Aurora Cannabis to Raise up to $60M for Business Expansion
Licensed producer Aurora Cannabis Inc. (TSXV:$ACB) announced on Tuesday, October 10, that it plans to raise up to $60 million under a bought deal financing. The company intends to use the financing proceeds for domestic and international expansion, as well as working capital.
“This financing ensures that we have the financial horsepower we need to keep going at full throttle and continue seizing and capitalizing on attractive growth opportunities in Canada and around the world,” said Terry Booth, CEO. “With Aurora’s excellent balance sheet and what we believe is the strongest cash position in the industry, we are ideally positioned to further accelerate our aggressive growth strategy, further expand production capacity, and enter multiple new international markets.”
Currently, Aurora operates the 55,200-square-foot Aurora Mountain production facility in Mountain View County, Alberta. It is also constructing a second 800,000-square-foot production facility, known as Aurora Sky, at the Edmonton International Airport, and has acquired and is undertaking completion of a third 40,000-square-foot production facility in Pointe-Claire, Quebec.
Just last week, the company announced its plan to launch Aurora Envoy, its patent-pending live plant transporter, in the coming months. This transporter contains many innovative features, including Childproof and tamper-evident design and a long-lasting internal power source (over 200 hours).
Featured Image: twitter
