Aurora Cannabis Inc. completed its C$12 million investment in Radient Technologies Inc.
Under the investment, Aurora exercised 15,856,321 Radient warrants for C$5.8 million and bought another 4,541,889 Radient units priced at C$1.37 apiece for C$6.2 million.
Each unit consisted of 1 common share of Radient and 1 common share purchase warrant.
Radient intends to use the proceeds from the investment to expand its Edmonton facility, the purchase of land adjacent to this facility for further expansion as well as for working capital purposes.
After the investment, Aurora holds 37,643,431 common shares and 4,541,889 share purchase warrants of Radient, representing about 17.23% of the company's issued and outstanding common shares and 15.87% of the issued and outstanding common shares on a fully diluted basis.
