Aurora Cannabis to accelerate warrant expiry to Nov. 11
2016-10-04 14:49 ET - News Release
Mr. Terry Booth reports
AURORA ACCELERATES WARRANT CONVERSION FOR CASH PROCEEDS OF UP TO $3.8 MILLION
Aurora Cannabis Inc. is accelerating the expiry of 5,658,479 private placement common share purchase warrants and 112,300 finder warrants which were issued in connection with a private placement which closed on Dec. 31, 2015, and Jan. 19, 2016. Each private placement warrant is exercisable at a price of 66 cents per common share, and each finder warrant is exercisable at 53 cents per share until 2018.
Pursuant to the terms of the warrants, the expiry date of the warrants may be accelerated should the closing price at which the common shares trade exceeds $1.25 for 10 consecutive trading days. The expiry date is accelerated to Friday, Nov. 11, 2016. Any warrants which remain unexercised after the accelerated expiry date will be cancelled. Assuming that all the warrants will be exercised, the company will receive proceeds of approximately $3,794,115. |
