Obscure knowledge, Spin-off shares for investors. Establishment of [Aurora] Subsidiary
On March 25, 2015, the Company reported the establishment of its new subsidiary, Australis Capital Inc. (“ACI”), a company focused on opportunities in the United States with respect to production, processing, extracting of derivatives and sale of both medicinal and recreational cannabis. Electrum shall assist the Company in this process. Subject to regulatory and shareholder approvals, the Company intends to spin out ACI under a Plan of Arrangement under the Business Corporations Act (British Columbia) (the “Arrangement”), pursuant to which 100% of the outstanding common shares of ACI will be distributed to the holders of common shares of Aurora on a pro-rata basis. The directors of the Company believe that the creation of two separate public companies, one focused in Canada and one focused in the U.S., will enhance their respective business operations and provide holders of Aurora securities with diversified investment AURORA CANNABIS INC. (Formerly Prescient Mining Corp.) Management’s Discussion & Analysis For the three and nine months ended March 31, 2015 5 choices. The Company will be reporting the details of the Arrangement in due course. There can be no assurances or guarantees that the Arrangement will be completed as currently contemplated or at all.
I came across this a long time ago, and seen this spin-off as a bonus to shareholders. It's better detailed in the press release but there is a parcel of land in a "Marijuana themed business park" involved. Should legalization happen in Washington, and the spinoff stays afloat, we get free shares as it stands.
"When fully built out, the business park represents an opportunity of over a million square feet of production, processing and retail space. The area includes a dedicated space for a flagship processing facility for Australis that will further the "Aurora Standard". Plans are currently in place for a sports bar, several restaurants, a rock climbing facility, a local microbrewery and craft distillery, and marijuana industry related supply stores. Multiple undisclosed celebrity brands of cannabis will be produced in the park along with a celebrity branded Vapor lounge. Each production facility space will offer a turnkey solution and I-502 licensees that lease these facility spaces will benefit from being able to grow in accordance with the renowned Aurora Standard - a production model synthesized from Canada's global-leading health & safety standards along with experience from Aurora's curated cannabis advisory team."
Source links:
Article No. 1
https://www.marketwired.com/press-release/aurora-cannabis-signs-deal-construct-new-cannabis-production-processing-facility-washington-cnsx-acb-2011619.htm
Article No.2
https://thecse.com/sites/default/files/investorx/ACB/1506011427593365.pdf