Brief: Aurora Cannabis To Acquire MedReleaf in C$3.2 Bln Deal

East Side Games

14/05/2018 11:14

May 14 (Reuters) - Aurora Cannabis Inc  ACB.TO :
    * AURORA CANNABIS TO ACQUIRE MEDRELEAF
    * AURORA CANNABIS INC - HOLDERS OF MEDRELEAF COMMON SHARES
WILL
RECEIVE 3.575 COMMON SHARES OF AURORA FOR EACH MEDRELEAF COMMON
SHARE HELD
    * AURORA CANNABIS INC - EXCHANGE RATIO IMPLIES A PRICE OF
C$29.44
PER MEDRELEAF COMMON SHARE
    * AURORA CANNABIS INC - DEAL FOR VALUED AT APPROXIMATELY
C$3.2
BILLION
    * AURORA CANNABIS INC - UPON DEAL COMPLETION, EXISTING
AURORA AND
MEDRELEAF SHAREHOLDERS WOULD OWN APPROXIMATELY 61% AND 39% OF
PRO FORMA COMPANY
    * AURORA CANNABIS INC - UPON COMPLETION OF DEAL, BOARD OF
AURORA
WILL BE INCREASED TO 8 MEMBERS
    * AURORA CANNABIS INC - NORMA BEAUCHAMP & RONALD FUNK,
CURRENTLY
INDEPENDENT DIRECTORS OF MEDRELEAF, TO BE APPOINTED TO BOARD OF
AURORA
    * AURORA CANNABIS - AGREEMENT PROVIDES FOR RECIPROCAL
TERMINATION
FEES OF C$80 MILLION IF DEAL IS TERMINATED IN CERTAIN SPECIFIED
CIRCUMSTANCES
    * AURORA CANNABIS INC - HOLDERS OF ABOUT 56% OF MEDRELEAF'S
SHARES
ENTERED IRREVOCABLE HARD LOCK-UPS TO VOTE THEIR SHARES IN FAVOUR
OF DEAL
    * AURORA CANNABIS - DEAL ALSO PROVIDES FOR PAYMENT OF C$15
MILLION
EXPENSE REIMBURSEMENT FEE IF DEAL IS TERMINATED IN SOME OTHER
CIRCUMSTANCES
    * AURORA CANNABIS INC - AURORA INTENDS TO ACQUIRE SHARES OF
MEDRELEAF IN AN ALL-SHARE DEAL VALUED AT ABOUT C$3.2 BILLION ON
FULLY DILUTED BASIS

Source text for Eikon:  ID:nCNWSWqJya 
Further company coverage:  ACB.TO 

 (Reuters.Briefs@thomsonreuters.com)