Aurora Cannabis Inc. has closed a previously announced debt facility with the Bank of Montreal consisting of a $150-million term loan and a $50-million revolving credit facility, both of which mature in 2021.
Included in the facility is an option to upsize the facility to $250-million total following the implementation of Bill C-45 on October 17, 2018, subject to agreement by BMO and satisfaction of certain legal and business conditions.
The debt facility is primarily secured by Aurora’s production facilities, including Aurora Sky, Aurora Mountain, and Aurora Vie.
Strategically located at Edmonton International Airport, Aurora Sky is the world’s most technologically advanced cannabis facility, projected to produce in excess of 100,000 kg per year of high-quality, low-cost per gram, cannabis upon completion.
“With BMO and the syndicate lenders, Aurora gains significant runway to expansion opportunities that will positively contribute to our long-term margin profile and provide accelerated entry into multiple international markets,” said Terry Booth, CEO of Aurora.
“This additional capital positions us well to continue building the pre-eminent global cannabis company with a focus on vertically integrated, geographically and horizontally diversified assets.”
Headquartered in Edmonton, Aurora is one of the world’s largest and leading cannabis companies.
