Bevo Will Continue to be run by exce existing management team; Robust Growth Plan Includes use of Aurora Sky For Ornamental Plant Cultivation and for Vegetable Propagation.
Use of the Aurora Sky Facility for Orchid Cultivity and Vegetable Propagation.
June.
"This investment once again demonstrates our disciplined capital allocation approach and is consistent with both our short term needs and long-term vision to be the leading global cannabis company. Bevo’s track record in generating not only positive Adjusted EBITDA but free cash flow, world class propagation expertise, and established distribution networks in and makes them an ideal strategic partner," said , Chief Executive Officer of Aurora. "We expect this investment and collaboration between industry leaders will drive significant shareholder value and synergies for both parties. We are also excited about Bevo repurposing Aurora Sky and the potential to expand the scale and scope of their business and saving significant costs previously expected in connection with the wind down and sale of the facility".
, President & CEO of Bevo, added, "Since inception, Bevo has taken great pride in utilizing state-of-the-art technology to become a leading plant propagator in . We are delighted to join forces with Aurora to pursue our high growth strategy , starting with our move into which allows us to significantly expand Bevo’s addressable market. We are incredibly happy that the Aurora team is committed to keeping all of our facilities dedicated to our customer base, and to expanding our operations into through the addition of the Aurora Sky facility. It is clear that the Aurora team is deeply aligned with our existing business plans and objectives for profitable growth, and we look forward to building upon the strengths of Aurora as a sponsor to accelerate our business."
Adjusted eBitda for over 10 years.
across the indertely.
significant equity ownership.
Aurora Is Purchasing Its Controlling Interest Interest In Bevo from Certain of Bevo’s Existing Shareholders (The "Bevo Selling Shareholders"
Lazard Canada Inc. ACTD As Exclusive Financial Advisor and Stikeman Elliott Llp ACTED As Legal Counsel to Aurora in Connection with the Transaction.
Agentis Capital Advisors ACTED As Exclusive Financial Advisor and Fasken Martineau Dumoulin LLP ACTED As Legal Counsel to Bevo in Connection with the TranAction.
Aurora’s Common Shares Trade On the Nasdaq and TSX Under The Symbol "ACB" and is a Constituent of the S & P/TSX Composite Index.
, Cucumbers, and Other Plants Such as Bedding Plants, Flowers and Grasses. Bevo Markets Its Products to Established Greenhouse Groupers, Nurseries and Retail Outlets Throghhlet
", Project", "Intend", "Believe", "Anticipate", "Estimate", "May", "Will", "Potential", "PROPOSED" and Other Similar Words, or Statements That CERTAIN EVENTS "
Demand, Changes in Prices of Required Commodities, Competition, and the PossiBility for Changes in Laws, Rules, and regulations in the industry, epidemics, pandemics or other public health crises, including the current outbreak of COVID-19, and other risks, uncertainties and factors set out under the heading "Risk Factors" in the Company’s annual information form dated (the " AIF") and filed with Canadian securities regulators available on the Company’s issuer profile on SEDAR at www.sedar.com and filed with and available on the SEC’s website at www.sec.gov. The Company cautions that the list of risks, uncertainties and other factors described in the AIF is not exhaustive and other factors could also adversely affect its results. Readers are urged to consider the risks, uncertainties and assumptions carefully in evaluating the forward-looking statements and are cautioned not to place undue reliance on such information. The Company is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities law.
. Non-Gaap Measures in this news release influde, but are not limited to, "Adjusted ebitda".
discussion below.
or account an account of this release.
Source Aurora Acb Manufacture Cannabis Inc.