman. “With our recent listing on the NYSE, our successful financing in January 2019 led by U.S. institutional investors, and as we work with Nelson Peltz to explore potential partnership opportunities, this filing is a natural evolution for our company as we rapidly mature into a global and profitable organization.”

The filing, when made final or effective, will allow Aurora to make offerings of common shares, debt securities, subscription receipts, units, warrants or any combination thereof of up to $750 million during the 25 month period that it is effective. Should the company decide to offer securities during this period,  the specific terms, including the use of proceeds from any offering, would be set forth in a related prospectus supplement.

Acquisition Binge

Aurora has been very active in acquiring companies which to date includes 16 wholly owned subsidiary companies – MedReleaf, CanvasRX, Peloton Pharmaceutical, Aurora Deutschland, H2 Biopharma, Urban Cultivator, BC Northern Lights, Larssen Greenhouses, CanniMed Therapeutics, Anandia Labs, HotHouse Consulting, MED Colombia, Agropro, Borela, ICC Labs and Whistler.

In addition to the acquisition, Aurora has established strategic partnerships with a range of companies, including: Radient Technologies Inc. (TSXV: RTI), Hempco Food and Fiber Inc. (TSXV: HEMP), Cann Group Ltd. (ASX: CAN), Micron Waste Technologies Inc. (CSE: MWM), Choom Holdings Inc. (CSE: CHOO), Capcium Inc. (private), Evio Beauty Group (private), Wagner Dimas (private), CTT Pharmaceuticals (OTC: CTTH), Alcanna Inc. (TSX: CLIQ) and High Tide Inc. (CSE:HITI).

Stock Performance

Aurora Cannabis stock was lately trading at $8.96. Its year low was $4.05 and its 52-week high was $12.52. The stock was slipping by 1% in early trading.

Debra Borchardt

Debra Borchardt is the Co-Founder, and Executive Editor of GMR. She has covered the cannabis industry for several years at Forbes, Seeking Alpha and TheStreet. Prior to becoming a financial journalist, Debra was a Vice President at Bear Stearns where she held a Series 7 and Registered Investment Advisor license. Debra has a Master's degree in Business Journalism from New York University.


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