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Aurora Cannabis Announces Sale of Remaining Shares in The Green Organic Dutchman

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Aurora Cannabis Inc. ("Aurora or the "Company") (NYSE | TSX: ACB), the Canadian company defining the future of cannabis worldwide, announced that on September 3, 2019, Aurora disposed of its remaining 28,833,334 shares, representing 10.5% of the issued and outstanding shares of The Green Organic Dutchman Holdings Ltd ("TGOD"), at a price of $3.00 per share for aggregate gross proceeds of $86.5 million. The completion of the sale of TGOD shares represents an approximate 50% internal rate of return for the Company. As a result of this transaction, Aurora no longer holds any shares of TGOD, however does continue to hold warrants to purchase 16,666,667 shares of TGOD.

"Aurora has a broad portfolio of strategic investments that allow us to participate in opportunities throughout the cannabis sector while providing the company with non-dilutive access to capital," said Terry Booth, CEO of Aurora. "We evaluate our investment portfolio on a regular basis to make sure it continues to align with our investment strategy and corporate priorities. When we acquired Whistler Medical Marijuana Corporation – an iconic and premium organic cannabis producer – our interest in TGOD became less important to our core strategy. Our return on our TGOD investment is significant and will add non-dilutive capital and further enhance our strategy to remain a dominant force in the global cannabis industry."

 

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