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Alcanna Inc. Announces $27.6 Million Secondary Bought Deal Offering by Aurora Cannabis Inc.
Alcanna Inc. Announces $27.6 Million Secondary Bought Deal Offering by Aurora Cannabis Inc...
About this update from Aurora Cannabis Inc.
[{"type":"text","content":"\n\n\n\nAlcanna Inc. Announces $27.6 Million Secondary Bought Deal Offering by Aurora Cannabis Inc.\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nEDMONTON, AB, June 3, 2020\n\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES FOR DISSEMINATION IN THE UNITED STATES/ \n EDMONTON, AB, June 3, 2020 /CNW/ - Alcanna Inc. (the \"Company\") (TSX: CLIQ) and Aurora Cannabis Inc. (\"Aurora\") (NYSE: ACB) (TSX: ACB) jointly announce that they have entered into an agreement with a syndicate of underwriters led by Cormark Securities Inc. (collectively, the \"Underwriters\") pursuant to which the Underwriters have agreed to purchase, on a \"bought deal\" basis, 9,200,000 common shares (\"Common Shares\") of the Company currently held by Aurora (the \"Offered Shares\") at a price of $3.00 per Offered Share and offer them to the public by way of short form prospectus for total gross proceeds to Aurora of approximately $27.6 million (the \"Offering\"). The Underwriters have not been granted an over-allotment option.\nThe Offered Shares represent approximately 23% of the issued and outstanding Common Shares of the Company and all of the Common Shares held by Aurora. As a result of the Offering, Aurora will no longer beneficially own, control or exercise direction over any remaining Common Shares in the Company. No Common Shares are being sold by the Company. The net proceeds from the Offering will be paid directly to Aurora, and the Company will not receive any proceeds from the Offering.\nClosing of the Offering is expected to occur on or about June 24, 2020, or such other date as may be agreed upon by the Company, Aurora and the Underwriters, and is subject to customary closing conditions and regulatory approvals, including that of applicable securities regulatory authorities.\nThe Offered Shares (i) will be qualified for distribution in Canada by way of a short form prospectus of the Company to be filed in each of the Provinces of Canada, other than Quebec, (ii) may be offered in the United States on a private placement basis to Qualified Institutional B...