Aurora Hashish Inc. (the “Firm” or “Aurora”) (NASDAQ: ACB) (TSX: ACB), the Canadian firm defining the way forward for cannabinoids worldwide, right this moment introduced that it has repurchased an combination of roughly $102.5 million ( US$76.1 million ) principal quantity of its convertible senior notes (“Notes”) at a complete price, together with accrued curiosity, of $99.4 million ( US$73.8 million ) in money. Following completion of this repurchase, Aurora could have roughly $148 million ( US$110 million ) of Notes excellent.
The aim of the transaction, which represents a repurchase of a portion of the Notes at a 4.5% low cost to par worth, was to scale back the Firm’s debt and annual money curiosity prices. Aurora has repurchased an combination of roughly $316.5 million ( US$235 million ) principal quantity of its convertible senior notes during the last twelve months, leading to annual money curiosity financial savings of roughly $17.4 million ( US$12.9 million ).
Aurora’s stability sheet stays amongst the strongest within the trade, and the Firm reiterates its expectation of reaching Adjusted EBITDA Profitability by December 31, 2022 .
This announcement doesn’t represent a proposal to promote, or a solicitation of a proposal to purchase, any safety and shall not represent a proposal, solicitation or sale in any jurisdiction through which such providing can be illegal.
About Aurora
Aurora is a world chief within the hashish trade, serving each the medical and shopper markets. Headquartered in Edmonton, Alberta , Aurora is a pioneer in world hashish, devoted to serving to folks enhance their lives. The Firm’s adult-use model portfolio contains Aurora Drift , San Rafael ’71 , Daily Special , Whistler , Being and Greybeard , in addition to CBD manufacturers, Reliva and KG7 . Medical cannabis manufacturers embody MedReleaf, CanniMed, Aurora and Whistler Medical Marijuana Co. Aurora additionally has a controlling curiosity in Bevo Farms , North America’s main provider of propagated agricultural crops. Pushed by science and innovation, and with a concentrate on high-quality hashish merchandise, Aurora’s manufacturers proceed to interrupt by as trade leaders within the medical, efficiency, wellness and grownup leisure markets wherever they’re launched. Study extra at www.auroramj.com and observe us on Twitter and LinkedIn . Aurora’s widespread shares commerce on the NASDAQ and TSX underneath the image “ACB”.
Ahead Wanting Statements
This information launch contains statements containing sure “forward-looking info” throughout the that means of relevant securities regulation (“forward-looking statements”). Ahead-looking statements are incessantly characterised by phrases reminiscent of “plan”, “proceed”, “count on”, “challenge”, “intend”, “consider”, “anticipate”, “estimate”, “could”, “will”, “potential”, “proposed” and different related phrases, or statements that sure occasions or situations “could” or “will” happen. Ahead-looking statements made on this information launch embody, however will not be restricted to, statements concerning the aim of the debt repurchase and the Firm’s path and timing to attain Adjusted EBITDA profitability.
These forward-looking statements are solely predictions. Ahead trying info or statements contained on this information launch have been developed based mostly on assumptions administration considers to be cheap. Materials elements or assumptions concerned in creating forward-looking statements embody, with out limitation, publicly accessible info from governmental sources in addition to from market analysis and trade evaluation and on assumptions based mostly on information and information of this trade which the Firm believes to be cheap. Ahead-looking statements are topic to a wide range of dangers, uncertainties and different elements that administration believes to be related and cheap within the circumstances might trigger precise occasions, outcomes, degree of exercise, efficiency, prospects, alternatives or achievements to vary materially from these projected within the forward-looking statements. These dangers embody, however will not be restricted to, the flexibility to retain key personnel, the flexibility to proceed investing in infrastructure to assist progress, the flexibility to acquire financing on acceptable phrases, the continued high quality of our merchandise, buyer expertise and retention, the event of third occasion authorities and non-government shopper gross sales channels, administration’s estimates of shopper demand in Canada and in jurisdictions the place the Firm exports, expectations of future outcomes and bills, the danger of profitable integration of acquired enterprise and operations, administration’s estimation that SG&A will develop solely in proportion of income progress, the flexibility to increase and keep distribution capabilities, the affect of competitors, the overall affect of monetary market situations, the yield from hashish rising operations, product demand, modifications in costs of required commodities, competitors, and the likelihood for modifications in legal guidelines, guidelines, and rules within the trade, epidemics, pandemics or different public well being crises, together with the present outbreak of COVID-19, and different dangers, uncertainties and elements set out underneath the heading “Danger Elements” within the Firm’s annual info kind dated September 30, 2022 (the “AIF”) and filed with Canadian securities regulators accessible on the Firm’s issuer profile on SEDAR at www.sedar.com and filed with and accessible on the SEC’s web site at www.sec.gov . The Firm cautions that the record of dangers, uncertainties and different elements described within the AIF just isn’t exhaustive and different elements might additionally adversely have an effect on its outcomes. Readers are urged to think about the dangers, uncertainties and assumptions fastidiously in evaluating the forward-looking statements and are cautioned to not place undue reliance on such info. The Firm is underneath no obligation, and expressly disclaims any intention or obligation, to replace or revise any forward-looking statements, whether or not because of new info, future occasions or in any other case, besides as expressly required by relevant securities regulation.
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SOURCE Aurora Hashish Inc.
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