Thursday, September 14, 2017 2:44:30 PM
Under the terms of the purchase agreement, dated May 18, 2017, Aurora will pay a consideration to holders of Class B securities of Pedanios approximately 3,421,756 common shares of Aurora, priced at $2.14 per share. In addition, a total consideration of approximately $13,565,000 in cash and common shares is payable to the holders of Class A common shares of Pedanios, which are held by the two founders/Managing Directors of Pedanios who will continue to run the company. The cash portion for the two founders being $3,020,000 and the share portion being 4,895,026 common shares of Aurora, priced at $2.14 per share, of which 17% will become free trading 4 months after closing, with the balance becoming unrestricted in equal installments on a quarterly basis over 27 months, commencing in February 2018. Total shares of Aurora being issued over 3 years represent less than 2% of total shares outstanding. Aurora's cash balance as of May 15, 2017 was $165,000,000. Values herein have been calculated based on an exchange rate of 1.51 Canadian dollars to every 1 Euros.
It is from this news release on May 26, 2017 regarding the acquisition of Pedanios.
http://www.newswire.ca/news-releases/aurora-acquires-german-medical-cannabis-market-leader-pedanios-gmbh-624649463.html
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