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AURORA CANNABIS IN (OTCMKTS:ACBFF) Reports Conversion of Due Balance Of $25 Million Debenture

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AURORA CANNABIS IN (OTCMKTS:ACBFF) reported that the firm has chosen to exercise its right under the indenture governing the firm’s 8% unsecured convertible debentures to be retired on November 1, 2018 to convert all of the principal sum due remaining Debentures as well as due accrued interest into common shares of the firm thereon up to December 9, 2017.

The details

Following the Indenture terms, the firm may force the debentures conversion at the price of $2 per common Share at the time when the VWAP of the equity on the TSX Exchange for 10 successive trading days exceeds or equals $3. As of market close on November 3, 2017, the VWAP of the stock on the exchange for 10 successive trading days’ equals $3.02.

The debenture conversion is planned to be effective December 9, 2017. Hence, on December 11, 2017, the projected remaining total of due Debentures will be converted into around 2.060 million Common Shares, and the company will pay accrued interest.

Terry Booth, the CEO of Aurora, expressed that they are extremely delighted to convert these debentures, which offers them with increased interest savings, further supporting company’s excellent balance sheet, and is indicative of company’s remarkable operational progress and growth. The firm has offered the holders of the Debentures 30-days advance written notice of its plan to exercise the Conversion.

Effective immediately, Aurora has engaged Marc Lakmaaker as Director of Investor Relations and Corporate Development. He joins company from NATIONAL Equicom, which is largest integrated communications company of Canada.

Having been associated with Aurora Cannabis as an external consultant for the preceding 18 months, and active in the cannabis segment for three years, he has remarkable experience and sector knowledge. He also brings considerable global experience, having commenced his career in Europe working with international firms listed on numerous global exchanges, and will assist Aurora further build its international investor profile.

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