Aurora Repurchases ~$22 Million Principal Amount of Convertible Notes, Saving $1.2 Million in Annualized Interest Payments and Leaving ~$79 Million (US$59) of Notes Outstanding; Balance Sheet Remains Among Strongest in Canadian Cannabis Industry
NASDAQ | TSX: ACB
The purpose of the transactions was to reduce the Company's debt and annual cash interest costs, reinforcing our commitment to financial discipline. Aurora has repurchased an aggregate of approximately
Aurora's balance sheet remains amongst the strongest in the Canadian cannabis industry. Having achieved the goal of Adjusted EBITDA Profitability for the quarter ended
This announcement does not constitute an offer to sell, or a solicitation of an offer to buy any security and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offering would be unlawful.
Aurora is opening the world to cannabis, serving both the medical and consumer markets. Headquartered in
Aurora's common shares trade on the NASDAQ and TSX under the symbol "ACB".
This news release includes statements containing certain "forward-looking information" within the meaning of applicable securities law ("forward-looking statements"). Forward-looking statements are frequently characterized by words such as "plan", "continue", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements made in this news release include, but are not limited to, statements regarding the Company's commitment to financial discipline, including the repurchase of notes, future interest savings, and balance sheet strength, and the Company's continued focus on profitable growth in both global medical and Canadian adult use markets.
These forward-looking statements are only predictions. Forward looking information or statements contained in this news release have been developed based on assumptions management considers to be reasonable. Material factors or assumptions involved in developing forward-looking statements include, without limitation, publicly available information from governmental sources as well as from market research and industry analysis and on assumptions based on data and knowledge of this industry which the Company believes to be reasonable. Forward-looking statements are subject to a variety of risks, uncertainties and other factors that management believes to be relevant and reasonable in the circumstances 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 personnel, the ability to continue investing in infrastructure to support growth, the ability to obtain financing on acceptable terms, the continued quality of our products, customer experience and retention, the development of third party government and non-government consumer sales channels, management's estimates of consumer demand in
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