Advertisement
Canada markets closed
  • S&P/TSX

    22,167.03
    +59.95 (+0.27%)
     
  • S&P 500

    5,254.35
    +5.86 (+0.11%)
     
  • DOW

    39,807.37
    +47.29 (+0.12%)
     
  • CAD/USD

    0.7380
    -0.0007 (-0.09%)
     
  • CRUDE OIL

    83.11
    -0.06 (-0.07%)
     
  • Bitcoin CAD

    95,233.27
    -607.73 (-0.63%)
     
  • CMC Crypto 200

    885.54
    0.00 (0.00%)
     
  • GOLD FUTURES

    2,254.80
    +16.40 (+0.73%)
     
  • RUSSELL 2000

    2,124.55
    +10.20 (+0.48%)
     
  • 10-Yr Bond

    4.2060
    +0.0100 (+0.24%)
     
  • NASDAQ

    16,379.46
    -20.06 (-0.12%)
     
  • VOLATILITY

    13.01
    0.00 (0.00%)
     
  • FTSE

    7,952.62
    +20.64 (+0.26%)
     
  • NIKKEI 225

    40,369.44
    +201.37 (+0.50%)
     
  • CAD/EUR

    0.6837
    -0.0006 (-0.09%)
     

Aurora Cannabis files prospectus to raise up to US$750 million

Aurora Cannabis Inc. (ACB.TO) has filed a preliminary prospectus with securities regulators to raise up to US$750 million over the course of 25 months through shares, debt and other offerings.

The Edmonton-based producer’s executive chairman Michael Singer said in a news release late Tuesday that the funds are earmarked for “global expansion and partnering strategy,” although the company has no immediate intention of drawing capital against the shelf prospectus.

"With our recent listing on the NYSE, our successful financing in January 2019 led by U.S. institutional investors, and as we work with Nelson Peltz to explore potential partnership opportunities, this filing is a natural evolution for our company as we rapidly mature into a global and profitable organization," Singer stated in the release.

Subscribe today
Subscribe today

“We have introduced this option as a prudent and long-term strategic measure to provide us with flexibility in access to growth capital, if or when required, to continue executing on our global expansion and partnering strategy.”

ADVERTISEMENT

The addition of Peltz as a strategic advisor last month stirred speculation that Aurora is nearing deal with a mainstream consumer packaged goods company.

Peltz has deep ties to a range of major companies including Procter & Gamble Co. (PG), Danone SA (BN.PA) and PepsiCo, Inc. (PEP) through his role as chief executive officer and founding partner of the investment firm Trian Fund Management L.P.

New York-listed shares fell 2.65 per cent to $8.82 at 8:36 a.m. ET.

Download the Yahoo Finance app, available for Apple and Android.