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Aurora Cannabis increases ownership interest in Radient Technologies

Aurora Cannabis Inc. will invest C$12 million in Radient Technologies Inc. to increase its ownership in the company to 15.87% on a diluted basis from 8.8%.

Aurora Cannabis will exercise 15,856,321 Radient warrants for C$5.8 million and purchase another 4,541,889 Radient units priced at C$1.37 apiece for C$6.2 million.

The closing of the placement is subject to necessary approvals, including the TSX Venture Exchange.

Radient Technologies will use the proceeds to accelerate the expansion of its Edmonton facility, to buy the land adjacent to the facility and for working capital purposes.