Aurora Cannabis Closes $200 Million Debt Facility with BMO

Published: September 4, 2018

Aurora Cannabis Closes $200 Million Debt Facility with BMO

Aurora Cannabis Inc. has closed its previously announced debt facility with the Bank of Montreal (“BMO”). The facility consists of a $150 million term loan and a $50 million revolving credit facility (together, the “Loans”), both of which mature in 2021. Included in the facility is an option to upsize the facility to $250 million total following the implementation of Bill C-45 on October 17, 2018, subject to agreement by BMO and satisfaction of certain legal and business conditions.

The debt facility is primarily secured by Aurora’s production facilities, including Aurora Sky, Aurora Mountain, and Aurora Vie. Strategically located at Edmonton International Airport, Aurora Sky is the world’s most technologically advanced cannabis facility, projected to produce in excess of 100,000 kg per year of high-quality, low-cost per gram, cannabis upon completion.