The Flowr Corporation Announces the Closing of the Strategic Acquisition of Terrace Global [Canadian Business Journal (Canada)]
Aurora Cannabis Inc. - Common Shares (ACB)
Company Research
Source: Canadian Business Journal
Highlights:The Company has closed its strategic acquisition of Terrace Global, creating an entity with a strong balance sheet and global footprint.The Board of Directors and shareholder base now includes former founders of MedReleaf Corp., ICC Labs Inc. and Bedrocan Canada Inc.Simultaneously, through liability management, the Company is expected to achieve meaningful debt reduction and amendments to the Company’s senior credit facility before the end of 2020.As part of the transaction, 9,266,538 common shares and 9,266,538 warrants of Flowr held by Terrace Global were cancelled resulting in a significant decrease to the issued and outstanding share capital.Overall indebtedness expected to be reduced by approximately $16.4 million upon completion of the conversion of the Company’s subordinated convertible debentures.Previously announced joint venture with Terrace Global in Portugal, will become wholly-owned by Flowr, unlocking additional value within the E.U.The Company expects approxi
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