Aurora Cannabis Inc., the Canadian company defining the future of cannabis worldwide, announced that it had closed its previously announced amended and upsized credit facilities with a syndicate of lenders led by the Bank of Montreal ("BMO"). The facilities consist of an additional C$160 million in term loans, as well as an accordion feature that enables Aurora to upsize the facility by approximately C$40 million, in addition to the original C$200 million in credit facilities all of which mature in 2021. The credit facilities will have a first ranking general security interest in the assets of Aurora and can be repaid without penalty at Aurora's discretion.
"We are very pleased to now have three of the five largest Schedule 1 Canadian bank in our syndicate, along with increased participation from other key syndicate partners," said Terry Booth, CEO of Aurora. "Our continued operational execution, world-class facilities, and strong corporate governance give our financing partners the confidence to step in as an important part of the Aurora story."
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