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https://web.tmxmoney.com/article.php?newsid=6726374490727895&qm_symbol=RTI
Radient Announces Successful Closing of its Equity Offering for Gross Proceeds of $5,750,000
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
EDMONTON, Alberta, May 26, 2020 (GLOBE NEWSWIRE) -- Radient Technologies Inc. (“Radient” or the “Company”) (TSX Venture: RTI; OTCQX: RDDTF) is pleased to announce that it has closed its public equity financing initially announced on May 20, 2020. The Company issued 28,750,000 units (the “Units”) of the Company (which includes 3,750,000 Units issued pursuant to the exercise in full of the over-allotment option) at a price of $0.20 per Unit (the “Offering Price”) for aggregate gross proceeds of $5,750,000 (the “Offering”). The Offering was completed by Eight Capital (the “Agent”) as sole agent.
Each Unit consisted of one common share in the capital of the Company (a “Common Share”) and one Common Share purchase warrant (a “Warrant”). Each Warrant entitles the holder thereof to purchase one Common Share, at an exercise price of $0.30 until May 26, 2023. The Warrants will not be listed for trading on the TSX Venture Exchange or any other public exchange.
In connection with the Offering the Company has paid the Agent a cash fee equal to up to 7% of the aggregate proceeds from the Offering (the “Commission”). In addition to the Commission, the Company has issued to the Agent non-transferable compensation warrants equal to up to 7% of the Units sold under the Offering. Each compensation warrant is exercisable for a Unit at the Offering Price until May 26, 2023.
The net proceeds of the Offering will be used for working capital and general corporate purposes as set out in the Prospectus Supplement (as defined below).
The Offering was conducted in Canada pursuant to a prospectus supplement dated May 21, 2020 (the “Prospectus Supplement”) to the Company’s short form base shelf prospectus, filed in all of the provinces of Canada except for Québec, and offered outside of Canada on a private placement basis.
Certain management and insiders of the Company participated in the Offering and were issued an aggregate of 425,000 Units. Such participation in the Offering constitutes a “related party transaction” as defined in Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The Offering is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value of the securities issued to related parties nor the consideration for such securities exceed 25% of the Company’s market capitalization. The Company did not file a material change report 21 days prior to closing of the Offering as the participation of insiders of the Company in the Offering had not been confirmed at that time.
The Offering remains subject to the final approval of the TSXV.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state of the United States in which such offer, solicitation or sale would be unlawful. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “1933 Act”), and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons (as such terms are defined in Regulation S under the 1933 Act) absent registration or an applicable exemption from the registration requirements of the 1933 Act and any applicable state securities laws.
Our extraction partner Radient Technologies releases new products.
To my knowledge we still own 19.9% of Radient Tech. so this is money in the bank.
Radient Technologies Inc. Launches bioU, a Brand of High Quality Cannabis Extract Formulations Exclusively for Medical Cannabis by Shoppers EDMONTON, Alberta, May 21, 2020 (GLOBE NEWSWIRE) -- Radient Technologies Inc. (“Radient” or the “Company”) (TSX Venture: RTI; OTCQX: RDDTF), a global manufacturer of high quality cannabinoid-based ingredients, formulations and products, is pleased to announce the launch of bioU, a scientifically formulated brand exclusively sold to Medical Cannabis by Shoppers™ (“Shoppers”), a subsidiary of Shoppers Drug Mart Inc., and available across Canada. Radient’s first products released under the bioU label will be the Uspray series of high quality, scientifically formulated oral cannabis sprays. bioU Uspray will have three formulations available to consumers on the Medical Cannabis by Shoppers online platform; a THC dominant formula with 30mg/mL of THC and 1 mg/mL of CBD, a CBD dominant formula with 20 mg/mL CBD and 1 mg/mL THC, and a balanced formula with 10 mg/mL THC and 10 mg/mL CBD. All bioU products have been designed by Radient to retain cannabinoids and terpenes while providing high levels of purity and consistency. A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/6a47c568-48b7-40b2-ad40-cb7d1a08b2a9 “We are very excited to launch this line of products with Medical Cannabis by Shoppers. This is a key step for the Company in forging a long-term and successful partnership with one of Canada’s most trusted names in retail. We look forward to broadening our product offering with Shoppers and giving consumers access to the first branded products from Radient,” said Denis Taschuk, Chief Executive Officer, Radient Technologies. Radient plans on expanding the products available under the bioU brand over the coming months. The bioU brand will use Radient’s proprietary broad spectrum cannabinoid extracts along with an extensive library of internally developed formulations. Radient’s unique, continuous-flow extraction process has been proven to achieve a higher recovery of active compounds from the cannabis plant (up to 99%) than other extraction methods. It has lower risk of cannabinoid degradation during processing which allows products to maintain shelf life for a longer period of time, and has a high level of product consistency. Combining its unique extraction technology with stringent quality control systems and decades of botanical ingredient manufacturing experience, Radient produces a variety of broad spectrum cannabinoid formulations, ingredients and products that meet the highest standards of quality and safety. https://web.tmxmoney.com/article.php?newsid=7390427121225451&qm_symbol=RTI
That is Cannabis related still illegal on the federal level in the U.S so they cannot enter through Australis Capital. Reliva is CBD only no ties to cannabis.
All for these CBD products coming soon
https://www.roarsports.com
54.75% share loan rate today
Radient Technologies Inc. Launches bioU, a Brand of High Quality Cannabis Extract Formulations Exclusively for Medical Cannabis by Shoppers
EDMONTON, Alberta, May 21, 2020 (GLOBE NEWSWIRE) -- Radient Technologies Inc. (“Radient” or the “Company”) (TSX Venture: RTI; OTCQX: RDDTF), a global manufacturer of high quality cannabinoid-based ingredients, formulations and products, is pleased to announce the launch of bioU, a scientifically formulated brand exclusively sold to Medical Cannabis by Shoppers™ (“Shoppers”), a subsidiary of Shoppers Drug Mart Inc., and available across Canada.
Radient’s first products released under the bioU label will be the Uspray series of high quality, scientifically formulated oral cannabis sprays. bioU Uspray will have three formulations available to consumers on the Medical Cannabis by Shoppers online platform; a THC dominant formula with 30mg/mL of THC and 1 mg/mL of CBD, a CBD dominant formula with 20 mg/mL CBD and 1 mg/mL THC, and a balanced formula with 10 mg/mL THC and 10 mg/mL CBD. All bioU products have been designed by Radient to retain cannabinoids and terpenes while providing high levels of purity and consistency.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/6a47c568-48b7-40b2-ad40-cb7d1a08b2a9
“We are very excited to launch this line of products with Medical Cannabis by Shoppers. This is a key step for the Company in forging a long-term and successful partnership with one of Canada’s most trusted names in retail. We look forward to broadening our product offering with Shoppers and giving consumers access to the first branded products from Radient,” said Denis Taschuk, Chief Executive Officer, Radient Technologies.
Radient plans on expanding the products available under the bioU brand over the coming months. The bioU brand will use Radient’s proprietary broad spectrum cannabinoid extracts along with an extensive library of internally developed formulations. Radient’s unique, continuous-flow extraction process has been proven to achieve a higher recovery of active compounds from the cannabis plant (up to 99%) than other extraction methods. It has lower risk of cannabinoid degradation during processing which allows products to maintain shelf life for a longer period of time, and has a high level of product consistency. Combining its unique extraction technology with stringent quality control systems and decades of botanical ingredient manufacturing experience, Radient produces a variety of broad spectrum cannabinoid formulations, ingredients and products that meet the highest standards of quality and safety.
https://web.tmxmoney.com/article.php?newsid=7390427121225451&qm_symbol=RTI
Radient Technologies Announces $5 Million Equity Offering
EDMONTON, Alberta, May 20, 2020 (GLOBE NEWSWIRE) -- Radient Technologies Inc. (“Radient” or the “Company”) (TSX Venture: RTI; OTCQX: RDDTF) is pleased to announce a proposed offering of 25,000,000 units (the “Units”) at an offering price of $0.20 per Unit (the “Issue Price”), for aggregate gross proceeds of up to $5,000,000 (the “Offering”). The Units will be offered on a best efforts basis by Eight Capital, as agent for the Company (the “Agent”), pursuant to a prospectus supplement to Radient’s base shelf prospectus dated January 21, 2020 (collectively, the “Prospectus”). BDO Canada LLP is acting as Radient’s financial advisor in connection with the Offering.
Each Unit will be comprised of one common share in the capital of the Company (a “Common Share”) and one Common Share purchase warrant (a “Warrant”). Each Warrant will entitle the holder thereof to purchase one Common Share, at an exercise price of $0.30, for a period of 36 months following the closing of the Offering.
The Company has agreed to grant the Agents an over-allotment option (the “Over-Allotment Option”) to purchase up to an additional 15% of the Units at the Issue Price, exercisable in whole or in part, at any time on or prior to the date that is 30 days following the closing of the Offering. If this option is exercised in full, the Company will receive an additional $750,000 in gross proceeds for total aggregate gross proceeds of $5,750,000.
In connection with the Offering the Company has agreed to pay the Agent a cash fee of 7% of the aggregate gross proceeds raised from the Offering, and non-transferable compensation warrants (“Compensation Warrants”) equal to 7% of the Units sold under the Offering (in each case including any exercise of the Over-Allotment Option). Each Compensation Warrant will be exercisable into one Unit at the Issue Price for a period of 36 months following closing.
The Company intends to use the net proceeds of the Offering for working capital and general corporate purposes.
The closing date of the Offering is scheduled to be on or about May 26, 2020 and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the TSX Venture Exchange and the applicable securities regulatory authorities.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the United States Securities Act of 1933, as amended, and applicable state securities laws.
About Radient
Radient Technologies is a commercial manufacturer of high quality cannabinoid based formulations, ingredients and products. Utilizing a proprietary extraction and downstream processing platform that recovers up to 99% of cannabinoids from the cannabis plant, Radient develops specialty products and ingredients that contain a broad range of cannabinoid and terpene profiles while meeting the highest standards of quality and safety. Please visit www.radientinc.com for more information.
SOURCE: Radient Technologies Inc.
https://web.tmxmoney.com/article.php?newsid=8871277112339930&qm_symbol=RTI
How many UFC fans out there in the U.S? Millions upon millions is my guess.
Ariva is a U.S entry for Aurora through CBD products only.
Tie that in with the UFC deal and 20,000 retail channels to sell their products to millions of people across the U.S and Canada. This is geared specifically for a targeted audience of athletes and sports fans. We will soon see adverts in UFC events is my guess. Instant revenue for our CBD products
https://www.roarsports.com
And let us not forget about our extraction partner Radient Tech. Just filed for patents pertaining to CBD and viruses.
https://web.tmxmoney.com/article.php?newsid=7881372603633509&qm_symbol=RTI
Long plays 3-5 years imo
Maybe this will tie in with the whole Reliva CBD scenario as well.
https://www.roarsports.com
Our extraction partner has news today that will affect us as well.
Radient Tech. RTI RDDTF
https://web.tmxmoney.com/article.php?newsid=7881372603633509&qm_symbol=RTI
And here it is the news
https://web.tmxmoney.com/article.php?newsid=7881372603633509&qm_symbol=RTI
ACB and UFC
https://www.roarsports.com
I just found this and I bet Radient extracts the CBD for Aurora
https://www.roarsports.com
Damn you might be right
Should have held
46.8% share loan rate today
Wow pop lol
Our extraction partner Radient Tech. Was halted Friday on pending news but still no news. Anyone have any info as this could directly impact oils for ACB?
RTI
RDDTF
Pre market pop up over $1
I think the other one is spliff
Glad I did not listen to you on that one lol I am sitting on 2500 freebies after R/S
GLTU
Yea Monday
Nothing that I have seen. It was on the rise when it halted up .06 in Canada if that means anything at all
101 mil shares traded today that is crazy. Float appears to be locking up if this keeps up as you stated in your vid.
44.65% on loaned shares today wow
Just got a message back from broker all good now just some hiccup
Anyone have their loaned shares returned without requesting it?
Up over $8 pre market
109 mil
Yea @ a 39% loan rate lol
Capacity according to an article provided by bucky4
“The company has an yearly cultivation capacity of 8,000 kilograms of dried flower and owns a 14,000 square-feet (0.13 hectares) extraction facility that is GMP and ISO compliant.”
They are not very big. The revenue generation will be small for a long time to come. They will surely need to increase capacity in the coming years to meet demand.
109 mil
Financials come out today
Anyone know how they will calculate EPS this Q will it be based on old share structure or new share structure?
Anyone know off hand their total annual production capacity?
It is in here
Aurora Cannabis Provides Update on Initiatives to Strengthen Liquidity, Business Transformation Plan and COVID-19 Operational...
Source: PR Newswire (Canada)
NYSE | TSX: ACB
Strengthened Cash Position with Plans for Additional Flexibility Given Economic Uncertainty
Execution Against Business Transformation Plan Continues on Schedule
All Facilities Fully Operational with COVID-19 Precautions in Place to Protect Staff
Announced Intention to Consolidate Common Shares
EDMONTON, April 13, 2020 /CNW/ - Aurora Cannabis Inc. (the "Company" or "Aurora") (NYSE | TSX: ACB), the Canadian company defining the future of cannabis worldwide, today provided an update related to its balance sheet flexibility, business transformation initiatives and COVID-19 operational response plans.
Aurora Cannabis (CNW Group/Aurora Cannabis Inc.)
Strengthened Cash Position:
Aurora has provided an update on its liquidity position:
(Unless otherwise stated, $ in Canadian dollars)
As of March 31, 2020, the Company had approximately $205 million of cash. This includes all amounts raised under the existing, and now completed, US$400 million At-the-Market Offering program ("ATM"), initially announced in May 2019. Under the ATM, the Company issues common shares (the "Common Shares") at prevailing market prices without any new issue discounts, warrants or other dilutive securities; and
To support the strength of the Company's balance sheet and provide continued access to equity capital, the Company today stated that it intends to file a new prospectus supplement for a renewed ATM program, to enable Aurora to raise additional equity capital pursuant to its outstanding base shelf prospectus dated May 14, 2019 under which approximately US$350 million remains available. The Company intends to use a portion of this available capacity to provide further balance sheet strength and preserve flexibility given macroeconomic uncertainty caused by COVID-19.
Business Transformation Update:
Aurora has provided an update on its business transformation plan as previously announced in February 2020. The Company stated that:
Aurora remains on track with its previously announced business transformation targets, including: (1) material selling, general and administrative cost reductions; (2) significant reductions in capital expenditures; and (3) reducing complexity across the organization;
Aurora today reaffirmed its previous commentary that fiscal Q3 2020 cannabis net revenue is expected to show modest growth relative to fiscal Q2 2020; and
Aurora today announced that its Board of Directors has approved, subject to required regulatory and stock exchange approvals, a plan to consolidate all of its outstanding Common Shares on the basis of 1 Common Share for every 12 Common Shares currently outstanding (the "Consolidation"), with such Consolidation to be effective on or about May 11, 2020. The Company expects the Consolidation to restore compliance with the NYSE's continued listing standards, and to provide access to a broad universe of investors, access to equity capital and trading liquidity. Further details regarding the Consolidation can be found below under the heading "Information Regarding the Share Consolidation Plan".
"Our focus today continues to be on financial discipline across the entire organization. We are taking appropriate actions to strengthen our cash position and maintain financial flexibility as we navigate through the current environment," said Michael Singer, Executive Chairman and Interim CEO. "As Aurora drives towards generating positive free cash-flow, we are confident that our shareholders will be supportive of our further actions to solidify our balance sheet and position the Company for success."
COVID-19 Operational Response
The Company has taken responsible measures to maximize the safety of staff working at all of its facilities. This includes reorganizing physical layouts, adjusting schedules to improve social distancing, implementing extra health screening measures for employees and applying rigorous standards for personal protective equipment. Aurora has also introduced a special bonus pay program for active facility-based staff.
All of Aurora's facilities in Canada and internationally continue to be fully operational and the Company is working closely with local, national and international authorities to ensure it is following or exceeding the stated guidelines related to COVID-19 within each region.
"The health and well-being of our employees is of the highest importance and our protective measures have been further enhanced during this time of a global health crisis," said Mr. Singer. "We have proactively taken the necessary steps to re-engineer our facility workspaces and provide office-based employees with 'work from home' arrangements. I am proud of the hard work and commitment of every member of the Aurora team. Through their efforts, we are able to continue to serve patients and consumers across Canada and around the world under these extraordinary circumstances."
Information Regarding the Share Consolidation Plan
As discussed above, the Company's Board of Directors has approved a consolidation of the Company's Common Shares on a 12 to 1 basis. The Consolidation will be effective on or about May 11, 2020 (the "Effective Date") and on such date the Company expects to begin trading on the New York Stock Exchange (the "NYSE") and the Toronto Stock Exchange (the "TSX") on a post-Consolidation basis. The Consolidation and the timing of the Effective Date are subject to the approval of both the NYSE and TSX.
The Company currently has 1,313,494,990 Common Shares outstanding and, assuming no additional Common Shares are issued prior to the Consolidation, the Consolidation will reduce the issued and outstanding Common Shares to approximately 109,457,915 Common Shares.
The Company will not be issuing fractional post-Consolidation Common Shares in connection with the Consolidation. Where the Consolidation would otherwise result in a shareholder being entitled to a fractional Common Share, the number of post-Consolidation Common Shares issued to such holder of Common Shares shall be rounded up or down to the nearest whole number of Common Shares.
A letter of transmittal (a "Letter of Transmittal") with respect to the Consolidation will be mailed to registered shareholders of the Company. All registered shareholders with physical certificates will be required to send their certificates representing pre-Consolidation Common Shares along with a completed Letter of Transmittal to the Company's transfer agent, Computershare Trust Company of Canada ("Computershare"), in accordance with the instructions provided in the Letter of Transmittal. Additional copies of the Letter of Transmittal can be obtained through Computershare. All shareholders who submit a duly completed Letter of Transmittal along with their pre-Consolidation Common Share certificate(s) to Computershare will receive a post-Consolidation Common Share certificate. Shareholders who hold their Common Shares through a broker or other intermediary and do not have Common Shares registered in their name will not need to complete a Letter of Transmittal.
The exercise or conversion price and the number of Common Shares issuable under any of the Company's outstanding warrants, convertible debentures, stock options and securities convertible in Common Shares will be proportionately adjusted to reflect the Consolidation in accordance with the respective terms thereof.
On April 8, 2020, the Company received notification from the NYSE that, as a result of its Common Share price falling below an average of US$1.00 for a consecutive 30 trading-day period, it is not in compliance with one of the NYSE's continued listing standards. The Company's Consolidation plan above is in response to this notification received. The Company expects the Consolidation to restore compliance with the NYSE's continued listing standards, and to continue to provide access to a broad universe of investors, access to equity capital and trading liquidity. Non-compliance with the NYSE's price listing standard does not affect the Company's business operations or its reporting requirements to any regulatory authorities, nor does it breach or cause an event of default under any of the Company's agreements with its lenders. In addition, non-compliance with the NYSE price listing standard does not affect the continued listing and trading of the Common Shares on the TSX.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy any securities, nor shall there be any sale of Company securities in any jurisdiction in which an offer, solicitation or sale would be unlawful prior to further registrations or qualifications under the securities laws of any such jurisdiction. Any public offering of securities to be made in the United States will be made by means of a prospectus that may be obtained at such time from the Company and that will contain detailed information about the Company and management, as well as financial statements.
About Aurora
Aurora is a global leader in the cannabis industry serving both the medical and consumer markets. Headquartered in Edmonton, Alberta, Aurora is a pioneer in global cannabis dedicated to helping people improve their lives. The Company's brand portfolio includes Aurora, Aurora Drift, San Rafael '71, Daily Special, AltaVie, MedReleaf, CanniMed, Whistler, and ROAR Sports. Providing customers with innovative, high-quality cannabis and hemp products, Aurora's brands continue to break through as industry leaders in the medical, performance, wellness and recreational markets wherever they are launched. For more information, please visit our website at www.auroramj.com.
Aurora's Common Shares trade on the TSX and NYSE under the symbol "ACB", and is a constituent of the S&P/TSX Composite Index.
Forward Looking Statements
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. These forward-looking statements are only predictions. Various assumptions were used in drawing the conclusions or making the projections contained in the forward-looking statements throughout this news release. Forward-looking statements are based on the opinions, estimates and assumptions of management in light of management's experience and perception of historical trends, current conditions and expected developments at the date the statements are made, such as current and future market conditions, the current and future regulatory environment and future approvals and permits. 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, including general business and economic conditions, changes in laws and regulations, product demand, changes in prices of required commodities, competition, the effects of and responses to the COVID-19 pandemic and other risks, uncertainties and factors set out under the heading "Risk Factors" in the Company's annual information form dated September 10, 2019 (the "AIF") and filed with Canadian securities regulators available on the Company's issuer profile on SEDAR at www.sedar.com. The Company cautions that the list of risks, uncertainties and other factors described in the AIF is not exhaustive and other factors could also adversely affect its results. Readers are urged to consider the risks, uncertainties and assumptions carefully in evaluating the forward-looking statements and are cautioned not to place undue reliance on such information. The Company is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities laws.
The Company uses financial measures regarding itself, such as cannabis net revenue, that do not have standardized meaning under the International Financial Reporting Standards ("IFRS") and may not be comparable to similar measures presented by other entities ("non-IFRS measures"). Further information relating to non-IFRS measures, is set out in the Company's management discussion and analysis for the three and six months ended December 31, 2019 and 2018 under the heading "Cautionary Statement Regarding Non-GAAP Performance Measures" and the "Revenue" section for reconciliation to the IFRS equivalent.
Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/aurora-cannabis-provides-update-on-initiatives-to-strengthen-liquidity-business-transformation-plan-and-covid-19-operational-response-301039159.html
SOURCE Aurora Cannabis Inc.
Copyright 2020 Canada NewsWire
Q comes out 14th this was well planned out so don’t lose hope yet. I stated when they announced the R/S it was all about timing.
New CEO soon
Q on the 14th same week as R/S that is not typical, most companies put their Q off as long as possible after R/S
Full production mode with Germany back online
First full Q reporting with 2.0 sales included
Several months of production mode only with no projects and an employee reduction of over 500, huge cost savings for the Q
Over 200 mil cash on hand for operations
This is PLAN B everything is already running smoothly in streamlined production mode. The growth phase is done no more spending for growth. Contracts in place still in 25 countries globally. Now it is time to make money the money spenders are no longer at the ATM helm.
GLTA