Radient Technologies Inc.’s (RTI: CA) convertible debenture issued to Aurora Cannabis Inc. on Feb. 13, 2017, has been converted into 14,285,714 units of Radient pursuant to the acceleration provisions contained therein. Each conversion unit consists of one common share and one common share purchase warrant exercisable prior to Feb. 13, 2019, for one additional common share of Radient at an exercise price of 33 cents per warrant.
Radient will also make the final interest payment of $41,096 to Aurora through the issuance of additional 77,540 units to Aurora. Each interest unit consists of one common share and one common share purchase warrant exercisable prior to Feb. 13, 2019, for one additional common share of Radient at an exercise price of 53 cents per warrant. The issuance of the interest units to Aurora is subject to final approval of the TSX Venture Exchange.
Early warning disclosure
Radient has been advised by Aurora that prior to the conversion of the convertible debenture Aurora held 2,777,800 common shares and 2,777,800 purchase warrants. Radient has been further advised by Aurora that after giving effect to the conversion, Aurora holds 17,245,221 common shares and 17,245,221 share purchase warrants of Radient representing approximately 9.6 per cent of the issued and outstanding common shares, and 17.5 per cent of the issued and outstanding common shares on a partially diluted basis.
Aurora acquired the securities for investment purposes. Aurora will evaluate its investment in Radient from time to time and may, based on such evaluation, market conditions and other circumstances, increase or decrease shareholdings as circumstances require through market transactions, private agreements or otherwise. A copy of the early warning report will be filed by Aurora in connection with the acquisition and will be available on Radient’s SEDAR profile. In order to obtain a copy of the early warning report, please contact Nilda Rivera, Aurora’s controller, at telephone number 604-362-5207. Aurora’s registered office is located at 1500, 1199 West Hastings St., Vancouver, B.C., V6E 3T5.
About Radient Technologies Inc.
Radient extracts natural compounds from a range of biological materials using microwave-assisted processing, a patented technology platform which provides superior customer outcomes in terms of ingredient purity, yield and cost. From its 20,000-square-foot manufacturing plant in Edmonton, Alta., Radient serves market leaders in industries that include pharmaceutical, food, beverage, natural health, personal care and cannabis markets.
About Aurora Cannabis Inc.
Aurora’s wholly owned subsidiary, Aurora Cannabis Enterprises Inc., is a licensed producer of medical cannabis pursuant to Health Canada’s access to cannabis for medical purposes regulations (ACMPR). The company operates a 55,200-square-foot state-of-the-art production facility in Mountain View county, Alberta, and is currently constructing a second 800,000-square-foot production facility, known as Aurora Sky, at the Edmonton International Airport, and has acquired, and is undertaking completion of, a third 40,000-square-foot production facility in Pointe-Claire, Que., on Montreal’s West Island. In addition, the company is the cornerstone investor with a 19.9-per-cent stake in Cann Group, the first Australian company licensed to conduct research on and cultivate medical cannabis, as well as owns Pedanios, a leading wholesale importer, exporter, and distributor of medical cannabis in the European Union, based in Germany.
In the interest of full disclosure, we call the reader’s attention to the fact that Equities.com, Inc. is compensated by the companies profiled in the Spotlight Companies section. The purpose of these profiles is to provide awareness of these companies to investors in the micro, small-cap and growth equity community and should not in any way be considered as a recommendation to buy, sell or hold these securities. Equities.com is not a registered broker dealer, investment advisor, financial analyst, investment banker or other investment professional. We are a publisher of original and third party news and information. All profiles are based on information that is available to the public. The information contained herein should not be considered to be complete and is not guaranteed by Equities.com to be free from misstatement or errors. The views expressed are our own and not intended to be the basis for any investment decision. Readers are reminded to do their own due diligence when researching any companies mentioned on this website. Always bear in mind that investing in early-stage companies is risky and you are encouraged to only invest an amount that you can afford to lose completely without any change in your lifestyle. Equities has been compensated with cash, common shares and/or warrants for market awareness services provided.