Nasdaq | TSX: ACB
Edmonton, dadAnd May 5 2022 /PRNewswire/ – Aurora Cannabis Inc. (The “company” or “Aurora”) (NASDAQ: ACB(TSX:ACB), the Canadian company that is defining the future of cannabis worldwide, announced today that it has completed its previously announced acquisition of TerraFarma Inc. (the parent company of Thrive Cannabis) (“Thrives“) (The “Transaction‘) for the overall initial consideration of $38 million Paid in cash and Aurora common stock (“Aurora Arrow”) and up to $30 million In amounts of potential winnings, payable in cash, Aurora stock or both (when Aurora is selected), subject to Thrive achieving certain revenue targets within two years of closing the deal.
“With the deal closed, we are officially welcome Jeff Hoover and his team to Aurora” Miguel MartinCEO of Aurora. “We look forward to the expertise they will bring to our Canadian entertainment business and Aurora’s leadership in global cannabis.”
He commented, “We are delighted to join the Aurora team. Through this partnership, we will be able to offer our expertise in producing a quality product to the Aurora family of brands, which will ultimately benefit even more consumers.” Jeff Hooverthe former CEO of Thrive who joined Aurora as Senior Vice President, Consumer.
The transaction is expected to strategically position Aurora in the Canadian market by placing the Thrive team in charge of Aurora’s Canadian entertainment portfolio and promoting a shift in focus to innovative premium products including dried flowers, pre-rolls, steam products and concentrates.
About Aurora Hemp
Aurora is a leading global cannabis company, serving both the medical and consumer markets. Headquartered in Edmonton, AlbertaAurora is a leader in the global cannabis industry, dedicated to helping people improve their lives. Includes adult corporate brand portfolio Aurora DriftAnd San Rafael 71And Today’s specialAnd Whistleras well as CBD brands, RELIVA And KG7. medical cannabis Brands include MedReleaf, CanniMed, Aurora, Whistler Medical Marijuana Co, and Pedanios. Driven by science and innovation, and with a focus on high-quality cannabis products, Aurora brands continue to advance as industry leaders in the medical, performance, wellness, and adult entertainment markets wherever they are launched. Learn more through www.auroramj.com and follow us Twitter And LinkedIn.
Aurora’s common stock is traded on NASDAQ and TSX under the symbol “ACB” and is a component of the S&P/TSX Composite Index.
About flourish cannabis
Founded in 2018, cannabis flourish is a vertically integrated cannabis company based in Simcoe, Ontario. Thrive is widely known for its leading award winning adult brand, Graybeard Cannabis Co., which specializes in high quality, small craft cannabis concentrates and flower products. Thrive is also known for its wellness-oriented brand for adult use, Being. The Thrive team leverages their expertise in cannabis cultivation, extraction and product development with a unique focus on delivering high quality products to consumers. Learn more through www.thrivecannabis.ca.
This news release contains statements that contain certain “forward-looking information” within the meaning of applicable securities law (“forward-looking statements”). Forward-looking statements are often characterized by phrases such as “plan,” “continue,” “expect,” “project,” “intend,” “believe,” “expect,” “estimate,” “may,” “will,” “potential” , “suggested” and other similar words, or statements that certain events or circumstances “may” or “will” occur. Forward-looking statements in this press release include, but are not limited to, statements regarding the impact that Aurora’s transaction management expertise and prosperity will have on Aurora’s Canadian entertainment business and position in the global cannabis space, the advancement of Aurora’s product portfolio and overall premium strategy, and associated benefits to consumers .
These forward-looking statements are merely predictions. The information or forward-looking statements contained in this press release have been developed based on assumptions that management considers reasonable. Material factors or assumptions involved in developing forward-looking statements include, but are not limited to, publicly available information from government sources as well as from market research and industry analysis and on assumptions based on data and industry knowledge that the Company believes are reasonable. Forward-looking statements are subject to a variety of risks, uncertainties and other factors that management believes are relevant and reasonable in circumstances that could cause actual events, results, level of activity, performance, prospects, opportunities or achievements to differ materially from those projected in the forward-looking statements. These risks include, but are not limited to, the ability to retain key employees, the ability to continue investing in infrastructure to support growth, the ability to obtain financing on acceptable terms, the ongoing quality of our products, customer experience and retention, and the development of government and non-governmental consumer sales channels. governmental third-party management estimates of consumer demand in Canada and in the jurisdictions in which the company is issued, expectations of future results and expenses, risks of successful integration of business and operations acquired, management’s assessment that SG&A will grow only in proportion to revenue growth, ability to expand and maintain distribution capabilities, impact of competition, overall effect of financial market conditions, revenue From cannabis cultivations, product demand, changes in the price of ordered goods, competition, the possibility of changes in laws, rules and regulations in the industry, epidemics, epidemics or other public health crises, including the current outbreak of COVID-19, risks, uncertainties and other factors described Under “Risk Factors” in the company’s dated annual information form September 27, 2021 (“AIF”) and filed with the Canadian Securities Regulators are available on the Company’s Issuer Profile on SEDAR at www.sedar.com Filed and available on the SEC website at www.sec.gov. The Company cautions that the list of risks, uncertainties and other factors described in the AIF is not exhaustive and other factors could adversely affect its results. Readers are encouraged to consider risks, uncertainties and assumptions carefully in evaluating forward-looking statements and are cautioned against undue reliance on such information. The Company is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities law.
Neither TSX nor the Regulatory Services Provider (as this term is defined in the TSX Policies) accepts responsibility for the adequacy or accuracy of this version.
Source: Aurora Cannabis Inc.