Business
Aurora Cannabis Provides Update on Initiatives to Strengthen Liquidity, Business Transformation Plan and COVID-19 Operational Response
Aurora Cannabis Provides Update on Initiatives to Strengthen Liquidity, Business Transform...
About this update from Aurora Cannabis Inc.
[{"type":"text","content":"\n\n\n\nAurora Cannabis Provides Update on Initiatives to Strengthen Liquidity, Business Transformation Plan and COVID-19 Operational Response\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, April 13, 2020\n\n\n\nNYSE | TSX: ACB\nStrengthened Cash Position with Plans for Additional Flexibility Given Economic Uncertainty Execution Against Business Transformation Plan Continues on Schedule All Facilities Fully Operational with COVID-19 Precautions in Place to Protect Staff Announced Intention to Consolidate Common Shares EDMONTON, April 13, 2020 /CNW/ - Aurora Cannabis Inc. (the \"Company\" or \"Aurora\") (NYSE | TSX: ACB), the Canadian company defining the future of cannabis worldwide, today provided an update related to its balance sheet flexibility, business transformation initiatives and COVID-19 operational response plans.\n\n \n \n \n \n \n \n\n \nStrengthened Cash Position:\nAurora has provided an update on its liquidity position:(Unless otherwise stated, $ in Canadian dollars)\nAs of March 31, 2020, the Company had approximately $205 million of cash. This includes all amounts raised under the existing, and now completed, US$400 million At-the-Market Offering program (\"ATM\"), initially announced in May 2019. Under the ATM, the Company issues common shares (the \"Common Shares\") at prevailing market prices without any new issue discounts, warrants or other dilutive securities; and To support the strength of the Company's balance sheet and provide continued access to equity capital, the Company today stated that it intends to file a new prospectus supplement for a renewed ATM program, to enable Aurora to raise additional equity capital pursuant to its outstanding base shelf prospectus dated May 14, 2019 under which approximately US$350 million remains available. The Company intends to use a portion of this available capacity to provide further balance sheet strength and preserve flexibility given macroeconomic uncertainty caused by COVID-19.Business Transformation Update:\nAurora has provided an update on its business transformation pla...