Aurora acquires remaining 90% equity interest of Indica Industries for A$50M

Aurora Cannabis announced that a wholly-owned subsidiary of the company has acquired the remaining approximately 90% equity interest of Indica Industries, or MedReleaf Australia, that Aurora did not previously own, at an enterprise value of A$50M, subject to customary adjustments. Aurora paid A$9.45M in cash with the balance of the purchase price satisfied by the issuance of common shares of Aurora. As consideration, Aurora issued the selling shareholders an aggregate of approximately 69.5M Aurora Shares and paid the selling shareholders A$9.45M in cash, subject to customary adjustments post-closing. Approximately 10% of the consideration will be held in escrow to ensure certain obligations of the selling shareholders.